The Ecosystem of Fairgrind
Multi-token ecosystem for Digital Entrepreneurs
Fairgrind supports three types of crypto tokens for internal clearing:
Fairgrind token
Fairgrind tokens are automatically minted and distributed to Grinders who contribute to the success of Fairgind. Grinders receive Fairgrind tokens when they work on an AI training project (fulfill tasks, review tasks), refer customers or new Grinders to the portal to expand its activities.
The number of Fairgrind tokens they possess represents their stake from the Fair Training revenue of Fairgrind.
AI project tokens
Project creators have the option to compensate Grinders for AI training using fixed USD fees or opt for tokenization of their AI model, wherein tokens are distributed to participating Grinders.
Once the AI product enters the market and begins generating revenue, these project tokens represent the share of revenue that their holders will receive from the AI model’s earnings.
Bridging token
The bridging token enables Grinders to collect their training rewards in crypto, if they don’t want to manage their payments in fiat.
It also enables community projects to raise funds to create a new AI data set or model they have imagined.
The bridging token will also exist outside Fairgrind’s blockchain, as an ERC20 token.
Your share in the AI models
AI project creators have the option to compensate Grinders through a fixed fee or extend the opportunity for a royalty-based arrangement in the development of the AI product.
In the latter scenario, Grinders involved in the training and fine-tuning of the AI model will receive project-specific crypto tokens based on their contributions to the training process.
These tokens will be issued by the AI developer, with each token representing a contract-specific share of future revenue generated by the resulting AI product. Consequently, Grinders can anticipate receiving their royalties over time as the customer’s AI product generates income.
Your share in Fairgrind’s success
Fairgrind aims to redefine AI development through collaboration, innovation, and shared success. Within our Fair Training Initiative, we share a part of our revenue with the Grinders.
When you actively contribute to Fairgrind’s success, you’ll earn a share of the Marketplace’s revenue as your entitlement. Fairgrind is set to be a community-centric marketplace where your sales and training contributions are rewarded with Fairgrind’s proprietary tokens.
Upon receiving these tokens, you can expect to receive ongoing royalties in the future, as Fairgrind continues to grow.
Tokenization FAQ
What is the token economics of the Fairgrind token?
The token economics is still under planning. Since Grinders will receive Fairgrind tokens as they work for their own and Fairgrind’s benefit, it won’t be a pre-mined token. Tasks completed on the marketplace will automatically mint tokens via a smart contract. The Fairgrind token held will represent a Grinder’s stake in Fairgrind’s marketplace revenue. Beside this representation, the Fairgrind token will be used to pay blockchain infrastructure related costs (like gas fee, token swap fee).
How can I buy the Fairgrind token?
Fairgrind tokens can be earned by contributing in the success of Fairgrind, like completing tasks in AI training projects on the marketplace. Fairgrind does not sell these tokens, those will be minted by a smart contract, and distributed automatically.
How do AI tokens work?
When an AI project creator – whether it’s an AI developer company, a corporation which customizes an AI model for themselves, or a community initiated AI project – launch a project on the marketplace, they can set how Grinders will be paid. Basically this can be flat fee payment, or a share of the future AI model’s revenue, as a royalty. This share is represented by an automatically generated project token. The more tasks a Grinder completes on a project, the more project tokens they earn, the bigger share of future revenue they can expect.
However, it’s always the decision of the Grinder to accept royalty based payment, because it naturally holds a risk.
The token economics is still under planning. Since Grinders will receive Fairgrind tokens as they work for their own and Fairgrind’s benefit, it won’t be a pre-mined token. Tasks completed on the marketplace will automatically mint tokens via a smart contract. The Fairgrind token held will represent a Grinder’s stake in Fairgrind’s marketplace revenue. Beside this representation, the Fairgrind token will be used to pay blockchain infrastructure related costs (like gas fee, token swap fee).
Fairgrind tokens can be earned by contributing in the success of Fairgrind, like completing tasks in AI training projects on the marketplace. Fairgrind does not sell these tokens, those will be minted by a smart contract, and distributed automatically.
When an AI project creator – whether it’s an AI developer company, a corporation which customizes an AI model for themselves, or a community initiated AI project – launch a project on the marketplace, they can set how Grinders will be paid. Basically this can be flat fee payment, or a share of the future AI model’s revenue, as a royalty. This share is represented by an automatically generated project token. The more tasks a Grinder completes on a project, the more project tokens they earn, the bigger share of future revenue they can expect.
However, it’s always the decision of the Grinder to accept royalty based payment, because it naturally holds a risk.