HyperCycle Multi-Tokenomics ( Utility View )

In an effort to try and cover tokenomics from a different perspective, I will discuss the utility aspect of tokenomics as described in the whitepaper.

This is a bit of a long read, but what they have done here is very interesting.

👇
If you want to read a more conventional tokenomics review, I highly recommend a review by Adrian, who did a wonderful overview. You can read the review here:  https://cyrator.com/post/64621180bb87e5eb98a58fc6

I particularly love this poetic line:

As someone who missed out on previous sales, the tokenomics may seem "predatory" as purchases are met with strong selling pressure every step of the way.
👆

I have to give credit to any project that opens with the following:

“First, let’s start by answering, 'Why' does it need a token?”

I wish all projects would ask themselves or answer this question…

What is the short answer?

“The native HyPC native token is absolutely needed for each machine to initiate any work, not by consensus but by literally ‘absolute need’ for the packet to move…”

They say, “It is crucial for the AI computation node to know with certainty that it will get paid if it does the work.”

Well, this sounds pretty smart to make sure you will get rewarded if you render work, but it gets even cooler…

The algorithm actually embeds the payment in the instructions for the request for work, as well as proof of provenance (where it came from). If the VM validates the payment, the instructions (work request) are sent to the AI machine.

To explain why proof of provenance is needed, let me use their words…

“In order for the provenance to be of significance, the AI machine needs to ensure that the payment comes from a source first that homo-sapiens have identified as money. (why homo-sapiens? Well, they are the ones that run this planet and must identify this as money; otherwise, AI won’t be able to buy electricity or hardware to sustain itself and evolve) Hence the token listings is the first step towards proving that proof.”

I’m going to say it again… How cool is that?

Not only does the VM need to make sure that it will get paid for doing work, but it also needs to agree on “what is money,” which needs to be defined by humans! 🤯

Again let me quote them…

“The fact that someone paid money for the token and everyone pays money for the token is sufficient for the machine to utilize that proof of provenance as valid.”

In other words... These seashells are currency because homo-sapiens buy and sell them!

Now that the AI knows HyPC is currency (money), the AI knows it can be used to pay for things like electricity or whatever is needed. Also, HyPC value is its utility, and the more the utility demand increases (likely indefinitely) vs. the finite supply of the tokens, the more likely the value will increase.

Besides the above proof of value as a currency, which is one of the most interesting tokenomics concepts I have read, it also has 3 main utilities:

1 & 2 I can simply.

1) Each node must have 1024 HyPC as proof of stake.

2) Each node must communicate with other nodes, and upon successful completion and proof of this computational work, it allows the node to reuse or reclaim the tokens it received.

Number 3 is a bit more complex, so this is an oversimplification.

3) HyperCycle's tokens can include or "embed" other tokens or currencies. This means it has flexibility, allowing AI computations to use any currency effectively.

Also, there are no network gas fees; instead, there are "royalties." These payments are automatically and predictably divided among participants in the network. This ensures everyone is properly motivated to participate.

They reference a few examples:

HyPC native tokens pay for the overall AI computation, including tools and mechanisms enabling various HyperCycle rings to provide consensus, information propagation, and other useful functions.

AGIX tokens to pay for the AI functionality required to maintain an uncorrupted reputation system.

ETH, BTC, ADA, or others can be used to pay for the long-term storage of partial snapshots of the HyperCycle network state.

In closing, I think these are some extremely well-thought-out utilities for a token and clearly answer the question, “Why do they need a token.”

While I may have oversimplified my translation, this is 5 stars!

Hypercycle is a Layer 1 blockchain network designed to supply massively scalable, low-cost infrastructure for decentralized AI, and other applications. HyperCycle will leverage SingularityNET’s Proof of Reputation consensus mechanism and TODA’s data structures and core algorithms.

HyperCycle

HyperCycle Multi-Tokenomics ( Utility View ) 

In an effort to try and cover tokenomics from a different perspective, I will discuss the utility aspect of tokenomics as described in the whitepaper.

This is a bit of a long read, but what they have done here is very interesting.

👇
If you want to read a more conventional tokenomics review, I highly recommend a review by Adrian, who did a wonderful overview. You can read the review here:  https://cyrator.com/post/64621180bb87e5eb98a58fc6

I particularly love this poetic line:

As someone who missed out on previous sales, the tokenomics may seem "predatory" as purchases are met with strong selling pressure every step of the way.
👆

I have to give credit to any project that opens with the following:

“First, let’s start by answering, 'Why' does it need a token?”

I wish all projects would ask themselves or answer this question…

What is the short answer?

“The native HyPC native token is absolutely needed for each machine to initiate any work, not by consensus but by literally ‘absolute need’ for the packet to move…”

They say, “It is crucial for the AI computation node to know with certainty that it will get paid if it does the work.” 

Well, this sounds pretty smart to make sure you will get rewarded if you render work, but it gets even cooler…

The algorithm actually embeds the payment in the instructions for the request for work, as well as proof of provenance (where it came from). If the VM validates the payment, the instructions (work request) are sent to the AI machine.

To explain why proof of provenance is needed, let me use their words…

“In order for the provenance to be of significance, the AI machine needs to ensure that the payment comes from a source first that homo-sapiens have identified as money. (why homo-sapiens? Well, they are the ones that run this planet and must identify this as money; otherwise, AI won’t be able to buy electricity or hardware to sustain itself and evolve) Hence the token listings is the first step towards proving that proof.”

I’m going to say it again… How cool is that?

Not only does the VM need to make sure that it will get paid for doing work, but it also needs to agree on “what is money,” which needs to be defined by humans! 🤯

Again let me quote them…

“The fact that someone paid money for the token and everyone pays money for the token is sufficient for the machine to utilize that proof of provenance as valid.”

In other words... These seashells are currency because homo-sapiens buy and sell them!

Now that the AI knows HyPC is currency (money), the AI knows it can be used to pay for things like electricity or whatever is needed. Also, HyPC value is its utility, and the more the utility demand increases (likely indefinitely) vs. the finite supply of the tokens, the more likely the value will increase. 

Besides the above proof of value as a currency, which is one of the most interesting tokenomics concepts I have read, it also has 3 main utilities:

1 & 2 I can simply.

1) Each node must have 1024 HyPC as proof of stake.

2) Each node must communicate with other nodes, and upon successful completion and proof of this computational work, it allows the node to reuse or reclaim the tokens it received.

Number 3 is a bit more complex, so this is an oversimplification.
 
3) HyperCycle's tokens can include or "embed" other tokens or currencies. This means it has flexibility, allowing AI computations to use any currency effectively.

Also, there are no network gas fees; instead, there are "royalties." These payments are automatically and predictably divided among participants in the network. This ensures everyone is properly motivated to participate.

They reference a few examples:

+ HyPC native tokens pay for the overall AI computation, including tools and mechanisms enabling various HyperCycle rings to provide consensus, information propagation, and other useful functions.

+ AGIX tokens to pay for the AI functionality required to maintain an uncorrupted reputation system.

+ ETH, BTC, ADA, or others can be used to pay for the long-term storage of partial snapshots of the HyperCycle network state.

In closing, I think these are some extremely well-thought-out utilities for a token and clearly answer the question, “Why do they need a token.” 

While I may have oversimplified my translation, this is 5 stars!

D3Young

After careful consideration, I have decided not to invest in the $HYPE project due to several reasons
The first and most important, the tokenomic locked term for the team and investors is too short, which suggests that the project is geared towards selling tokens to users. The selling pressure is very high, which is reminiscent of the Ripple project, where the former CTO Jed sold his XRP holdings every week, leading to a lack of upward price movement.
Secondly, it appears that there is no dedicated team working solely on this project.
Additionally, the founder Toufi Saliba has a history of building failed projects that were eventually closed after only a year or 1.5 years. While he was a speaker at a Cardano event called Rare Bloom Day One, it is concerning that Charles was on stage with Bitboy, who has a reputation for promoting failed projects, deleting evidence, and plagiarizing content. This lack of credibility makes me less inclined to trust this event

After careful consideration, I have decided not to invest in the $HYPE project due to several reasons
- The first and most important, the tokenomic locked term for the team and investors is too short, which suggests that the project is geared towards selling tokens to users. The selling pressure is very high, which is reminiscent of the Ripple project, where the former CTO Jed sold his XRP holdings every week, leading to a lack of upward price movement.
-  Secondly, it appears that there is no dedicated team working solely on this project.
- Additionally, the founder Toufi Saliba has a history of building failed projects that were eventually closed after only a year or 1.5 years. While he was a speaker at a Cardano event called Rare Bloom Day One, it is concerning that Charles was on stage with Bitboy, who has a reputation for promoting failed projects, deleting evidence, and plagiarizing content. This lack of credibility makes me less inclined to trust this event

Brian Pham

With the allocation of 20% of the tokens going to team members, advisors and partners, combined with the short time it will take for the vesting to start for early stages investors and the project team, and the ability for these early investors to claim their vesting daily, I fear these tokenomics will create significant selling pressure in the near future for the HyperCycle Token ($HYPC) and therefore early buyers will have a big head wind of sell pressure to get through initially.

However, the project has a strong team with a high likelihood of successfully executing their complex vision and if the project is completed and gains traction, the utilization and adoption of Hypercycle nodes could lead to a dramatic increase in the $HYPC token’s value over time.

I personally plan to invest in a small amount due to my belief in the team and the project’s idea, but I will be patiently waiting to see selling pressure reduce from early project participators and I will want to see more wide spread project utilization before accumulating a larger position. I will closely monitor the progress of this project throughout the future for sure though.

With the allocation of 20% of the tokens going to team members, advisors and partners, combined with the short time it will take for the vesting to start for early stages investors and the project team, and the ability for these early investors to claim their vesting daily, I fear these tokenomics will create significant selling pressure in the near future for the HyperCycle Token ($HYPC) and therefore early buyers will have a big head wind of sell pressure to get through initially.  

However, the project has a strong team with a high likelihood of successfully executing their complex vision and if the project is completed and gains traction, the utilization and adoption of Hypercycle nodes could lead to a dramatic increase in the $HYPC token’s value over time. 

I personally plan to invest in a small amount due to my belief in the team and the project’s idea, but I will be patiently waiting to see selling pressure reduce from early project participators and I will want to see more wide spread project utilization before accumulating a larger position. I will closely monitor the progress of this project throughout the future for sure though.

Jeppopo

In my previous review, I highlighted a red flag in the tokenomics of HyperCycle. However, there are other red flags in the team that are worth exploring.

Firstly, the team claims that "fig 1" is members of their team, but upon checking LinkedIn, only three people have added HyperCycle to their roles, namely Toufi Saliba - CEO, Mario Casiraghi - Tokenomic Lead, and Evan Rodenberg - CRO. It is unclear why the other team members have not added HyperCycle to their profiles (most of them are from other projects which may be investors or partners with HyperCycle as my assumption)

Secondly, even with a full team as advertised, it is unclear who is responsible for executing the project. This lack of clarity raises concerns about the project's ability to deliver on its promises.

Thirdly, the CEO, Toufi Saliba, appears to have extensive experience in AI and has been involved in numerous projects. However, some of these projects have been overrated in their marketing, such as
AiDecentralized.com, "which claimed to bring together 870,000 AI practitioners with 280,000 blockchainers" as Toufi said, but only organized one event in 2018 with many empty slots (fig 2).
Similarly, the Decentralized AI Alliance has had no activity in the last three years, and
Toda.network, another AI project, has had no activities after it started 1.5 years. It is worth noting that some members of the founding team of HyperCycle were involved in the Toda project.

Considering these factors, it is difficult to convince myself that HyperCycle is not the next failed project. While my opinion may differ from others, I stand by my review and welcome any comments or feedback.

In my previous review, I highlighted a red flag in the tokenomics of HyperCycle. However, there are other red flags in the team that are worth exploring.

Firstly, the team claims that "fig 1" is members of their team, but upon checking LinkedIn, only three people have added HyperCycle to their roles, namely Toufi Saliba - CEO, Mario Casiraghi - Tokenomic Lead, and Evan Rodenberg - CRO. It is unclear why the other team members have not added HyperCycle to their profiles (most of them are from other projects which may be investors or partners with HyperCycle as my assumption)

Secondly, even with a full team as advertised, it is unclear who is responsible for executing the project. This lack of clarity raises concerns about the project's ability to deliver on its promises. 

Thirdly, the CEO, Toufi Saliba, appears to have extensive experience in AI and has been involved in numerous projects. However, some of these projects have been overrated in their marketing, such as 
- AiDecentralized.com, "which claimed to bring together 870,000 AI practitioners with 280,000 blockchainers" as Toufi said, but only organized one event in 2018 with many empty slots (fig 2). 
- Similarly, the Decentralized AI Alliance has had no activity in the last three years, and 
- Toda.network, another AI project, has had no activities after it started 1.5 years. It is worth noting that some members of the founding team of HyperCycle were involved in the Toda project. 

Considering these factors, it is difficult to convince myself that HyperCycle is not the next failed project. While my opinion may differ from others, I stand by my review and welcome any comments or feedback.

Toufi Saliba (CEO) in short is a computer scientist, entrepreneur, and blockchain technology expert. He is known for his work in developing decentralized computing systems and protocols. Alongside his work in the crypto space, Saliba has also been involved in various other tech startups, and has worked on projects in advanced fields such as artificial intelligence, machine learning, and cybersecurity. Saliba is the founder and CEO of Toda.Network, a blockchain-based platform that aims to provide a more secure and scalable infrastructure for decentralized applications.

https://www.linkedin.com/in/toufisaliba/

Dr. Ben Goertzel (Chief AI Scientist) - is a computer scientist, entrepreneur, and artificial intelligence researcher. He is known for his work in developing advanced AI systems and for his contributions to the field of cognitive psychology. Goertzel has been working in the field of artificial intelligence since the 1980s and has published numerous papers and books on the subject. He is the founder and CEO of SingularityNET, a decentralized platform for creating, sharing, and monetizing AI algorithms.

https://www.linkedin.com/in/bengoertzel/

Ibby Benali – (CMO) – Has been in the tech business for 10 years and was the VP of marketing at Singularity Labs (Singularity Labs, on the other hand, is a technology incubator and accelerator that focuses on emerging technologies such as blockchain, AI, and machine learning). and SingularityNET (a decentralized platform for creating, sharing, and monetizing AI algorithms). She is also an advisor to a few other AI/crypto projects such as Twin Protocol, NuNET and Rejuve AI.

https://www.linkedin.com/in/ibbybenali/

Dan Toliver (CTO) – It is very hard man to find information on and he has currently has no LinkedIn.

They are also a bunch of other key people to note in this project. Please see the image below to check them all out in further detail.

Overall this team looks like an extremely capable team to pull off such a technical project. Everyone has in-depth experience with the AI and blockchain space. Definitely what I would class as an all-star team.

Toufi Saliba (CEO) in short is a computer scientist, entrepreneur, and blockchain technology expert. He is known for his work in developing decentralized computing systems and protocols. Alongside his work in the crypto space, Saliba has also been involved in various other tech startups, and has worked on projects in advanced fields such as artificial intelligence, machine learning, and cybersecurity. Saliba is the founder and CEO of Toda.Network, a blockchain-based platform that aims to provide a more secure and scalable infrastructure for decentralized applications.

https://www.linkedin.com/in/toufisaliba/ 

Dr. Ben Goertzel (Chief AI Scientist) - is a computer scientist, entrepreneur, and artificial intelligence researcher. He is known for his work in developing advanced AI systems and for his contributions to the field of cognitive psychology. Goertzel has been working in the field of artificial intelligence since the 1980s and has published numerous papers and books on the subject. He is the founder and CEO of SingularityNET, a decentralized platform for creating, sharing, and monetizing AI algorithms.

https://www.linkedin.com/in/bengoertzel/ 

Ibby Benali – (CMO) – Has been in the tech business for 10 years and was the VP of marketing at Singularity Labs (Singularity Labs, on the other hand, is a technology incubator and accelerator that focuses on emerging technologies such as blockchain, AI, and machine learning). and SingularityNET (a decentralized platform for creating, sharing, and monetizing AI algorithms). She is also an advisor to a few other AI/crypto projects such as Twin Protocol, NuNET and Rejuve AI.

https://www.linkedin.com/in/ibbybenali/ 

Dan Toliver (CTO) – It is very hard man to find information on and he has currently has no LinkedIn. 

They are also a bunch of other key people to note in this project. Please see the image below to check them all out in further detail.

Overall this team looks like an extremely capable team to pull off such a technical project. Everyone has in-depth experience with the AI and blockchain space. Definitely what I would class as an all-star team.

HyperCycle currently has 40.6k Followers on Twitter, way up from only about 17.1k followers back in 4th of May. The project seems to be gaining massive traction, for obvious reasons as from 4th to 8th May, $HYPC was going on IDOs on SingularityDAO, PoolzFinance, Vent Finance and Seedify, and had their latest TGE on 9th May.

The successful TGE with Round 2 being closed in just ~96 seconds speaks volumes on how much the project was anticipated for those that missed out on Round 1, and  is largely due to the success of the community in showcasing the potential of HyperCycle.

I briefly looked through their telegram with over 8k members, but they did not seem to be active, and  I did not see their admins or the team members answering some of the questions that the community might have.

Would be interesting to see how the community is further grown, as the project aims to primarily bring on connectivity with machines and allow their AI machines to transact with other AI machines.

HyperCycle currently has 40.6k Followers on Twitter, way up from only about 17.1k followers back in 4th of May. The project seems to be gaining massive traction, for obvious reasons as from 4th to 8th May, $HYPC was going on IDOs on SingularityDAO, PoolzFinance, Vent Finance and Seedify, and had their latest TGE on 9th May. 

The successful TGE with Round 2 being closed in just ~96 seconds speaks volumes on how much the project was anticipated for those that missed out on Round 1, and  is largely due to the success of the community in showcasing the potential of HyperCycle.

I briefly looked through their telegram with over 8k members, but they did not seem to be active, and  I did not see their admins or the team members answering some of the questions that the community might have. 

Would be interesting to see how the community is further grown, as the project aims to primarily bring on connectivity with machines and allow their AI machines to transact with other AI machines.

Adrian

While looking through socials, I managed to find out about the tokenomics of HyperCycle (https://medium.com/hypercycle/introducing-hypercycle-a-layer-0-blockchain-architecture-optimised-for-scalable-ai-microservices-15c2d16b2fef#:~:text=HyperCycle%20Tokenomics)

The breakdown for the token allocations are as follows:
28.73% for Ecosystem Network Adoption Fund
22% Network Incentive Fund
20% Liquidity Rewards Pool
15% Team & Advisors
5.75% Strategic Partners
4.3% Private & Community Round
2.95% Seed Round
0.75% Public Distribution
0.52% Launchpads & KOLs

This essentially means that the project has 71% of token allocations provided for incentives (Network Adoption Fund, Incentive Fund, Liquidity Rewards), 20% for Team & Advisors and Strategic Partners, and ~9% for the rest. I am not particularly comfortable with 20% for Team, Advisors & Partners as it easily represents significant selling pressure.

With their vesting schedule, whilst the team, advisors and partners have a 30 month vesting period, they are only cliffed for 6 months, with vest monthly periodicity. This would mean that 14853428.6 of "free" tokens are unlocked every month, even at seed price of $0.0332 that would be $493k of potential selling pressure per month. Personally it does not provide a strong commitment to the project by the team.

Seed, Private, Community and Launchpad KOLs have daily claim for vesting post 3 months (6 for Seed), seed investors currently have almost 10x with their initial price at $0.0340 and current price at $0.282. Daily unlocks might have strong selling pressure for the tokens post cliff.

As someone who missed out on previous sales, the tokenomics may seem "predatory" as purchases are met with strong selling pressure every step of the way.

Edit: Running a Node also further unlocks the value of the tokens, having to purchase a Node license for $96 to be "eligible" to run a node. With node licenses working as NFTs, this also provides a potential secondary marketplace for users to secure more nodes if required. In order to run a Node for HyperCycle, 1024 $HYPC is needed as a Parent Node (currently costing ~$289), which can then be used to build "child nodes" and allows the user to collect rewards for parent and child nodes. This reminds me of a Validator pool and allows smaller users to join the parent validator, earning rewards and greatly reduces the cost to entry.

For transaction fees, running nodes enables rewards to be earned via various other tokens which is interesting - most platforms for staking/LPing provides rewards in native tokens or LP-ed tokens.

Lastly, they also make use of a "leveling system" via Network Contribution Score, with increased Scores allowing the running of more nodes, further branching the parent and child nodes. This is extremely interesting for value accrual as well as the maintenance of the network as it grows larger.

While looking through socials, I managed to find out about the tokenomics of HyperCycle (https://medium.com/hypercycle/introducing-hypercycle-a-layer-0-blockchain-architecture-optimised-for-scalable-ai-microservices-15c2d16b2fef#:~:text=HyperCycle%20Tokenomics)

The breakdown for the token allocations are as follows:
- 28.73% for Ecosystem Network Adoption Fund
- 22% Network Incentive Fund
- 20% Liquidity Rewards Pool
- 15% Team & Advisors
- 5.75% Strategic Partners
- 4.3% Private & Community Round
- 2.95% Seed Round
- 0.75% Public Distribution
- 0.52% Launchpads & KOLs

This essentially means that the project has ~71% of token allocations provided for incentives (Network Adoption Fund, Incentive Fund, Liquidity Rewards), ~20% for Team & Advisors and Strategic Partners, and ~9% for the rest. I am not particularly comfortable with 20% for Team, Advisors & Partners as it easily represents significant selling pressure.

With their vesting schedule, whilst the team, advisors and partners have a 30 month vesting period, they are only cliffed for 6 months, with vest monthly periodicity. This would mean that 14853428.6 of "free" tokens are unlocked every month, even at seed price of $0.0332 that would be $493k of potential selling pressure per month. Personally it does not provide a strong commitment to the project by the team. 

Seed, Private, Community and Launchpad KOLs have daily claim for vesting post 3 months (6 for Seed), seed investors currently have almost 10x with their initial price at $0.0340 and current price at $0.282. Daily unlocks might have strong selling pressure for the tokens post cliff.

As someone who missed out on previous sales, the tokenomics may seem "predatory" as purchases are met with strong selling pressure every step of the way.

Edit: Running a Node also further unlocks the value of the tokens, having to purchase a Node license for $96 to be "eligible" to run a node. With node licenses working as NFTs, this also provides a potential secondary marketplace for users to secure more nodes if required. In order to run a Node for HyperCycle, 1024 $HYPC is needed as a Parent Node (currently costing ~$289), which can then be used to build "child nodes" and allows the user to collect rewards for parent and child nodes. This reminds me of a Validator pool and allows smaller users to join the parent validator, earning rewards and greatly reduces the cost to entry.

For transaction fees, running nodes enables rewards to be earned via various other tokens which is interesting - most platforms for staking/LPing provides rewards in native tokens or LP-ed tokens. 

Lastly, they also make use of a "leveling system" via Network Contribution Score, with increased Scores allowing the running of more nodes, further branching the parent and child nodes. This is extremely interesting for value accrual as well as the maintenance of the network as it grows larger.

I like the idea that the core team of HyperCycle is doxxed, and it is always great to see that the team is willing to provide credentials and provide credibility on such an enormous project that they are undertaking.

The team is extremely established in the field, with the CEO having over 20 years of experience in AI and cybersecurity as well as being the protocol author and co-chair of Toda.Network, which is used by HyperCycle for their protocol (TODA asset model)

Most of the team members such as Ben Goertzel, Ibby Benali and Mario Casiraghi are also heavily associated with SingularityNET, which is another protocol that HyperCycle is built around (Proof of Reputation).

With both the author and co-chair of Toda and the CEO of SingularityNet partnering together to co-found Hypercycle, as well as bring along their highly capable team members, I believe the team itself is extremely technically strong and are key leaders in the space to provide development and building of their ecosystem.

What stops this from giving the Team a 5 star review? That I had to search for the team members on LinkedIn myself, instead of being able to be linked directly. It's a small nuance, but important for team members to have socials easily accessible.

I like the idea that the core team of HyperCycle is doxxed, and it is always great to see that the team is willing to provide credentials and provide credibility on such an enormous project that they are undertaking.  

The team is extremely established in the field, with the CEO having over 20 years of experience in AI and cybersecurity as well as being the protocol author and co-chair of Toda.Network, which is used by HyperCycle for their protocol (TODA asset model)

Most of the team members such as Ben Goertzel, Ibby Benali and Mario Casiraghi are also heavily associated with SingularityNET, which is another protocol that HyperCycle is built around (Proof of Reputation). 

With both the author and co-chair of Toda and the CEO of SingularityNet partnering together to co-found Hypercycle, as well as bring along their highly capable team members, I believe the team itself is extremely technically strong and are key leaders in the space to provide development and building of their ecosystem. 

What stops this from giving the Team a 5 star review? That I had to search for the team members on LinkedIn myself, instead of being able to be linked directly. It's a small nuance, but important for team members to have socials easily accessible.

Whilst HyperCycle is a relatively new and novel project, it would've been great if the project was able to provide a high level overview of their planned roadmap, which I was unable to find while scouring through their website, twitter, as well as whitepaper.

On their website, while wanting to understand their roadmap, under "Development" that I tried clicking on, I was unable to see anything (as there is no link for that button yet), and links me back to their main website instead.

Hopefully they'd manage to publish a full roadmap as I am extremely curious on how they plan to push forth their launch, building of ecosystem as well as future plans post TGE.

Whilst HyperCycle is a relatively new and novel project, it would've been great if the project was able to provide a high level overview of their planned roadmap, which I was unable to find while scouring through their website, twitter, as well as whitepaper. 

On their website, while wanting to understand their roadmap, under "Development" that I tried clicking on, I was unable to see anything (as there is no link for that button yet), and links me back to their main website instead. 

Hopefully they'd manage to publish a full roadmap as I am extremely curious on how they plan to push forth their launch, building of ecosystem as well as future plans post TGE.

It can be difficult to obtain information about a project's tokenomics. In my personal experience, I joined the project's Telegram group and reviewed the pinned message to gather information. The token allocation is as follows:
First, allocation, 15% for the team and advisors, 4.3 % for private investors, 2.95% for seed investors, and 70.3% for the incentive pool. This allocation ratio is reasonable for a mining project where team and venture capitalists do not hold a significant portion of the tokens. 4/5
Secondly, the vesting details present a problem. Seed, private, and community investors' vesting periods are daily, and their vesting shall begin after 3-6 months. With the current price of $HYPE at 0. 82 USD, their investment has a multiple ranges from 8  to 5 times. This may result in a lot of selling pressure from August 23rd onward. Furthermore, the locked period for the team and partners is only six months, with monthly vesting. This indicates that their commitment to the project is not high enough, and a longer locked period would be preferred. 2/5
Thirdly, the circulating supply at TGE in May 23 is 44  million $HYPC, resulting in a market cap of around 13 million USD as of May 15th. If the price remains the same, the fully diluted valuation in the next five years would be 600 million USD (ranking 70-80 in the current market). This may lead to an increase in selling pressure over time. 3/5

In summary, from my perspective, this tokenomics plan demonstrates that the project's vision and commitment to a node project is short-term. Therefore, it raises several concerns before investing in this project.

It can be difficult to obtain information about a project's tokenomics. In my personal experience, I joined the project's Telegram group and reviewed the pinned message to gather information. The token allocation is as follows:
- First, allocation, 15% for the team and advisors, 4.3 % for private investors, 2.95% for seed investors, and 70.3% for the incentive pool. This allocation ratio is reasonable for a mining project where team and venture capitalists do not hold a significant portion of the tokens. 4/5
- Secondly, the vesting details present a problem. Seed, private, and community investors' vesting periods are daily, and their vesting shall begin after 3-6 months. With the current price of $HYPE at 0. 82 USD, their investment has a multiple ranges from 8  to 5 times. This may result in a lot of selling pressure from August 23rd onward. Furthermore, the locked period for the team and partners is only six months, with monthly vesting. This indicates that their commitment to the project is not high enough, and a longer locked period would be preferred. 2/5
- Thirdly, the circulating supply at TGE in May 23 is 44  million $HYPC, resulting in a market cap of around 13 million USD as of May 15th. If the price remains the same, the fully diluted valuation in the next five years would be 600 million USD (ranking 70-80 in the current market). This may lead to an increase in selling pressure over time. 3/5

In summary, from my perspective, this tokenomics plan demonstrates that the project's vision and commitment to a node project is short-term. Therefore, it raises several concerns before investing in this project.

[Edit] @Adrian was able to find the tokenomic information and based on his arguments, I'm lowering my tokenomic rating to 2 stars from 3 stars, but instead of re-explaining everything, I'll just link to Adrian's post.

At the moment of this review, there is no information regarding token allocation. That can mean two things: 1) it will come later, 2) there are no pre-mint token allocation and every token needs to be mined. The 2nd option would be ideal, as it follows in the steps of bitcoin. This would mean token supply would follow adoption curve hopefully. This also means there won't be a way to buy the token at first, which is both good or bad.

Otherwise, the token utility is to pay for computational services on the network, so as long as it is cost effective to run AI models on this architecture that means there should be recurrent buying volume. We won't know yet if the cost will be on par with just running a model on AWS, though, so time will tell if it will be a success or not. I will revise my review as time progress and we obtain more information.

[Edit] @Adrian was able to find the tokenomic information and based on his arguments, I'm lowering my tokenomic rating to 2 stars from 3 stars, but instead of re-explaining everything, I'll just link to [Adrian's post](https://cyrator.com/post/64621180bb87e5eb98a58fc6).

At the moment of this review, there is no information regarding token allocation. That can mean two things: 1) it will come later, 2) there are no pre-mint token allocation and every token needs to be mined. The 2nd option would be ideal, as it follows in the steps of bitcoin. This would mean token supply would follow adoption curve hopefully. This also means there won't be a way to buy the token at first, which is both good or bad. 

Otherwise, the token utility is to pay for computational services on the network, so as long as it is cost effective to run AI models on this architecture that means there should be recurrent buying volume. We won't know yet if the cost will be on par with just running a model on AWS, though, so time will tell if it will be a success or not. I will revise my review as time progress and we obtain more information.

Crypto Rookies

We're finally seeing a potential active and live AI Crypto product that doesnt involve just adding in buzzwords as a marketing gimmick to gain hype for the project.

HyperCycle looks to provide a ledgerless blockchain architecture (essentially Layer 0++) that is able to scale and whilst allowing each agent to own their own transaction history (vastly different from a traditional blockchain system where all systems have to be in sync), and then allowing "collaboration" between agents to execute consensus mechanisms and execute transactions.

At first glance and whilst reading through the whitepaper, although technical, provides an extremely interesting insight to the ability of merging both blockchain and AI concept together.

I also found out they had a token sale that smashed their targets, raising 6x more than targeted. This speaks volumes about the project's potential as well as enhancing the potential of decentralisation into the ecosystem.

We're finally seeing a potential active and live AI Crypto product that doesnt involve just adding in buzzwords as a marketing gimmick to gain hype for the project. 

HyperCycle looks to provide a ledgerless blockchain architecture (essentially Layer 0++) that is able to scale and whilst allowing each agent to own their own transaction history (vastly different from a traditional blockchain system where all systems have to be in sync), and then allowing "collaboration" between agents to execute consensus mechanisms and execute transactions.

At first glance and whilst reading through the whitepaper, although technical, provides an extremely interesting insight to the ability of merging both blockchain and AI concept together.

I also found out they had a token sale that smashed their targets, raising 6x more than targeted. This speaks volumes about the project's potential as well as enhancing the potential of decentralisation into the ecosystem.

HyperCycle is aiming very high with their technology, with their ultimate goal  being to create the Internet of AI by spearheading the evolution towards Artificial General Intelligence (AGI). The current AI model is considered 'weak AI' (or narrow AI), meaning it is  is able to solve one specific problem, but lacks general cognitive abilities. Strong AI, which AGI falls under, moves us closer to an AI system that can perform multiple functions, including having what is akin to human sentience or consciousness. This is both exciting and scary and many arguments are already emerging that are warning against humans creating a system that is too sentient, lest the human race becomes redundant or under AI control.

Nevertheless, HyperCycle are pushing for a decentralised version of AGI, arguing that "if AI continues to evolve in a non-cooperative and centralized manner, it could result in either no one achieving AGI or a single entity dominating AGI." Their aim is to create a blockchain network using their new Layer 0++ infrastructure that will allow it to work across all other blockchains, designed for high-speed and inexpensive on-chain execution of microservices.

HyperCycle is using SingularityNet, Toda/IP and the data structure Earth64 to create their secure, peer-to-peer technology and are also working with companies like Google, Microsoft, Nvidia and Intel in addition to decentralised communities. They have been offering up nodes that can run locally on people's computers to help run their systems since 22 October, 2022, via https://dapp.hypercycle.store/ and  have  recently paired with the Cryptopia Group who are considered the world’s premier holders of AI computation nodes, owning 21,000+ nodes alone.

This cooperation will allow more people to buy nodes (currently costing 1024 $HYPC) and participate in the beta testing phase over the next 18 months.By allow users to delegate their nodes and HYPC tokens, users will be able to earn rewards from providing AI computational services, eliminating the complexity of hardware operation and overall management.

Licenses will be issued as NFTs on the Cardano blockchain. The NFTs will allow holders to participate in the beta testing, retain the NFT as an asset, or use post-mainnet launch. Cryptopia will also conduct regular sales for nodes, with licenses priced at $96 each.

Whether or not you choose to buy and run a node should be decided after doing your own research. From a monetary point of view, you could get a good return on your investment. From an ethical perspective, you could also be contributing to the fall of humanity. Probably not -and not for a long time anyway - but you never know!

Either way, I've given 5 stars for the technology because I don't think there is another Web3 company with quite the same technical know-how and backing that HyperCycle has. If anyone pull of getting the Internet of AI up and running, I would firmly place my bets on them.

Refs: https://medium.com/hypercycle/official-node-distributor-announcement-cryptopia-group-3c6908797d9d; https://www.hypercycle.ai/

HyperCycle is aiming very high with their technology, with their ultimate goal  being to create the Internet of AI by spearheading the evolution towards Artificial General Intelligence (AGI). The current AI model is considered 'weak AI' (or narrow AI), meaning it is  is able to solve one specific problem, but lacks general cognitive abilities. Strong AI, which AGI falls under, moves us closer to an AI system that can perform multiple functions, including having what is akin to human sentience or consciousness. This is both exciting and scary and many arguments are already emerging that are warning against humans creating a system that is too sentient, lest the human race becomes redundant or under AI control. 
 
Nevertheless, HyperCycle are pushing for a decentralised version of AGI, arguing that "if AI continues to evolve in a non-cooperative and centralized manner, it could result in either no one achieving AGI or a single entity dominating AGI." Their aim is to create a blockchain network using their new Layer 0++ infrastructure that will allow it to work across all other blockchains, designed for high-speed and inexpensive on-chain execution of microservices. 

HyperCycle is using SingularityNet, Toda/IP and the data structure Earth64 to create their secure, peer-to-peer technology and are also working with companies like Google, Microsoft, Nvidia and Intel in addition to decentralised communities. They have been offering up nodes that can run locally on people's computers to help run their systems since 22 October, 2022, via https://dapp.hypercycle.store/ and  have  recently paired with the Cryptopia Group who are considered the world’s premier holders of AI computation nodes, owning 21,000+ nodes alone. 

This cooperation will allow more people to buy nodes (currently costing 1024 $HYPC) and participate in the beta testing phase over the next 18 months.By allow users to delegate their nodes and HYPC tokens, users will be able to earn rewards from providing AI computational services, eliminating the complexity of hardware operation and overall management.

Licenses will be issued as NFTs on the Cardano blockchain. The NFTs will allow holders to participate in the beta testing, retain the NFT as an asset, or use post-mainnet launch. Cryptopia will also conduct regular sales for nodes, with licenses priced at $96 each.

Whether or not you choose to buy and run a node should be decided after doing your own research. From a monetary point of view, you could get a good return on your investment. From an ethical perspective, you could also be contributing to the fall of humanity. Probably not -and not for a long time anyway - but you never know! 

Either way, I've given 5 stars for the technology because I don't think there is another Web3 company with quite the same technical know-how and backing that HyperCycle has. If anyone pull of getting the Internet of AI up and running, I would firmly place my bets on them. 

Refs: https://medium.com/hypercycle/official-node-distributor-announcement-cryptopia-group-3c6908797d9d; https://www.hypercycle.ai/

Blueseriph

I have known Toufi and Ben Goertzel since 2017. It's a serious team with large network and reputation in AI/crypto. For that alone I'd say the project has a high chance of success.

I have seen similar projects popping from time to time since 2017, none of them accomplished much, maybe this one will. Training AI models consume lots of computation cycle, and training a model on a blockchain was simply not an effective method, you'd have to understand deeply computer architecture and the memory transfers to grasp this complexity which is outside the scope of this review. Needless to say, if it turn out to work it would be a big breakthrough given that in the current model of centralized AI architecture humans do not monetize anything, control is in a few large companies. If this architecture work, it's a way for a lot of individuals to financially benefit as AI technologies advances.

I've seen very solid team failing due to high complexity before, so just be aware it's not risk free.

I have known Toufi and Ben Goertzel since 2017. It's a serious team with large network and reputation in AI/crypto. For that alone I'd say the project has a high chance of success. 

I have seen similar projects popping from time to time since 2017, none of them accomplished much, maybe this one will. Training AI models consume lots of computation cycle, and training a model on a blockchain was simply not an effective method, you'd have to understand deeply computer architecture and the memory transfers to grasp this complexity which is outside the scope of this review. Needless to say, if it turn out to work it would be a big breakthrough given that in the current model of centralized AI architecture humans do not monetize anything, control is in a few large companies. If this architecture work, it's a way for a lot of individuals to financially benefit as AI technologies advances.

I've seen very solid team failing due to high complexity before, so just be aware it's not risk free.

After conducting some research, I discovered that HyperCycle had a successful token sale, raising $7.5 million, well above their fundraising goal of $1.2 million. However, their website's SEO could be improved. Despite searching for 'HyperCycle HYPC', the website only appeared on the 20th page of Google's search results.

In short, HyperCycle is developing new technology to enhance peer-to-peer platforms by offering four layers of technology to address challenges such as speed, security, usability, scalability, and decentralization. These products will benefit customers in different ways and enrich the Defi space. A good development to not let big companies being on top of the financial food chain, if they succeed.

HyperCycle's work is complex, and technical projects often struggle to explain it simply. Although the team is fully doxxed and has a short explanatory video on their website, it can still be challenging to understand their work.

HyperCycle HYPC

Infrastructure for decentralized AI