Author: Yuliya, PANews

The rapid development of AI technology has driven the rise of the DeAI field. As a decentralized AI data layer developed by Pundi X, Pundi AI is committed to breaking the monopoly of centralized platforms on high-quality AI data through data tokenization and economic incentive models. With brand upgrades and token renaming, $FX will be renamed to $PUNDIAI at a ratio of 100:1 on February 25. This article will detail the token swap process, the logic behind it, the reasons for the upgrade, and the innovative changes it brings.

Restructuring the AI Data Value Chain

The token swap of Pundi AI is not merely a token renaming but an important part of its strategic upgrade of the AI data ecosystem. The core of the AI industry lies in computing power, algorithms, and data, while the scarcity of data and the monopoly of centralized platforms are the main bottlenecks currently faced. Pundi AI attracts more data contributors through decentralization, promoting the improvement of data quality for AI model training.

The current AI industry faces three major pain points: data monopoly, privacy breaches, and varying quality:

• Centralized Platform Monopoly: Companies like Google and OpenAI spend $60 million annually to purchase Reddit data, making it difficult for small and medium developers to access high-quality resources.
• Data Bias and Inefficiency: The quality of publicly available internet data varies, leading to poor performance of AI models in specialized fields (such as healthcare and finance).
• Lack of Contributor Incentives: Data providers cannot receive reasonable returns, creating a "big tech bloodsucking" model.

Pundi AI introduces the "Tag-and-Earn" model, turning data labeling into an easy and fun interactive activity through a browser plugin, attracting more contributors to provide diverse and high-quality data for AI models. Additionally, Pundi AI tokenizes and trades AI data in the form of NFTs, clarifying data ownership and ensuring transaction transparency, thus promoting data flow and value discovery.

Full-Stack Product Matrix

Through token swaps and brand upgrades, Pundi AI builds a more complete decentralized AI data product line, including:

• Pundi AI Data Platform: A central platform specifically for AI data management, supporting the upload of text, images, videos, audio, and other formats for labeling and verification throughout the process, ensuring transparency and traceability.
• Pundi AIFX Omnilayer: A cross-chain AI data processing platform that can distribute AI-related tasks (such as data labeling and verification) to participants worldwide. Regardless of which blockchain network users are on, they can seamlessly participate in tasks and earn rewards while reducing transaction costs. For example, if a data labeling task is published on Ethereum, global users can complete the task on other chains (like Base) and receive rewards, with the entire process automatically settled across chains by the platform.
• Purse+ Browser Plugin: Purse+ is a browser plugin that allows users to easily participate in Pundi AI's data collection while browsing the internet. Users can label text, images, or videos for training AI models through the plugin, earning $PUNDIAI token rewards for each valid label completed. Additionally, the plugin supports team collaboration, allowing users to label data and participate in discussions together.
• AI Data Marketplace: Labeled data is equivalent to intellectual property, and data contributors can list their data in this marketplace. AI developers, organizations, and researchers can purchase high-quality, vetted datasets by category to train AI models. The platform uses $PUNDIAI tokens as the settlement currency, automatically completing payments and distributions through smart contracts, with buyers receiving NFT ownership certificates for the data.
• AI MM Agent: A smart market-making system that predicts and responds to market changes by monitoring the transaction pool (mempool) in real-time. Key functions include: trade alerts (monitoring large transactions and flash loans), dynamic liquidity adjustment (automatically narrowing or widening price ranges based on market conditions), same-block execution (optimizing gas fees to complete operations within the same block when necessary), and intelligent risk control (analyzing price trends, trading volume, and volatility of trading pairs like ETH/USDC). The system quickly adjusts the price range of LP tokens upon detecting large transactions to avoid being arbitraged by MEV bots while ensuring higher fee income. Through the collaborative operation of these functions, the AI MM Agent not only provides a better trading experience but also brings stable income to vePUNDIAI holders, serving as an efficient, secure, and profitable smart market-making solution.

Dual Token Model Enhances Usability and Governance Participation

Pundi AI is building an innovative dual business line ecosystem. In the Web2 domain, the platform assists AI companies in acquiring high-quality data, generating revenue through a 10% data release fee and a 10% transaction commission; in the Web3 domain, developers can purchase AI data on the platform, train agents, and issue tokens for market-making, with this part of the business generating revenue through a 1% agent transaction fee, LP fees, a 10% project incentive fee, and whitelist application fees. All revenue from these two business lines will be returned to participants in the ecosystem.

To better support this innovative ecosystem, Pundi AI will conduct a token swap, reducing the existing 820 million $FX tokens to 8.2 million $PUNDIAI at a ratio of 100:1, significantly increasing scarcity. Meanwhile, FX has been fully unlocked, driven purely by the community, with no institutional unlocking pressure; 65% of the tokens are still staked in validator nodes, providing potential support for the token price.

Since $FX has already been listed on top exchanges like Upbit and Coinbase, which support exchanges, the token swap will be automatically completed by the exchanges, requiring no manual operation from users. The number of tokens will be automatically updated at a 100:1 ratio.

For on-chain self-custody holders, manual swaps will be required.

• AIFX Omnilayer (formerly f(x)Core): Automatic swap. Whether the FX token is staked or unstaked, the system will automatically upgrade it to PUNDIAI without additional operations. Staked tokens will continue to earn rewards according to the original mechanism after the upgrade.
• Base & Ethereum Network: Manual swap. Please visit the designated page and follow the instructions on the page to manually upgrade FX tokens to PUNDIAI. Alternatively, you can choose to bridge FX tokens back to Pundi AIFX Omnilayer for automatic token swapping.

After the token swap, $PUNDIAI and $vePUNDIAI will form a dual token model:

• $PUNDIAI: A medium of circulation and payment, used for data transactions, staking, and fees.
• $vePUNDIAI: A governance credential, locking tokens to gain voting rights; all business revenue in the ecosystem will flow into the protocol revenue pool, which will return value to $vePUNDIAI holders through various means, including weekly project token incentives, LP pool revenue sharing, and protocol revenue sharing.

This innovative dual business line structure combined with the dual token model draws on Curve's ve mechanism, Pump.fun's AI agent release mechanism, and Aerodrome's ve3,3 voting model, effectively incentivizing long-term holding through a locking mechanism. This design not only balances the two major business segments of AI data services and Web3 developer services but also ensures the sustainable development of the ecosystem through scientific token economics, creating long-term value for token holders.

Is a Flywheel Effect Starting?

Pundi AI's token swap strategy essentially represents its strategic upgrade and structural reshaping in the AI data ecosystem. This transformation is redefining the operational paradigm of the AI data market by building decentralized data infrastructure and innovative token economic models.

From the current market data, Pundi AI is at a critical period of value reassessment. In terms of market size, after completing the 100:1 token swap, the circulating supply will be 8.06 million tokens. As a token in the AI field listed simultaneously on Upbit and Coinbase, its current circulating market value is relatively low compared to similar projects. By referencing the valuation level of similar projects like RNDR (with a fully diluted valuation of about $3 billion), a significant scale difference can be observed.

Historically, token shrinkage events similar to Aave (LEND to AAVE) are often accompanied by significant valuation increases. In terms of industry trends, with Grayscale's research report positioning the "AI Data Infrastructure Layer" as a core track of the crypto economy, the integration of AI and Crypto technology has become an industry consensus.

Pundi AI is building a self-driven ecological closed loop: attracting high-quality data providers through a well-designed token incentive mechanism, promoting the continuous accumulation of quality data assets, and subsequently attracting AI developers to innovate and develop applications based on the platform. The prosperity of the developer ecosystem can create more value realization opportunities for data contributors, forming a virtuous cycle of ecological growth. With this full-stack solution, Pundi AI is expected to become an infrastructure-level entry point driving hundreds of millions of Web3 users into the AI economic system.

Additionally, Upbit will suspend Function X (FX) deposit and withdrawal services at 10:00 AM (UTC+8) on February 26, 2025; FX/BTC trading will be suspended starting at 1:00 PM (UTC+8) on February 28, 2025, until the renaming and token swap work is completed, with further notice to follow. When trading support is restored, the market name will change to PUNDIAI/BTC.

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