PANews reported on March 13 that according to The Block, the privacy-preserving AI platform Venice has completed the community airdrop, and about $100 million of unclaimed VVV tokens were permanently destroyed on Wednesday. Since the VVV token was launched on the Ethereum Layer 2 Base network on January 27, more than 40,000 people have received a total of 17.4 million VVV tokens, accounting for 35% of the total community allocation.

The 32.6 million VVV tokens destroyed this time account for 65% of the total community allocation, equivalent to one-third of the total Genesis supply, significantly reducing the circulating supply in the market. Despite this, 14 million VVV tokens will be added each year, with an initial inflation rate of 14%, which will be gradually reduced based on the "usage rate" of the Venice API.

Venice said it had not conducted VC financing, pre-sales or over-the-counter transactions, and had repurchased and destroyed 1% of the Genesis supply tokens previously sold in response to community doubts. In the future, Venice plans to launch an image engine, social dynamics, mobile applications and token economic updates.