Sahara AI, a decentralized AI for user ownership, has unveiled its community token distribution on Buidlpad. This exclusive event has attracted over $74 million in committed interest, far exceeding its $8.5 million cap. Oversubscription was 777%, showing an increase in the desire to join decentralized AI ecosystems. They received 103,000 subscriptions and 30,000 contributors who were approved after verification (including KYC and Sybil resistance) checks.
The distribution was a step towards the token generation event (TGE) where the goal was to network Sahara AI with the broader ecosystem of developers, contributors, and users. The campaign attracted contributors in 118 countries, confirming that international interests were high. As a utility token, the $SAHARA token will be used to facilitate multiple activities within the Sahara AI ecosystem and will be practical in real-world applications of artificial intelligence (AI).
$SAHARA: A Functional AI Ecosystem
The $SAHARA token supports various services in the Sahara AI network. Token holders may access and license datasets, use computing and inference services, stake in securing the protocol, and vote on governance. The project focuses on facilitating direct utility and nearby involvement in its decentralized baseline.
Sahara AI is an AI application deployed on a custom-designed layer running on the Sahara Blockchain which enables AI-native activities. Its stack consists of tools to refine data, develop models, and build a decentralized marketplace where users actually get to trade the AI resources, e.g. data, models, and compute. The purpose of the distribution event was not only to gather funds but also to familiarize users with these functions and guarantee a large number of tokens were used before TGE.
Strategic Relationships and Support Institutions
Sahara Lab has raised $43 million in a seed round by significant investors such as Polychain Capital, Pantera Capital, Sequoia Capital, and YZi Labs (formerly Binance Labs). Its alliance with other corporations like Microsoft, Amazon, Google Cloud, and universities like MIT and UC Berkeley also enhances its presence in the AI and blockchain market.
The distribution platform based on Buildpad is aimed at community-first token access that is compliant. Stablecoin USD1 issued by World Liberty Financial contributed to 79 percent of the total contributions to the campaign, followed by BNB 21%.
