1. Why IMO? What are its benefits?
In Q1 2024, ORA pioneered the development of a new kind of digital asset framework. The Initial Model Offering (IMO) tokenizes open-source AI models onchain. This is an expansive tool for the ecosystem and community of open-source AI models.
In the past, open-source development communities have had little avenues for incentivizing the continued improvement of the underlying software. Compared to for-profit AI giants, open-source AI communities lag behind in the extent of their ability for continued competitive development, monetization and raising of capital.
At ORA, we believe that open-source is a more equitable, ethical and positive way to develop software. Take Linux, the backbone of the Internet. For AI, this kind of development couldn’t be more important when many AI researchers believe AI will lead to the extinction of humanity. Although Generative AI is fairly new, we have already seen a massive siloing of resources to the few for-profit AI giants: OpenAI, Google and Meta. Even despite the fact that open-source AI is so prevalent. Open-source means publicly available and publicly critique-able. For AI, this will lead to a safer and more prosperous future for everyone.
We created the IMO framework so communities that support open-source models can come together and undergo one if it will align with their goals.
-
For open-source AI Models, IMO enables sustainable funding.
-
For ecosystems, IMO helps align values and incentives for distribution and ongoing contribution.
-
For token holders, IMO lets anyone capture the value of AI models onchain, from sources including onchain revenue and inference assets (eg. ERC-7007).
IMO is not binding. It is a decentralized, permissionless framework for communities to use to drive continued, sustainable and competitive development. Anyone can use an open-source model, but there is unique value to be gained when such a model is trained and applied for specific contexts in the global internet of value landscape of blockchain systems; and when that value is attributable to the community.
Any community member can apply the model onchain to generate revenue for all token holders. Whether for security, moderation, governance, DeFi, gaming or any of the many use-cases of onchain AI we have listed in previous blogs. See here, here and here.
2. $OLM Revenue-Generation for Community
The first IMO is a tokenization of OpenLM model.
Built upon principles of transparency and collaboration, OpenLM, as a fully open-source AI project (MIT License), embodies the belief that innovation thrives in truly open ecosystems. OpenLM shares ORA's values that knowledge should be built in public, shared freely, and benefit communities globally.
As a completely open-source platform, OpenLM exhibits outstanding performance. With ongoing support from additional resources, OpenLM holds the promise of evolving into an LM model collectively owned by the global community and adopted as the framework for all LMs—imagine the potential and possibilities for the future.
We selected this model to undergo the very first IMO for these reasons. We want OpenLM to continue to succeed, evolve and compete with the for-profit AI giants. IMO is a tool available for the OpenLM community to use to drive this continued development and competitive potential.
We have integrated OpenLM’s model in our Onchain AI Oracle. This is the first revenue-generating use of $OLM! Any interaction with the OpenLM model onchain will generate fees for $OLM token holders. This means that:
-
$OLM will start generating revenue for its holders
-
$OLM community can apply the model to other onchain use cases for more revenue streams
$OLM is permissionless, decentralized, and now fully onchain. This tool is available to the OpenLM community to use as they see fit to supercharge sustainable innovation of the model.
We can’t wait to see what $OLM and its community does onchain!
Comment below what onchain application of $OLM you’d like to use and you get ORA points for using OpenLM’s model through OAO!
About ORA
ORA is Ethereum’s trustless AI that enables AI on blockchains.
ORA breaks down the limitations of smart contracts by offering decentralized and verifiable AI inference so developers can innovate freely.
ORA’s work has been trusted by Compound, Ethereum Foundation, Uniswap, Polygon, Optimism, Arbitrum, Manta, and beyond.