Point-to-point + 100% buyback: Base's new black horse Pod's wheel engine is dismantled

Original title: The Buyback Engineering Powering the Dolphin Information Network

Source: Dolphin

Photo by Yulya, used with permission

Editors press: In the recent period, there has been an explosive growth in the BASE ecological AI mainline narrative, with the primary focus of the privacy-privileged AI platform Venice ($VVVV) and its ecological projects. As co-developer of the Venice Core Default Model, the Dolphin network and its token dollar POD performed amazingly in May, with the market value skyrocketing from $12.2 million to $192 million, an increase of more than 14 times. This paper elaborates on the unique "point-to-pool" economic model of the Dolphin network, the token value capture mechanism, and innovative designs to secure the network through pledge and penalty mechanisms. The following are detailed mechanisms for dismantling and analysing:

Point-to-Point economic model design

The Dolphin network was designed as a Peer-to-Pool system to re-utilise the idle GPU. Each AI model is operated in a GPU provided by the network。

This is different from most AI Depin. In other networks, buyers usually rent one node directly from providers and create one-on-one "talking" sessions。

• ON THE SUPPLY SIDE, THE NODE THAT RUNS THE SAME MODEL WILL FORM A “POOL” TO WORK TOGETHER ON THE TASK REQUESTS YOU HAVE SENT. THE SYSTEM ASSIGNS TASKS RANDOMLY ACCORDING TO THE AVAILABILITY OF NODES, AND THERE IS NO DIRECT LINK BETWEEN THE PERSON ISSUING THE REQUEST AND THE PERSON PROVIDING THE NODES. THE ONLY CRITERION FOR AN INCENTIVE AT THE NODE IS HOW MANY AI COMPUTING TASKS (I.E., REASONING TOKENS) THEY HANDLE, WHICH ARE PAID IN POD TOKENS ISSUED BY THE PROTOCOL VAULT。

• On the demand side, users using API purchase the protocol directly. The Dolphin network accepts payments in various encrypted currencies such as $POD, $ETH, $BT, $USDC, $XMR and $ZEC。

100% OF ALL REVENUES RECEIVED UNDER THE AGREEMENT WILL BE USED TO REPURCHASE POD COINS ON THE MARKETThis directly offsets the increase in tokens。

THE BUYER AND THE SELLER WERE SEPARATED, WHICH MEANT THAT THE POD AWARD TO THE NODE COULD BE MORE OR LESS THAN THE POD WE EARNED FROM OUR INCOME。

To be more intuitive, we can see oneSpecific cases of running Qwen3.6-35B models on the Dolphin network:

• current costs of running datagen.dphn.ai: $0.50 per million token for processing。

• The cheapest bid of its kind on OpenRouter: $1.00 per million token。

• Dolphin user fees: $0.70。

• Dolphin Payment to Node: US$0.50。

• net buy-back funds: $0.20 per 1 million token generated。

In other wordsDolphin network pricing is not only 30 per cent lower than the cheapest central provider, but also a net profit of $0.20 to buy PDF on the market for every 1 million token generated。

Why is this the best application scenario for Depin

This model is considered to be the most promising course of application in the area of DePIN, mainly for the following reasons:

& nbsp;VERY HIGH AI REASONING REQUIREMENT:THE MARKET'S YEARNING FOR AI'S REASONING IS IN ITS INFANCY。

& nbsp;Big idle pool: A idle game of GPUs capable of running local AI models is extremely large. The network model feels like the old card mining (PoW), but because it produces really commercially valuable AI calculations, the potential for making money is much greater。

& nbsp;Ignoring geographical limitations:Unlike many DePIN networks, the geographical location of AI reasoning is not important and therefore the problem of coverage is avoided. Due to the high degree of geographical flexibility of AI reasoning, the hundreds of millisecond delays have little impact on user experience, which allows the Dolphin network to connect consumers and computing resources globally, greatly increasing the expansion and utilization of each node。

& nbsp;Inevitability of liquidity pool calculation: This is the only way to unlock the largest GPU supply group. It allows nodes to be on or off line at any time, and does not need to be as secure as a P2P lease. The previous GPU DePIN project required consumers and nodes 1 to 1 to bind, which would not work for idle GPUs such as games PC or data centre graphic cards, because the owner might want to take the computer back for himself. After all, no one wants to rent a GPU virtual machine that is suddenly cut off by the owner。

Currency mechanisms and value accumulation

POD is the only valuable asset in the Dolphin ecosystem。All revenue generated by the network, 100 per cent, is automatically used to repurchase the POD on the market. Moreover, Dolphin had no external equity structure based on shareholders and would never be introduced in the future。

For POD holders, multiple exclusive interests can be obtained by pledging tokens to xPD vaults:

• Obtaining direct automatic dividends from repurchases of network tokens。

• TO OBTAIN DAILY AI REASONING LEVELS, THEREBY MAKING FREE USE OF ALL MODELS ON THE NETWORK。

• Advanced subscription status in web chat rooms, robots and other ecological applications in Dolphin。

In the design of token economics, Dolphin draws on the essence of the DeFi project and deeply integrates the best distributed AI reasoning with the training network:

& nbsp;DRAWING ON ETH MECHANISMS:Nodal operators and certifiers are required to pay a deposit, which will be directly deducted (false) in the event of an offence。

& nbsp;DRAWING ON THE CRV MECHANISM:INCENTIVE ACCELERATION FOR NODAL OPERATORS. THE LOCK-IN OF THE POD CAN DOUBLE THE PROCEEDS AT MOST, AND THE RATE OF ACCELERATION OF 1.5 TO 2 TIMES IS EXTREMELY COMPETITIVE IN THE MARKET, DEPENDING ON THE RATE OF RETURN ON THE DEPOSIT ON OTHER PLATFORMS。

& nbsp;Use xSUSHI/yCRV mechanism: Introduction of automatic compound deposits. Users do not need to receive incentives manually, which means that xPD (i.e. Dolphin in pledge status) can be secured directly as a deposit by the nodal operator。

& nbsp;Use stAAVE mechanismA reasonable cooling period and withdrawal time window have been set up to guarantee the stability of network funds。

& nbsp;Drawing on vlCVX/veCRV mechanisms:A “bribery market” has been set up for the unused XPD calculations on a daily basis. Users can sell at an inexhaustible level, thus earning a higher pledge return。

Bond binding, fines for non-compliance and incentive doubling mechanism

IN THE DECENTRALISED COMPUTING NETWORK, CHEATING IS UNDOUBTEDLY THE GREATEST THREAT. IF IT DOESN'T MATTER, THE NODE OPERATOR MAY SECRETLY REPLACE IT WITH A SMALLER, CASTRATED OR SIMPLY A FAKE AI MODEL AND RECEIVE AN INCENTIVE. THIS WAY, THE QUALITY OF THE OUTPUT WILL COLLAPSE, THE MAN WHO BUYS THE CALCULUS WILL RUN AWAY AND THE WHOLE ECO-WHEEL WILL NEVER TURN UP。

In response to this challengeThe Dolphin network introduced the "deductible deposit" mechanism, which deeply binds the vital interests of the nodal operator to the value of the POD tokenI don't know. If malicious acts are found to have been committed, the node is directly deducted from the deposit equivalent to four weeks of income. This makes cheating extremely uneconomical。

By defaultTHE NODAL OPERATOR EARNS A POD IN A BINDI DON'T KNOW. WHEN A NODE IS SAVED ENOUGH OF A 4-WEEK INCOME BINDING POD, THEY CAN CHOOSE, ON A WEEKLY SETTLEMENT, WHETHER TO CONTINUE TO RECEIVE THE TIED POD OR TO RECEIVE A FLOW OF POD THAT CAN BE TRADED AT ANY TIME。

If you choose to receive a mobile POD, the system deducts a 20% handling fee. The money would go directly into the xPD bond vault, which would be the nodal operator who would give the deposit to other pledge holders and the honest depositing of the deposit。

The node could also further store xPOD in bound contracts, which would not only enhance their returns but also qualify them for other nodes in the certification network。

The POD incentive multiplier determines how much extra money a node can earn beyond the base incentive. This mechanism is inspired by Curve Finance's Mobility Provider (LP) Acceleration Mechanism, butDolphin has made special modifications to the decentrization AI network by including the use of incentives, the uniform calculation of the deposit for the entire account and the penalty for non-compliance。

In short:

:: THE NODE EARNS A BASIC INCENTIVE BY COMPLETING AI COMPUTING, VALIDATION AND RELATED PROTOCOL TASKS

• The system will give you a multiple of the node that you earn, depending on the number of tokens tied in your account and the proportion of your earnings

• When calculating the rate of return, the system will look at the average of the basic incentives of the past few weeks and apply a smooth calculation of "slow and fast": When you take on a larger number of tasks, your average yield is rising fast; but when you're free, it falls very slowly

• IF YOUR ACCOUNT HOLDS A DEPOSIT OF MORE THAN THREE MONTHS' PROCEEDS AND THE ACTIVE DEPOSIT HAS AT LEAST 50,000 PODS, YOU QUALIFY AS A CERTIFIER

• If you bind the deposit to the equivalent of six months (26 weeks), the system guarantees that your reward will be at least 1.5 times greater

• If you bind a deposit for more than six months, your incentive multiplier can be up to two times higher. How much can be achieved depends on the relative ratio of you to the other over-bounds and the absolute number of you exceeding the six-month target

ALL CALCULATIONS ARE MEASURED ONLY IN TERMS OF THE NUMBER OF PODS, AND THE INCENTIVE SYSTEM DOES NOT INVOLVE ANY FRENCH PRICE PREDICTOR. THE DEPOSIT IS BASED ON THE ACCOUNT, AND THE REWARD MULTIPLIER IS VALID FOR ALL NODES IN YOUR ACCOUNT. IF YOU ADD MORE NODES, YOUR TOTAL ACCOUNT RETURNS WILL INCREASE, SO YOU NEED TO INCREASE THE ACTIVE DEPOSIT PROPORTIONATELY IN ORDER TO MAINTAIN THE ORIGINAL YIELD MULTIPLIER。

Finally, the Dolphin Network is about to publish the paper " Encrypted real-time weight certificates for decentrized reasoning " (Encrypted Live-Weight Proofs for Decentralized Information) tomorrow. The paper will provide a detailed description of a lightweight certification system that will be able to verify whether the various hardware nodes run the correct model, going beyond the standard TEE certification that can only be used on an enterprise's British Vidash cards。

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