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Anvi Saini
Anvi Saini
Jun 14, 2024
News

AI Arena Launches Neuron Token, Registration Now Open

AI Arena's Neuron ($NRN) token launch on Arbitrum marks a significant advancement in the integration of AI and blockchain, offering comprehensive utility, a structured TGE, and robust economic design aimed at fostering a vibrant Web3 ecosystem.
AI Arena Launches Neuron Token, Registration Now Open

AI Arena, a decentralized platform at the intersection of artificial intelligence and blockchain technology, has officially announced the launch of its Neuron ($NRN) token. The Token Generation Event (TGE) registration is now live, offering participants a chance to engage in this significant development within the Web3 space.

Key Details of the Neuron Token Launch

TGE Timeline

The registration period for the $NRN TGE is set from June 12 to June 19. During this time, participants can verify their eligibility and check their $NRN balance on the AI Arena portal. It is crucial for participants to register within this timeframe to claim their tokens during the Claiming Period, the date of which will be announced in due course. AI Arena has emphasized the importance of avoiding scam links by using only official channels for information, such as AI Arena's Twitter account and their Discord server's announcements channel.

Registration Process

AI Arena has divided eligible wallets into two cohorts, each with distinct registration procedures based on a proprietary scoring system. This system assesses the likelihood of a wallet being a genuine user account, ensuring a secure and fair process.

Cohort 1: Wallets scoring above the threshold can register and claim their tokens directly from the AI Arena portal. Instructions for this process will be available on the portal once it goes live.

Cohort 2: Wallets scoring below the threshold must register and claim their tokens through ByBit, a cryptocurrency exchange platform. This requires users to have a KYC-verified ByBit account. Participants will need to connect to the AI Arena portal, enter their ByBit UID, and complete KYC verification if necessary. Only main account UIDs from KYC-verified ByBit accounts will be eligible for $NRN claims, ensuring compliance with security protocols.

Geographic Restrictions

AI Arena has imposed geographic restrictions to comply with relevant sanctions and securities regulations. Residents of specific regions, including the USA, Canada, and several others listed in the official announcement, are prohibited from claiming $NRN tokens. Participants must verify their eligibility based on their geographic location and adhere to ByBit's terms and conditions, especially for those required to register through ByBit.

Economic Design of the $NRN Token

The $NRN token is integral to the AI Arena ecosystem, serving multiple roles such as a medium of exchange, staking, and governance.

Utility

Within AI Arena, $NRN facilitates various activities, including accessing premium AI-driven features and services. Users can stake $NRN to earn rewards, promoting long-term engagement with the platform. Additionally, $NRN holders have voting rights, allowing them to participate in the platform's governance and influence key decisions.

Distribution

The token distribution strategy aims to ensure fairness and widespread adoption. A portion of the tokens is allocated to early supporters and contributors, recognizing their role in the platform's development. The public distribution phases are designed to allow broad participation while adhering to regulatory standards.

Governance

AI Arena's governance model empowers $NRN holders to propose and vote on platform changes. By staking $NRN, users can earn rewards and gain voting rights, ensuring that those with a vested interest in the platform have a voice in its development. This decentralized governance approach promotes transparency and community involvement.

Tokenomics and Eligibility

Official Ticker - $NRN

Initially, AI Arena planned to use the ticker symbol $N. However, due to technical integration considerations with exchange partners, the decision was made to revert to the original ticker, $NRN. This change, while minor, aligns with the platform's broader vision and commitment to leading the AI gaming revolution. The launch of $NRN represents a new chapter in AI Arena's journey, reinforcing its dedication to its community and technological advancements.

Tokenomics

The $NRN tokenomics are designed to promote long-term engagement and stability within the AI Arena ecosystem. Key aspects include:

  • Community Allocation: 30% of the total $NRN supply is allocated to the community, with the emission rate based on in-game economy factors. This approach ensures that token distribution is aligned with the platform's economic health and user activity.
  • Vesting for Core Contributors and Investors: Tokens for core contributors and investors are locked and will begin vesting after 12 months. This vesting schedule underscores a commitment to long-term growth and stability.
  • TGE Allocation: 8% of the total $NRN supply is allocated for the TGE claim, rewarding early participants and active community members.

Vesting and Unlock Schedule

The vesting and unlock schedule for $NRN tokens ensures a balanced and fair release of tokens into the market. The detailed vesting chart highlights the timelines for different groups:

Investors: Tokens are locked for one year, followed by a linear vesting over 24 months.

Contributors: Similar to investors, contributors' tokens are locked for one year, with linear vesting over 24 months thereafter.

Ecosystem: The ecosystem allocation includes a 1.9% unlock at TGE, followed by a linear vesting over 36 months. Additionally, OTC tranche tokens have a six-month lock, followed by a linear vesting over 12 months.

Community: An 8% unlock at TGE, with future unlocks dependent on the game economy's performance.

The provided chart offers a detailed visual representation of these schedules, showcasing the gradual release of the total 1 billion $NRN supply.

Eligibility for TGE Participation

AI Arena has implemented measures to ensure that genuine users who adhered to campaign rules are rewarded. Out of hundreds of thousands of wallets that participated across various campaigns, 28,683 wallets qualified for the TGE claim. These campaigns included:

  • Season 1 of the $N Prize Box System
  • Gateway to Arena Play-2-Airdrop Campaign
  • TGE Points Questing Campaign
  • Other marketing, promotional activities, and special invitations

These measures ensure that active and engaged community members are prioritized in the TGE process.

As the registration period for the $NRN TGE is now live, interested participants are encouraged to review the registration process and geographic restrictions to ensure compliance. This launch marks a transformative event in the Web3 landscape, with AI Arena poised to lead the charge in AI-driven blockchain applications.

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Disclaimer: The information provided on this page do not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Individuals should do their own research before taking any actions related to the product they read about and carry full responsibility for their decisions.
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