LD Capital: PoW+AI dual narrative, computing power rental platform Clore.AI saw a 10-fold increase this month

Author: duoduo, LD Capital

With the strong breakthroughs of KAS and TAO, entering the top 50 by market capitalization, the new POW series tokens have attracted market attention. POW tokens with good narratives, solid fundamentals, and low market caps have mostly seen significant price increases. These new POW tokens are often associated with concepts such as artificial intelligence, computing power services, and the Internet of Things, emphasizing "Proof of Useful Work" (PoUW). This report introduces Clore.AI, a computing power leasing platform with a dual narrative of POW+AI.

1. Basic Information

Clore.AI is a platform providing GPU computing power leasing services built on POW, currently connecting over 5,500 GPUs. The team is located in Europe, and the official website claims compliance with European laws, with plans to disclose team information in December 2023.

The total token supply is 1.3 billion, with the current circulating supply at 222,287,324 tokens, and a market cap of approximately $55 million. Mining for the token started in June 2022, and since its listing on exchanges, the lowest price was $0.0059, with a series of new highs reached in November 2023, currently peaking at $0.27, achieving a tenfold increase within 30 days.

Over 80% of the tokens are traded on MEXC, and 10% on Gate. The trading volume has been consistently increasing over the past month, from around $1 million at the beginning of the month to over $10 million currently.

2. Background of the Computing Power Industry

With the development and maturation of internet technology, humanity needs to seek new technological breakthroughs to gain new economic growth points. Artificial intelligence has become the focus of the new round of technological revolution. With the phased success of ChatGPT and the ongoing development of autonomous driving, computing power has become a new infrastructure.

NVIDIA CEO Jensen Huang pointed out in an interview that 2023 is just the beginning of computing power construction, and the trend will last at least until 2025. According to the "2023 State of AI Report" released by venture capital firm Air Street Capital, large tech companies are building A100 cluster centers, with more investments expected in 2024. The shipment of its top H100 AI processors is expected to be between 1.5 million and 2 million units in 2024, at least doubling the estimated shipment of 500,000 units this year. For small and medium-sized tech companies, third-party computing power service platforms are also one of the options.

Against this backdrop, projects offering POW+AI computing services have gained attention, as they aggregate more computing power resources through blockchain models to provide services to individuals and institutions in need of computing power.

3. Products and Services

Business Model

Clore.AI is a GPU computing power leasing platform. In its business model, individuals who own NVIDIA GPU computers can connect their GPUs to the network and receive CLORE token incentives. Those in need of computing power services can rent computing power.

The business scope includes: AI training, movie rendering, VPN, cryptocurrency mining, etc. When there is a specific demand for computing power services, tasks are completed through network allocation; when there is no demand, the network finds the cryptocurrency with the highest mining yield at that time to participate in mining.

Product Pricing

Specific GPU models, configurations, and rental prices can be viewed on the official website. The party providing computing power can earn CLORE tokens as rewards; the better the server performance, the more rewards are earned. The party using the computing power can pay with CLORE, BTC, or USD.

The main chips in this market are the RTX30 and RTX40 series. These are the new generation high-performance graphics cards with ray tracing capabilities launched by NVIDIA in 2018, positioned in the mid-to-high-end range within the NVIDIA chip ecosystem. They are mainly used in gaming, creation, rendering, etc., with the RTX40 series being referred to as "the ultimate platform for gamers and creators." For large-scale AI training, the latest H100 and A100 chips are more commonly used. Therefore, based on Clore.AI's current computing power configuration, movie rendering and mining may be easier to execute, while AI training and large-scale computing are somewhat weaker compared to large computing power centers.

Users can check specific models, configurations, and prices on the official website.

Network Data

On the official website, it can be seen that the total number of GPUs in the network exceeds 5,500, with about 5,000 available for lease, and nearly 30,000 orders have been completed. The number of connected GPUs is on an upward trend. In July, the lowest was around 2,000, achieving more than double growth in six months.

With the rise in prices, miner earnings have increased, and the proportion of GPU computing power has rapidly grown over the past week, from around 1.6% to 3%.

4. Token Economics

CLORE is a POW token that uses the kawpow algorithm, the same as RavenCoin, resistant to ASIC mining. The token has no pre-mining or ICO, with 50% of each block allocated to miners, 40% to lessors, and 10% to the team.

The total token supply is 1.3 billion, with mining starting in June 2022, and expected to reach full circulation by 2042, with the current circulating supply at approximately 220 million. By the end of 2023, the circulating supply is expected to be around 250 million, accounting for 20% of the total supply; by the end of 2024, it will be 460 million, accounting for 35%; and by the end of 2025, it will be 620 million, accounting for 48%.

The token release is as follows:

Proof of Holding System (POH)

The project has proposed the concept of a Proof of Holding system (POH) to incentivize users holding CLORE tokens. When holders participate in this system, CLORE tokens are always stored in their wallets, with no lock-up period and free access. The more CLORE tokens held, the more rewards earned when renting out devices; when renting devices, holders can receive up to a 50% discount on fees. Currently, approximately 56 million tokens are participating in POH, accounting for about 25% of the current circulating supply.

Token Holding Distribution

The top 100 addresses hold a total of 130 million tokens, accounting for 59.32% of the current circulating supply. Due to the lack of labeling by the browser, it is impossible to identify the specific distribution of token holders.

5. Future Development

According to the team's roadmap, the main tasks for the next year include:

• December 2023: Focus on marketing, promoting token listings, and seeking new partners.
• Q1 2024: Launch Clore Storage, leasing storage space, and enhancing data management collaboration and efficiency.
• Q2 2024: Launch Clore VPN, providing VPN services; launch CLORE OS, adding server monitoring features to closely monitor GPU performance metrics.
• Q3 2024: Establish a unified market based on Clore OS for better dynamic adjustment and allocation of computing power resources, whether for heavy computing tasks or optimal mining strategies.

6. Conclusion

From a fundamental perspective, Clore.AI belongs to the dual narrative of POW+AI, with its GPU computing power platform having completed initial construction, forming a mid-to-high-end GPU cluster, with a complete business model and clear operations. The team has a clear development roadmap and delivery capability, with previous plans delivered on time.

From a financial perspective, recent interest in POW and AI has led to capital flowing into this sector, seeking low market cap targets. Clore has achieved a tenfold increase in 30 days, with significant short-term price growth.

Future attention should be paid to the project's continued development, including whether GPU numbers continue to grow, whether the proportion of computing power remains stable or increases, and whether the project secures partnerships or orders from large companies.