Original | Odaily Planet Daily (@OdailyChina)
Author | DingDang (@XiaMiPP)
Last week, the statement from the founder of Openclaw advising young people "not to waste time on cryptocurrency" stung the crypto industry. This week, however, the situation took a subtle turn. In the official OpenClaw documentation, an encrypted project with a native Token, Venice.ai, was quietly listed as a recommended model provider. Over the past month, the price of Venice's native token VVV has also risen from a low of around $1.5 to a high of around $8.4, with a maximum increase of over 500%.
On one hand, there's discouragement; on the other, there's integration. Why did OpenClaw specifically push a project with an encrypted token economic structure into the spotlight?
Venice's Origins: What Happens When a Crypto OG Does AI?
To understand Venice, one must first understand OpenClaw's positioning. It is an open-source, self-hosted AI agent platform that can integrate with chat software to become a user's 24/7 personal assistant, helping with tasks like sending/receiving emails and managing calendars. However, OpenClaw itself does not provide AI large language model (LLM) capabilities; it is merely an "execution and routing layer." The actual intelligence (thinking, planning, generating responses) must come from external model providers.
Venice is a generative AI platform focused on privacy and lack of censorship, positioning itself as a decentralized version of ChatGPT. The project launched in May 2024 but has not conducted any fundraising, has no VC rounds, and was entirely started with personal funding from its founder, Erik Voorhees.
Erik Voorhees himself is a crypto old-timer (OG), having entered the crypto industry in 2011. After the collapse of Mt. Gox in 2014, he founded ShapeShift, one of the first trading platforms to emphasize non-custodial and privacy-first principles. In 2021, he chose to transition ShapeShift to DAO governance, completing its decentralization. His career trajectory seems to revolve around "reducing reliance on trust in centralized structures."
Another core team member is Teana Baker-Taylor, with an impressive resume having held executive roles in operations and compliance at HSBC, Circle, Binance, and Crypto.com. Other team members are mostly anonymous or low-key. Based on current public data, the Venice team has about 20 members.
OpenClaw currently lists 22 model providers, including large tech companies like Amazon, Anthropic, and Cloudflare. In terms of size and brand, Venice is clearly not the most prominent one; it might even be the least noticeable. Yet, it was highlighted and recommended in the official documentation as a model provider with a native token economy. However, this highlighting might have been a merge error in the docs; it has since been removed, but Venice was included in OpenClaw's list of model providers earlier.
Even so, why would OpenClaw choose a small, obscure company? The answer is simple: Privacy.
After all, alongside AI's great success, controversies surrounding data leaks and model training related to AI continue to accumulate. Users are beginning to realize that the real risk is not whether the model is "smart," but whether data or information "will be leaked."
So, how exactly does Venice achieve privacy? Its core philosophy is "You don’t have to protect what you do not have." Simply put, Venice does not store any user content—prompts, replies, generated images, uploaded documents—on any Venice servers at all. This data is only encrypted and saved locally on the user's own browser (or device). Once you clear your browser data or manually delete chat history, this content is permanently gone.
Venice also explicitly states that it does not use user data for model training, does not log, and does not analyze behavior. This stands in stark contrast to mainstream platforms (like OpenAI, Anthropic), which often store conversations long-term to improve models or for compliance review.
Furthermore, Venice distinguishes between two privacy modes with different strengths: Private and Anonymized. The former is maximum privacy, using open-source models that run on decentralized GPUs. During processing, no identity-linked information is attached. The underlying compute nodes might briefly see the plaintext prompt, but Venice itself cannot see or access the user's history. In the latter mode, the underlying providers can see the prompt content, but Venice strips all metadata (IP, account fingerprints, historical associations), making it impossible for them to trace the information back to the user.
So, although Venice may not be the most prominent name in the provider list, its privacy architecture made it the specially highlighted "privacy-first choice" in OpenClaw's documentation. Currently, OpenClaw's default model is Llama 3.3, but Erik himself suggested in a reply that users switch to the smarter GLM 4.6.
What does this mean for Venice itself?
OpenClaw is currently experiencing viral扩散 (viral spread), and its call volume is entering a phase of exponential growth. With OpenClaw's official endorsement, it might pull Venice's推理 capacity (inference capacity)需求 to a new level. This means Venice is undergoing a qualitative change. It is no longer just "an AI project with a crypto background" but is attempting to become the default privacy backend for the mainstream open-source Agent ecosystem.
According to the latest data Erik released on March 1st, since the beginning of 2026, the number of Venice API users has begun to grow rapidly, now exceeding 25,000 users.
Token Model: One-Time Investment, Lifetime Compute Power
As a crypto project, can its token economy handle this level of traffic growth?
Within the Venice ecosystem, there are two core Tokens: VVV and DIEM. They are tightly bound through a "one-way minting + reversible redemption" mechanism, forming a two-tier economic structure.
VVV is the capital asset of the entire ecosystem, which can be held directly or staked. Staking VVV yields continuous staking rewards, currently around 19% APY. Another key function of VVV is to mint DIEM, and it is the only way to generate DIEM.
After minting, DIEM can be traded on secondary markets, such as on DEXs like Aerodrome and Uniswap. Or it can be staked to activate spending credit. DIEM represents ownable, perpetual AI computing assets. 1 DIEM = $1 per day of Venice API credit, used to call all of Venice's models (text generation, image/video generation, code, etc.), including the highest privacy, uncensored models in Private mode. This credit is permanently valid and automatically renewed daily during your staking period, effectively acting as a permanent AI subscription voucher.
The $1 credit is somewhat abstract. Within the Venice ecosystem, it's not a fixed "number of tokens" but rather the ability to consume $1 worth of inference resources. The more expensive the model, the less content you can create; the cheaper the model, the more content you can create. This abstract pricing makes DIEM a kind of "compute power share certificate." I asked Venice's AI to quantify what the $1 credit can get you:
Because traditional AI APIs are pay-per-use, costs can explode exponentially for high-frequency, long-term, automated tasks (like an AI Agent making hundreds or thousands of calls per day). However, Venice, through DIEM, completely颠覆 (overt颠覆 might be intended, meaning颠覆/subvert) this into a one-time investment换取 (in exchange for) long-term fixed quotas. Currently, 1 DIEM is worth about $670. Once staked, it automatically provides $1 worth of API credit per day. To方便对比 (facilitate comparison) whether buying DIEM is more cost-effective or traditional pay-per-use is better, I used Grok to generate a rough table:
Based on the data above, for low-frequency users, there is no need to purchase DIEM at all. For medium to high-frequency users who need to run Agents daily and generate large amounts of content, the marginal cost decreases continuously with long-term use, giving DIEM a clear advantage.
Some users have already come forward to share their experience. One claimed that staking 56 DIEM allows them to use the Claude opus 4.6 model全天 (all day), with a principal cost of less than $10,000.
Moreover, community users have already developed a credit租赁市场 (leasing market), cheaptokens.ai, where unused credit can be sold. An ecosystem market around Venice's compute power is萌芽 (sprouting).
Overall, the core of Venice's economic model lies in separating the "growth logic" from the "usage logic". VVV, as a pure growth asset, carries the platform's overall valuation narrative, directly benefiting from user growth, network effects, ecological expansion, and other positive flywheels. DIEM, as a perpetual subscription functional asset, truly serves product use and value consumption, handling the daily interaction and task execution消费逻辑 (consumption logic).
Based on current data performance, DIEM shows clear advantages in long-term, high-frequency, continuous task scenarios,高度契合 (highly compatible) with the current Agent-driven intensive usage模式 (mode). This strong real demand can, in turn, effectively stimulate users' willingness to stake VVV, forming a positive closed loop from the usage end to the growth end.
Supply and Deflation: The Real Background of the Price Rise
According to data provided on the Venice website, the current total token supply is 78.84 million tokens. Of these, 7.89 million are locked, and the staked amount is 30.60 million, with a staking rate as high as 38.8%. The circulating supply is only 44.34 million tokens. In the initial economic model, the total VVV token supply was 100 million, with 50% allocated for community airdrops, targeting early Venice users, AI project parties, etc. The airdrop claim window lasted about 45 days. Ultimately, over 40,000 people claimed 17.40 million VVV, accounting for about 35% of the community allocation. The remaining unclaimed portion was about 32.68 million tokens, worth about $100 million at the time. The team decided to permanently burn this remainder to reduce circulating supply and enhance scarcity.
Starting in October 2025, Venice announced a reduction of the original emission plan from 10 million VVV/year to 8 million VVV/year. Simultaneously, it launched a monthly revenue buyback + burn mechanism. The current monthly burn capacity is 30,000 to 50,000 tokens, worth about $60,000 to $90,000. Currently, 42.71% of the token supply has been burned. Then, in early February 2026, the team announced another emission reduction plan, cutting from 8 million VVV/year to 6 million VVV/year. This series of adjustments directly changed the supply expectations. Looking at the token price performance, this was also the starting point for VVV's rise.
Therefore, the rise of VVV is not driven solely by narrative but by the叠加 (superimposition/combination) of changes in supply structure and demand growth.
Conclusion
As AI becomes the central narrative of the era, is Crypto really bowing out? Venice is trying to provide its own answer. If future intelligent agent systems need a privacy backend, if Agents require long-term stable compute structures, then perhaps the crypto logic has not disappeared.
