In November, four sites listed Initial Coin Offerings (ICOs) for Solidus AI Tech and its token AITECH.
Solidus AI Tech is a tech company that is bridging the gap of insufficient High-Performance Computing resources in Europe, by building data centers throughout Europe. One facility in Budapest has already been built and Solidus AI Tech is commencing to build an HPC infrastructure.
It will provide AI solutions for the Automotive industry, Face& Voice recognition, Medical industry, Health Care, Recruitment, Sales Automation & Lead Generation, Virtual assistance, traffic congestion& smart cities, Border control& secure societies, Agriculture and Greenhouse Automation.
Furthermore, governments will be provided with governments to regulate Asset Management, Smart Contracts for Health Care, Voting, Taxation, Supply chain Traceability, Land registration, identity Management& Process Automation. Its objective is to build the technology that enables communities to feel more connected and safe and henceforth become the leader of the democratization of AI.
Furthermore, Solidus AI Tech is a strong advocate of the “Crypto Climate Accord” which aims to decarbonize the crypto industry by 2024. For this reason, the data center that has been built is also 40% more efficient due to IP and evaporating methods. Consequently, Solidus Tech AI is more eco-friendly than its competitors.
Current partners of Solidus AI Tech include, but are not limited to, Microsoft, Government organizations within the defense sector, Soft Galaxy international, Optoelectronica, and the Crypto Climate Accord.
The company launched its token AITECH which is the World’s first AI utility token that enables Governmental Authorities, Megacorps, SME’s and Professionals to purchase AI services through their Infrastructure-as-a-Service (IaaS) platform. The token will be launched on the Ethereum platform as ERC-20 type. There are a total of 10 billion tokens available.
The following picture shows the token allocation
8% of tokens were allocated for the private sale which is already 80% sold out and pre-sale will start on the 1st January 2022. The ICO will end on the 30th April, 2022. By this time 30% of tokens will be sold.
The raised 42,8 will go towards further scaling their operations across the world.
The following picture shows a full breakdown of the fund allocation of the money raised by the token ICO:
The community of token holders will be rewarded by
The aim is to generate 7.5% APY until the last IaaS platform is live. At that point, token returns depend on multiple factors regarding the market.
2. Burning of AITECH tokens
As the general aim of Solidus AI Tech is to build a deflationary token economy, burning tokens will limit the total circulating supply. Hence after the quarterly fundraising rounds, AITECH tokens will be burnt until the last IaaS platform goes live. After the last IaaS platform launching, a percentage of tokens, that have been used to buy the AI services, will be burnt quarterly. This will result in a constant decrease in the circulating supply. In total 50% of the tokens will be burnt.
The staked tokens will be locked in the pools for the duration of each quarter. During the last week of the quarter, the community has the option to unstake their token. Those who chose to leave the tokens in the pool will be entered into an airdrop where tokens will be distributed to random wallet addresses.
More to look up about Solidus AI Tech