DIEMGlossary
Key terms and concepts in the Venice.ai ecosystem. Each term links to the relevant VeniceStats page where you can explore the data.
PROTOCOL
- VVV
- The native token of Venice.ai, a privacy-focused AI inference platform. VVV lives on Base (Coinbase's L2) and serves two purposes: governance and revenue capture via the buy-and-burn mechanism. Genesis supply was 100M tokens. Full VVV explainer →
- sVVV
- Staked VVV. A non-transferable receipt token received 1:1 when you deposit VVV into the staking contract. sVVV accrues daily DIEM rewards and can optionally be locked to mint additional DIEM. Staking analytics →
- Staking
- Depositing VVV into the staking contract to receive sVVV. Stakers earn daily DIEM mints proportional to their share of total staked VVV. No lock required — staking is flexible by default.
- Locking
- Locking sVVV as collateral to mint DIEM. Locked sVVV earns 80% of normal emission yield — Venice.ai receives the remaining 20% as protocol revenue. The lock is enforced on-chain and cannot be broken early.
- Emissions
- New VVV created daily and distributed to sVVV holders as staking rewards. The emission rate is protocol-controlled and has been reduced over time: 14M → 10M → 8M → 6M → 5M VVV/year today, with a staged path to 3M by July 2026 (4M on Jun 1, 3M on Jul 1). Tokenomics →
- Cooldown Period
- A mandatory 7-day waiting period after initiating an unstake. During cooldown, VVV is neither staked nor liquid — it's in transit. Cooldown VVV still counts toward your total position value. Unstaking wave chart →
- Buy-and-Burn
- Venice.ai allocates a portion of platform revenue to purchasing VVV on the open market (via Aerodrome DEX) and sending it to the burn address, permanently removing it from supply. Organic burn rate sat at ~37–57K VVV/month through early 2026 — see live pace on the Burns page →
- Airdrop
- The initial VVV token distribution to early Venice.ai users. 24.7M VVV was allocated; unclaimed tokens were burned. VeniceStats tracks claim status, loyalist vs seller behavior, and retention. Airdrop analytics →
DIEM
- DIEM
- A utility token representing tokenized perpetual AI access. 1 staked DIEM = $1/day of Venice.ai API inference credits, forever. Minted exclusively by locking sVVV — the collateral is not spent and remains recoverable. Full DIEM explainer →
- Mint Rate
- The global rate determining how much sVVV must be locked to mint 1 DIEM. Follows an exponential curve:
90 × e^(2 × (supply/38000)³). As supply approaches the ~38K target cap, the cost rises parabolically. Live mint rate → - Personal Burn Rate
- A wallet-specific ratio of sVVV locked per DIEM outstanding. Determines how much DIEM you must burn to recover your locked sVVV. The round-trip is always zero-sum: lock X sVVV → mint Y DIEM → burn Y DIEM → recover X sVVV.
- DIEM Staking
- Staking DIEM activates AI inference credits at $1/day per staked DIEM. Minimum stake: 0.1 DIEM ($0.10/day). No lock period; can unstake anytime with a short cooldown. DIEM calculator →
- Collateral (sVVV Lock)
- sVVV locked as backing for minted DIEM. The collateral is not spent — it continues earning 80% of emission yield while locked. To recover it, burn the equivalent DIEM at your personal burn rate.
VENETIAN SYSTEM
- Venetian Identity
- Every tracked wallet on VeniceStats has a unique identity composed of a Role, Era, Size tier, Badges, and a Conviction Score. This identity drives the AI-generated Renaissance portrait. Community hub →
- Roles
- Engagement-based tiers, from lowest to highest: Mercenary (sold airdrop), Gondolier (basic staker), Glassblower, Merchant, Patrician, Consul (top conviction), Illuminati (top 25 sVVV holders, invitation only).
- Eras
- Time-based tiers reflecting when a wallet first interacted with Venice: Founding (genesis participants), Pioneer, Settler, Citizen, Newcomer. Newcomers can graduate to Citizen after 6 months and Settler after 12.
- Size Tiers
- 12 aquatic-themed tiers based on total position value (sVVV + DIEM + liquid VVV), from Plankton (smallest) to Leviathan (largest). Each tier has specific sVVV thresholds.
- Badges
- 15 automatic achievement badges across 5 rarity tiers (Mythic, Legendary, Epic, Rare, Uncommon). Awarded for milestones like staking duration, DIEM minting, airdrop loyalty, and position size.
- Conviction Score
- A 0–10,000 score measuring long-term alignment with Venice. Based on engagement (lock duration, staking history, DIEM participation) multiplied by a size factor. Higher scores unlock better roles and badges.
- Renaissance Portraits
- AI-generated paintings unique to each wallet, created by Venice.ai's image model (recraft-v4-pro). The prompt is derived from the wallet's Venetian identity — role, era, size, and badges all influence the style and atmosphere.
BLOCKCHAIN & INFRASTRUCTURE
- Base
- Coinbase's Layer 2 blockchain, built on the Optimism (OP Stack) framework. All Venice.ai contracts, tokens, and on-chain activity live on Base. Low fees (~$0.01 per transaction) make it practical for frequent staking and DIEM operations.
- Aerodrome
- The largest decentralized exchange (DEX) on Base. Hosts the VVV/WETH and VVV/DIEM concentrated-liquidity pools that provide price discovery and trading for both tokens.
- Sablier
- An on-chain token vesting protocol. Venice.ai uses Sablier streams for team and investor VVV vesting — 201 streams totaling 9.3M VVV. Vesting tracker →
- Multicall
- A technique for batching multiple on-chain read operations into a single RPC call. VeniceStats uses multicall extensively to read staking positions, balances, and DIEM data efficiently.
- Concentrated Liquidity (CL)
- A DEX liquidity model where providers concentrate funds within specific price ranges instead of across the full spectrum. Both VVV/WETH and VVV/DIEM pools on Aerodrome use this model for deeper liquidity at active trading prices.
TREASURY & SUPPLY
- Treasury
- Protocol reserves held in multisig wallets, controlled by the Venice.ai team. Contains VVV earmarked for development, partnerships, and the incentive fund. Treasury tracker →
- Vesting
- The gradual release of tokens over time, enforced on-chain via Sablier streams. Prevents large holders (team, investors) from selling all at once. Vesting schedule →
- Cliff
- A vesting term: the initial period during which no tokens can be withdrawn. After the cliff ends, tokens begin streaming linearly. Venice team vesting has a 12-month cliff.
- Incentive Fund
- A $27M fund established by Venice.ai to support developers building AI applications, agents, and infrastructure on the Venice platform. Seeded with 11.5M VVV from the treasury.
- Circulating Supply
- The total VVV available in the market: genesis supply minus burned tokens, minus treasury/vesting locks. Currently ~78.7M VVV. Supply breakdown →