On the opening day of its conference in Bangkok, Thailand, Near Protocol made a notable announcement that it plans to build the world’s largest open-source AI model.
This groundbreaking initiative, which will be developed through crowdsourced data and research, aims to create a 1.4 trillion-parameter model—3.5 times larger than Meta’s Llama model.
Near Protocol’s Plan for the AI Model
Near Protocol Co-Founder Illia Polosukhin shared that the project will run on Near’s decentralized network, powered by thousands of developers. The project’s goal is not only to push AI’s boundaries but also to establish a sustainable funding model through token sales.
This ambitious AI journey began on November 10, 2024, when participants started working on a smaller, 500 million-parameter model. Over time, top-performing contributors will progress to developing larger and more complex models.
Near’s roadmap includes seven models, each increasing in scale and complexity. By using a competitive, tiered approach, Near hopes to attract global talent, accelerating innovation and scalability.
Funding for the AI Model Project
Funding for the project’s substantial training and computing needs, estimated at $160 million, will come from token sales. Polosukhin noted that tokenholders will earn returns as the model is used, creating a self-sustaining ecosystem.
As he explained, “This model gets used, and the inferences that happen generate returns to tokenholders. We’ve created a monetization path and a way for people to reinvest in future models.” This approach secures not only the initial funding but also an ongoing source for continuous AI development.
Near’s AI initiative will also use encrypted Trusted Execution Environments, which ensure privacy and fair compensation for contributors. These secure environments protect data and model information, enabling collaborative development while preserving confidentiality. Monetizing these models is expected to encourage continuous updates, fostering a robust AI ecosystem on Near Protocol.
Near Protocol’s Mainnet Update
In parallel, Near Protocol announced a major mainnet upgrade, with full support for Ethereum wallets, including MetaMask, enabled by Aurora Labs. This compatibility will allow Ethereum users to access Near’s applications and features without needing new wallets or assets, broadening Near’s reach to Ethereum’s large user base.
The integration introduces Ethereum users to Near’s Chain Signatures and Chain Abstraction features, enhancing cross-chain interactions and simplifying the DeFi onboarding experience.
Polosukhin noted that enabling Ethereum wallets for Near apps helps Near achieve its broader vision of chain abstraction, which aims to create a seamless Web3 experience. “Now, any user with an Ethereum wallet can explore experiences on Near and other chains without needing to switch wallets,” he added.
This new wallet compatibility is a significant step for Near Protocol, aligning with its mission to make blockchain more accessible and interconnected. By reducing barriers across blockchain ecosystems, Near hopes to attract users, developers, and liquidity from all corners of the crypto landscape, making decentralized applications more accessible to a wider audience.