TL;DR:

• Chainbase, known as the "Databricks of the blockchain world" (valued at $62 billion), is redefining blockchain data infrastructure through AI empowerment.

• The project has completed a $15 million Series A funding round led by Tencent and Matrix Partners China, showcasing strong commercial potential.

• In terms of AI empowerment, in addition to its self-developed Theia model deeply integrated with Google Gemini, it has formed strategic partnerships with several leading AI projects such as Vana and Flock.io.

• Currently in a critical expansion phase, it is promoting ecosystem development through multiple initiatives including the Genesis program and AVS mainnet.

• Data usage revenue for 2023-2024 reached $1.5 million, far exceeding The Graph's revenue of under $1 million, demonstrating potential on par with benchmark projects like The Graph (FDV $2-3 billion).

Introduction: The Dilemma and New Opportunities of Blockchain Data

In today's rapidly evolving blockchain technology landscape, a troubling reality is becoming increasingly apparent: there exists a significant gap between the explosive growth of on-chain data and the effective release of data value. Take Ethereum as an example; its archive node data volume has surpassed 13.5 TB. Among this vast sea of data lies infinite value, yet it remains underutilized due to difficulties in processing and analysis. How can one avoid getting lost in this data deluge? How can these cold numbers be transformed into valuable insights? These questions are troubling the entire blockchain industry.

Against this backdrop, the rapid advancement of artificial intelligence technology presents exciting prospects for the integration of AI and blockchain. Like a bright beam of light, it illuminates the path forward through the data fog. At this critical moment, the emergence of Chainbase brings new hope to the industry. As an ambitious full-chain data network, Chainbase is attempting to redefine the infrastructure of blockchain data through revolutionary technological architecture and AI empowerment.

I. Chainbase: Redefining Blockchain Data Infrastructure

When we talk about Chainbase, it cannot be viewed merely as another blockchain data project. Its ambitions extend far beyond that. Through a meticulously designed four-layer architecture, Chainbase is building a true data value transformation engine. From the foundational data accessibility layer to the intermediate execution and consensus layers, and finally to the top co-processing layer, each layer is intricately designed to form a complete data ecosystem.

Notably, its innovative dual-chain technology architecture deserves special mention. By separating the execution layer from the consensus layer, Chainbase has built robust economic security on the AVS foundation supported by EigenLayer. This design not only achieves high throughput and low latency but, more importantly, significantly enhances network security through a dual-staking model. It’s like equipping the data processing system with double insurance, ensuring both performance and security.

On top of this architecture, one of Chainbase's trump cards is its AI model, Theia. Developed based on Google's DORA model, Theia is not merely a data analysis tool but a truly intelligent assistant that understands blockchain data. It can deeply comprehend the inherent logic of on-chain data and respond through causal reasoning, bringing a qualitative leap to data analysis. Recently, with the deep integration with Google Gemini, Theia's capabilities have been further enhanced, allowing users to interact with blockchain data through natural language, greatly lowering the barrier to data access.

Project Links

• Official Website: https://chainbase.com/

• X: https://x.com/ChainbaseHQ

• Discord: https://discord.gg/Chk44r4r

• Dune Data Display: https://dune.com/chainbase_labs/chainbase-network

• Genesis Event: https://genesis.chainbase.com/

II. Core Competitiveness of Chainbase

In the fiercely competitive blockchain data service sector, what enables Chainbase to stand out? The answer lies in its unique core competencies. First is its powerful full-chain data integration capability. Currently, Chainbase has integrated data from over 20 mainstream blockchains, achieving instantaneous synchronization in under 3 seconds. This extensive data coverage and rapid synchronization capability provide a solid data foundation for cross-chain applications.

Even more impressive is its AI-empowered data processing capability. Through the innovative concept of "manuscripts," Chainbase provides a standardized yet flexible framework for data processing. Each manuscript contains two key components: schema and operators, making complex data processing tasks simple and efficient. It’s like providing developers with a powerful toolbox to easily meet various data processing needs.

III. Business Ecosystem and Development Status

3.1 Significant Achievements in Ecosystem Growth

From the latest network data, Chainbase's ecosystem development shows remarkable growth. The number of developers has surpassed 30,550 and continues to grow rapidly. More notably, the daily API call volume has stabilized between 400-600 million, demonstrating the platform's activity and practical application value.

Data Source: https://dune.com/chainbase_labs/chainbase-network

In terms of financial strength, Chainbase has demonstrated strong fundraising capabilities. The $15 million Series A funding completed in July 2024 is particularly significant—Tencent's investment and Matrix Partners China's lead not only provide financial support but also showcase the strategic recognition of traditional tech giants for blockchain data infrastructure. This funding round is unique as it represents Tencent's only investment in the crypto space in the past year, highlighting Chainbase's unique value in technological innovation and commercial prospects.

Information Source: https://x.com/ChainbaseHQ/status/1814207617331503601

3.2 Milestone Breakthrough of AVS Mainnet

The launch of Chainbase's AVS mainnet in November 2024 marks a new development phase for the project. From the current operational data, the results are significant:

• Total staked amount reached 623,196 ETH, approximately $2.45 billion.

• Successfully attracted 20 top operators to join the network.

• Deep integration with EigenLayer provides dual security guarantees for the network.

Data Source: https://dune.com/chainbase_labs/chainbase-network

The composition of these operators is quite representative, ranging from established node operators like Nethermind to emerging players like InfStones Enterprise, and from specialized institutions to comprehensive service providers, forming a diversified operational network. This diversity not only enhances the decentralization of the network but also provides professional support for different types of data processing needs.

3.3 Practical Progress of Theia AI Model

In terms of AI empowerment, Chainbase's Theia model demonstrates stable service capabilities. From usage data, Theia's daily interaction count remains at a relatively stable level, indicating the reliability and practicality of the AI service. Notably, with the integration with Google Gemini, Theia's capabilities have been significantly enhanced, allowing it to better understand and handle complex blockchain data query needs.

Data Source: https://dune.com/chainbase_labs/chainbase-network

3.4 Genesis Program's Ecosystem Activation

The ongoing Genesis program is a crucial part of Chainbase's ecosystem expansion. Data shows that the number of wallets participating in the program has exceeded 31 million, showing a strong growth trend. This number not only reflects community activity but also indicates market recognition and expectations for Chainbase's services.

3.5 Deepening Strategic Partnerships

In terms of ecosystem expansion, Chainbase has adopted an active cooperation strategy:

• Collaboration with Carv focuses on data value realization, integrating both parties' data resources to provide users with more comprehensive data services.

• The strategic alliance with Gaia emphasizes the practical application of AI, promoting real-time on-chain data in decentralized AI applications.

• Through deep integration with Google Gemini, the platform's AI capabilities have been further strengthened.

These collaborations are not merely resource integrations but represent deep synergy across technology, application, and service levels, building a more open and powerful ecosystem for Chainbase.

3.6 AI/Agent Ecosystem Layout

In the wave of AI and blockchain integration, Chainbase demonstrates comprehensive ecosystem layout capabilities. It has established deep strategic partnerships with several leading AI/Agent projects:

• Vana: Developing personalized AI assistants based on Chainbase's data infrastructure, creating a decentralized AI agent ecosystem.

• Flock.io: Enhancing social network intelligence using Chainbase's data analysis capabilities, achieving deep insights into user behavior.

• Theoriq: Deep collaboration in on-chain data analysis and prediction, providing AI-driven decision support for DeFi trading.

• 0G: Jointly exploring decentralized AI application scenarios, promoting the democratization of AI.

• Aethir: Collaborating on AI model training data processing, providing high-quality training data support.

• io: Partnering to build a new generation of AI-native application ecosystems, empowering more innovative scenarios.

These collaborations not only reflect Chainbase's core value as an AI data infrastructure but also showcase its leading position in promoting deep integration of AI and blockchain. By providing high-quality on-chain data support for AI projects, Chainbase is becoming a key link between Web3 and AI.

Notably, these collaborations are based on Chainbase's unique technological advantages:

• Full-chain data integration capability provides rich training materials.

• The AI model Theia achieves intelligent understanding of on-chain data.

• Deep integration with Google Gemini brings stronger analytical capabilities.

• The Manuscript framework allows AI applications to process blockchain data more conveniently.

These advantages collectively form Chainbase's core competitiveness in the AI era and lay the foundation for further expanding its leading position in the AI data infrastructure field.

3.7 Market Value Potential Assessment

From a valuation benchmarking perspective, Chainbase is poised to become the "Databricks of the blockchain world." As a reference, Databricks' latest valuation has reached $62 billion, reflecting the market's high recognition of data infrastructure.

From an industry perspective, the AI sector has performed impressively in 2024. The overall market cap has grown from $15 billion at the beginning of the year to $70 billion, making it one of the fastest-growing sectors in the crypto industry. AI projects like Vana have garnered significant market premiums, reflecting investors' high attention and expectations for the AI sector.

Specifically in the niche of on-chain AI data, The Graph ($GRT) and Arkham ($ARKM) are two of the most representative projects, both with fully diluted valuations (FDV) in the range of $2-3 billion. From a fundamental perspective, Chainbase's data usage revenue for 2023-2024 reached $1.5 million, significantly higher than The Graph's revenue of under $1 million. This revenue advantage opens up possibilities for Chainbase's future valuation.

In the broader context of AI continuing to lead the bull market and significant sector dividends, Chainbase, as a data infrastructure linking Web2 and Web3, is expected to gain considerable market recognition and valuation support.

IV. Participating in the Chainbase Ecosystem: Opportunities and Challenges

In the Web3 era, seizing early opportunities in quality projects often leads to substantial returns. Currently, the Chainbase ecosystem is in a critical expansion phase, providing unique opportunities for various participants. Let’s delve into how to engage with this promising ecosystem.

4.1 Genesis Event: Opening the Door to the Ecosystem

The ongoing Genesis event is an excellent opportunity to enter the Chainbase ecosystem. The design of this event is quite ingenious, allowing users to deeply experience product features while cleverly linking task completion with potential future rights distribution.

Event Link: https://genesis.chainbase.com/referral?referral_code=BJYYH6GBK

Specifically, participants can accumulate points in the following ways:

First is daily interaction with Theia AI. This is not merely a dialogue test but a real experience of AI capabilities. Users can engage in conversations with Theia on topics like blockchain data analysis and market trends, earning corresponding points for each effective interaction. Through this process, users can gradually understand the practical application value of AI in blockchain data analysis.

Secondly, community building and operational participation. Chainbase's Discord community has over 180,000 members, serving not only as a platform for information exchange but also as an important venue for community governance. Actively participating in community discussions, assisting new users, and contributing valuable content can all earn corresponding rewards. Notably, Chainbase has also established a special community ambassador program for users in different language regions, providing greater development space for users with cross-cultural communication skills.

4.2 Value Capture Path for Developers

For developers, Chainbase offers not just a development platform but also an opportunity to convert technical expertise into ongoing income. This is primarily reflected in the design of the "manuscript" system. Each manuscript is a standardized data processing solution, similar to the subgraph concept in The Graph, but with more powerful functionality.

When developers create and publish manuscripts, they can earn 15% of the query fees as income whenever users utilize these manuscripts for data queries. The cleverness of this mechanism lies in its realization of the long-tail effect of knowledge monetization. A well-designed manuscript may be reused repeatedly, generating a continuous income stream for developers.

More importantly, Chainbase also provides comprehensive development tool support. The recently released Manuscript GUI version greatly simplifies the development process, allowing developers to create, test, and deploy manuscripts through a visual interface. Coupled with the integration of Google Gemini, it is even possible to generate basic data processing logic through natural language descriptions.

4.3 Dual Revenue Model for Operators

For institutions with technical strength and financial reserves, becoming an operator of Chainbase is a great choice. Operators play a key role in the ecosystem, responsible for providing computing resources and maintaining network stability. This contribution can be rewarded in two ways:

First is the revenue share from data processing fees. As actual providers of computing resources, operators can earn about 80% of the query fee income. Considering the ongoing growth in demand for blockchain data analysis, this revenue has considerable growth potential.

Secondly, there are staking rewards. Through integration with EigenLayer, operators can use staked assets for dual staking, earning additional income while ensuring network security. This innovative economic model not only improves asset utilization efficiency but also provides operators with a more stable income source.

4.4 Participation Thresholds and Considerations

While the opportunities are enticing, participants should remain vigilant about some key issues. For ordinary users, it is essential to pay attention to the timeliness of Genesis event points and the uncertainty of future conversion mechanisms. It is advisable to focus on understanding product features and contributing to community building during participation, rather than merely pursuing the quantity of points.

For developers, it is crucial to closely monitor manuscript performance optimization and maintenance costs. A poorly designed manuscript may consume excessive resources, leading to actual earnings falling short of expectations. It is recommended to fully consider scalability and maintenance costs from the early stages of development.

For potential operators, in addition to technical and financial thresholds, long-term operational costs and network stability requirements must also be considered. Becoming an operator means taking on more responsibilities, requiring sufficient strength and determination to maintain service quality.

V. Clear Awareness of Risks and Challenges

However, while recognizing opportunities, we must also maintain a clear understanding of potential risks. First is the technical risk; as an innovative project integrating AI and blockchain, Chainbase faces challenges in technical integration. Particularly in the training and application of AI models, ensuring the accuracy and stability of the models is a continuous issue that needs to be addressed.

From a market competition perspective, although Chainbase demonstrates unique advantages, established projects like The Graph have already built solid market positions. The Graph is also pushing towards AI empowerment with recently launched tools like AutoAgora and AgentC. Additionally, Space and Time has proposed new solutions for data credibility through its innovative Proof of SQL technology.

In terms of token economics, while Chainbase has designed a relatively complete incentive mechanism, how to maintain token value stability during the network expansion phase and balance the interests of all parties are issues that need to withstand market scrutiny.

VI. Reflection: Breakthroughs and Limitations

While conducting a comprehensive analysis of Chainbase, we also need to examine the project from a more dialectical perspective. "Decentralization" is an eternal theme in the blockchain field, and this issue is particularly worthy of reflection in Chainbase's architecture. Although the project attempts to achieve decentralization through dual-chain architecture and multi-party participation, a closer observation reveals that the admission mechanism for the current 20 operators actually forms a certain degree of centralization. Is this "limited decentralization" the best balance between ideals and reality? This is a question worth exploring.

Regarding AI empowerment, we also need to think critically: in blockchain data processing, is AI's involvement necessary at every stage? While Chainbase's Theia model is powerful, traditional database technologies may be more efficient in certain simple data query and processing scenarios. Does over-reliance on AI increase system complexity and uncertainty? These are questions that the project team and community need to consider together.

In terms of data privacy protection, as data scales up and AI models are applied more deeply, how to protect user privacy while providing comprehensive data services becomes increasingly important. Although Chainbase employs multi-layer encryption and permission management mechanisms, the potential risk of data leakage during AI model training still requires vigilance.

When comparing Chainbase with mature projects like The Graph, we can see that each has its focus. The Graph, with its mature subgraph ecosystem and stable market position, has a clear advantage in developer recognition. In contrast, Chainbase is carving out a new niche through AI empowerment and full-chain data integration. This differentiated competitive landscape reflects the diversified development trend of blockchain data services to some extent.

VII. Future Outlook: An Infinite Possibility New Chapter

Looking ahead, the development blueprint of Chainbase is promising. In terms of the technical roadmap, the project plans to further enhance AI capabilities, particularly in natural language processing and intelligent analysis. Through deep integration with Google Gemini, Chainbase is expected to achieve more natural and intelligent data interaction methods. Additionally, the project is actively exploring the application of zero-knowledge proof technology, which may bring new breakthroughs in data privacy protection.

In terms of ecosystem expansion, Chainbase is building a more open and diverse ecosystem. By attracting early users and developers through the Genesis program and expanding application scenarios through strategic partnerships with various Web3 projects, these initiatives are paving the way for sustainable ecosystem development. Notably, as more traditional enterprises begin to recognize the value of blockchain data, Chainbase is poised to become an important bridge linking the traditional world with Web3.

The impact on blockchain infrastructure may be the most anticipated aspect. As data volumes continue to grow and AI technology advances, data infrastructures like Chainbase will play an increasingly important role in driving the development of the entire industry. It is not just a data service platform but also a crucial pillar of the future digital economy.

Conclusion

In this new era where data and AI intertwine, Chainbase is redefining the boundaries of blockchain data infrastructure with its unique technological innovations and business models. It has grand visions but also faces real challenges; it showcases outstanding advantages while needing to resolve numerous issues. Yet, it is this spirit of seeking development amid challenges and breakthroughs through innovation that gives us a glimpse of a bright future for blockchain data services.

For ordinary users, now is an excellent time to understand and participate in the Chainbase ecosystem. Whether accumulating points through the Genesis event or deeply experiencing Theia's AI capabilities, we can better understand and grasp this emerging force that is on the rise. After all, at the intersection of blockchain and AI technology, Chainbase is writing its own legendary story.

And this story is just beginning.