What is the ALLO token? The decentralized AI project Allora Network
Allora Labs, formerly known as Upshot, focuses on the NFT evaluation sector. The project announced its name change in February, shifting its operations towards a decentralized AI network. Upshot has been a longstanding pioneer in building AI infrastructure and cryptocurrency, significantly contributing to the development of Allora.
Allora Network is a self-improving decentralized AI blockchain that supports smarter, safer artificial intelligence applications through a network of machine learning (ML) models.
The ALLO token plays a central role in the Allora Network, providing a flexible and sustainable value exchange solution for the cryptocurrency community.
ALLO is issued by Allora Network to facilitate value exchange among participating members. Notably, it features a Pay-What-You-Want (PWYW) model, allowing holders to freely decide the fee for using ALLO to purchase inference results from the network.
Allora Network establishes a self-improving AI network, in which AI combines to become smarter than the individual models created. The incentive mechanism is carefully designed to help Allora continuously learn, improve, and adjust to fit the market.
Allora has raised three million USD in a strategic funding round, bringing the total successful fundraising to 35 million USD from investment funds such as Polychain, Framework, Blockchain Capital, Delphi Ventures, CoinFund...
