August 7, 2024 5 minutes read
Openfabric Ecosystem Roundup- July, 2024
Welcome to the latest update from Openfabric, where innovation and community engagement drive our progress. This blog highlights key developments that occurred at Openfabric in July, including our linear token claim process, extensive testnet usage, and the launch of new tools like Openfabric Xplorer. We also cover significant milestones such as Marketplace V2.0 and enhanced documentation, alongside rewarding opportunities for stakeholders and exciting giveaways. Learn how Openfabric is evolving and how you can stay involved in our growing ecosystem.
Token Claim is linear
We noticed that a lot of the community members are not aware that the token claim is linear. This means that token distribution occurs every minute for Public sale investors, Private investors, and other investors.
You don’t need to wait for the 24th of the month, Learn more about OFN tokenomics here: https://docs.openfabric.ai/token/tokenomics/
Testnet users
In July, over 11K fabricators used the testnet to generate AI content.
These fabricators generated AI content with Artfabric, Memefabric, Soundfabric, QRfabric, and 3D Model generators, the free applications. Soon, we will introduce some premium applications and an easy-to-use payment system to purchase the applications.
Openfabric Blochain Explorer
Similar to bscscan and etherscan, Our layer 1 protocol has an Xplorer where you can view all transactions on the blockchain.
On Openfabric Xplorer, you can :
- Track block
- Track Transaction and
- Track verified contract
You can access the Xplorer live on testnet: http://explorer.openfabric.dev/
Openfabric Blogs in July
| What is the significance of Blockchain technology in banking | This blog answers questions like: What is blockchain technology?
What is the significance of Blockchain technology in banking? https://openfabric.ai/blog/what-is-the-significance-of-blockchain-technology-in-banking |
| Blockchain Xplorer | Like Ethereum and Binance, Openfabric has a blockchain on which you can build your token!
Learn about Openfabric AI Xplorer: https://openfabric.ai/blog/introducing-the-openfabric-blockchain-explorer |
| How is AI Creating Personalized Gaming Experiences | How is AI Creating Personalized Gaming Experiences? What is AI’s Impact on Gaming? How is Openfabric AI Involved?
Find answers in our recently published blog: https://openfabric.ai/blog/ai-in-gaming-how-ai-is-creating-personalized-gaming-experiences |
| June Ecosystem Roundup | What happened at Openfabric in June?
We updated the website, launched Marketplace V2.0, and many more. Read about it here: https://openfabric.ai/blog/june-ecosystem-roundup |
| Marketplace V 2.0 | Openfabric AI Marketplace V2.0 is live!What is it about?
Find your answers here: https://openfabric.ai/blog/introducing-openfabric-ai-marketplace-v2-0 |
Documentation Got an update
Openfabric got a major upgrade and this is not restricted to just the website. Our developers also upgraded the documentation making it easy for you to navigate.
Take a minute and explore the upgrade: https://docs.openfabric.ai
Stakeholder offers and rewards
Openfabric is creating an ecosystem where stakeholders contribute solutions and receive rewards in return.
Let’s explore these contributions and rewards:
- Service consumers utilize the network to address specific business challenges, bearing the cost of AI and execution services.
- Infrastructure providers lease the execution environment for AI operations and earn payments based on the resources utilized per execution.
- AI innovators enhance the network by developing and deploying AI solutions for complex problems, earning compensation each time their AI models are executed.
- Data providers own valuable datasets used in AI training; they receive payments each time their datasets are accessed.
For more details, refer to the Openfabric whitepaper: https://openfabric.ai/resource/openfabric-whitepaper.pdf
OFN staking in July
In July, 48k fabricators staked their $OFN in the staking portal. With over 1.5 million $OFN staked, the staking pool is almost filled. Below is a table of each pool, the capacity, the amount filled, the lock term, and the reward.
Hurry and stake your $OFN before it fills up: https://staking.openfabric.ai/
| Capacity | Amount filled | Lock term | Reward |
| 520,000 $OFN | 96% | 365 days | 8.33% |
| 570,000 $OFN | 91% | 180 days | 5.13% |
| 215,000 $OFN | 89% | 90 days | 3.77% |
Giveaways from Openfabric in July
| Dmail x Openfabric giveaway | Date: 16th July – 15th Aug
Total prize pool: $50,000 How to Participate? |
| Meme contest | Get rewarded for creating a meme with our newly launched media kit:
https://openfabric.ai/resource/openfabricai-brandkit.zip How? Prize: |
Conclusion
In conclusion, Openfabric is bustling with updates and activities. The linear token claim ensures continuous distribution, allowing investors easy access to their tokens. Testnet saw over 70,000 users generating diverse AI content, with plans for paid applications. The new Openfabric Xplorer enhances blockchain transparency. Key updates include the launch of Marketplace V2.0 and improved documentation. Stakeholders are rewarded for their contributions, with active staking and exciting giveaways driving community engagement.
Stay informed and explore the resources to make the most of the Openfabric ecosystem.
