We've crossed three weeks of metering inference and porting it to a
@base token via the
@InferProofOne app
🎉
❔ Here's what's happened:
3 miner accounts used 626,000,000 paid LLM inference tokens on
@OpenRouter
In turn, 626 IP1 tokens have been created on Base
Each day, the app reconciles miner's usage and reviews it for anomalies. When review clears, the amount of tokens used per miner is communicated to the minting contract at 1M : 1 ratio.
The IP1 tokens are minted and then sent to miners' wallets. This repeats every 24h until Sept 1 2027.
❌ Third party issue:
Because
@InferProofOne's approach to distribution - mined instead of bought - is atypical, automated flags from large wallet providers may mislabel the IP1 token as risky or unverified.
This is all due to liquidity, because the IP1 contract is verified on BaseScan. Its base token standard, role permissions, and pause controls come unmodified from OpenZeppelin v5.7.0, with only IP1-specific mint logic layered on top.
We've been in discussions with a major wallet provider with the goal of remedying this and will have more information as it comes. We always welcome any support from the ecosystem & providers when it comes to accurate representation of the IP1 token 🙏
👨💼 Pacing the frontier
Current pace over the last 3 weeks is ~30 IP1 minted/day. A single new miner who uses 50M inference tokens in a day would have dramatic effects on that rate. 10 new miners doing that same amount starts adding commas to the supply quickly.
IP1 supply is determined by the # of users + their paid inference on OpenRouter - nothing else.
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