Swan May 2024 Monthly Report

Swan Chain - Building A Full Toolset AI Blockchain

5 min readJun 6, 2024

The Swan Chain team is constantly optimizing existing products, hoping to bring you a better experience. In the meantime, we continue to create new products and experiences, so stay tuned!

The following is a recap of what we have achieved in May.

Community Progress

🌟Updated on Atom Accelerator Race

The Swan Chain ecosystem experienced significant growth with the Atom Accelerator Race (AAR). This competition coincided with the launch of Proxima, the final testnet before Swan Chain’s mainnet goes live. The AAR ran from April 29th to June 29th, aiming to enhance the Swan Chain community in preparation for the mainnet launch.

Get all the details and join the race: https://proxima-testnet.swanchain.io/ Overview of the comprehensive AAR program: https://medium.com/@swanchain/introducing-the-atom-accelerator-race-on-swan-chain-60d2862c076f

Ecosystem Expansion: One month after the introduction of the Proxima Testnet, the Web3 ecosystem on the SWAN network continues to grow rapidly. Highlights include impressive growth across Computing Providers, On-chain Addresses, Transactions, Contracts, and ZK Rewards. Swan Computing Providers Surpassed 1,000 on Proxima Testnet !

Read more: https://x.com/swan_chain/status/1795368217172422908

Galxe Campaign Round 3 kicks off: The AAR event on GALXE attracted hundreds of thousands of participants. The 900,000 SWAN credits reward continues to captivate the audience.

Complete quests on the Galxe campaign: https://app.galxe.com/quest/filswan/GCCQuthxve

Weekly Community Event: Every Wednesday at 3:00 PM UTC, a quiz will be conducted on Telegram, and a Game Night will be hosted on Discord. A daily prize pool of 1,000 SWAN credits is available for each event, promoting an active and knowledgeable community.

Swan Credits details published: SWAN Credits are your key to content purchases on the SWAN platform. They serve as a payment method and can be converted to SWAN tokens after our Token Generation Event (TGE) at a rate of 1 SWAN = 5 Credits.

Learn more: https://x.com/swan_chain/status/1795726050011603249

⚡Consensus 2024

Swan Chain participated in Consensus 2024, engaging with special guests and attendees, and discussing DePIN and Decentralized AI. This was an opportunity to share insights on emerging technologies and their potential impact.

Read more: https://x.com/swan_chain/status/1796391156269678846

📝Tokenomics Published

Swan Chain announced the release of our tokenomics with a total supply of 1 billion $SWAN. The allocation is divided into five key sections to ensure a thriving ecosystem: Investors, DAO Treasury, Core Contributors, Ecosystem Fund, Airdrops

Detailed Information: https://swanchain.medium.com/understanding-swan-token-a-guide-to-swan-chains-tokenomics-608a32f5b9a7

🤝Collaboration with Akave

Swan Chain has partnered with Akave, a Layer2 solution built on @Filecoin, revolutionizing data management with secure encryption and seamless integration. This collaboration unlocks new possibilities for secure and scalable data storage on Swan Chain.

Read more: https://x.com/swan_chain/status/1796729037093761206

🤝Integration with DePINscan

Swan Chain is now live on DePINscan by @iotex_io, marking a significant step towards a more dynamic DePIN x AI ecosystem. This integration allows users to discover Swan Chain directly on the DePINscan platform.

Discover more: https://depinscan.io/projects/swan

📝 Post Articles

Introduction to Edge Computing Provider and Fog Computing Provider in Swan Chain: Read
Building AI Agents with Swan SDK: Read
Cointelegraph introduces SWAN as a new blockchain solution for AI. Read

Product Progress

🛠 Orchestrator:

New CP V2 version under development
Refactoring Orchestrator based on the design of CP account V2 to support CP V2 contract deployment
Planning to put more information on-chain, CPs will no longer rely on SwanHub API for task control
Optimizing task matching speed and success rate, which will greatly improve task matching speed
Designing Reputation System and integrating it with order allocation

💻 Computing Provider:

Completed CP account V2 version design and development, improving the CP account system
Refactoring CP info display method and content, providing a clearer display of basic CP information
Adopted SQLite for local data storage to optimize query speeds (new version upcoming)
ECP integration with new contracts for seamless proof submission
Staking/withdrawal capabilities for ECPs to boost ZK task success rates
Optimized space task validation for faster feedback and improved Orchestrator efficiency

🌐ZK Engine:

Added CP location tracking and historical resource/quantity info logging
Introduced task staking mechanism and redesigned zk-task dispatch for higher success rates (new version upcoming)
Scanner integrated with CP registration contracts for retrieving the latest CP information from on-chain.
Revamped zk-challenger mechanism for enhanced data accuracy with the new staking system

About Swan Chain:

Swan Chain, established in 2021, DePIN built for AI. Leveraging OP Stack’s Ethereum Layer 2 technology, it pioneers the fusion of Web3 with AI, offering comprehensive solutions spanning storage, computing, bandwidth, and payments. By harnessing underutilized computing power from a network of community data centers, Swan Chain drives down computing costs by up to 70% while enabling monetization of dormant assets. Innovative decentralized marketplaces for storage, AI, and Zero-Knowledge proofs, coupled with LagrangeDAO’s efficiency in AI model deployment, make Swan Chain’s AI acceleration seamless and affordable.

Traction:

10M user addresses and 1M daily transactions on the Saturn Testnet as of Q1 2024.
A vibrant community exceeding 100K Discord members.
Network expansion to 1500+ computing providers across 31 global cities.
Over 50K deployments of AI model containers.

Investors:

Binance Labs, Protocol Labs, Waterdrip Capital, Chainlink Labs, Outlier Ventures, SNZ Holdings and more.

Partners:

Nvidia, Google Web3 Startup Program, Microsoft Startup Program, Chainlink BUILD, Filecoin Orbit.

Website: https://www.swanchain.io
Twitter: https://twitter.com/swan_chain
Telegram: https://t.me/swan_chain/
Discord: https://discord.gg/swanchain
LinkedIn: https://www.linkedin.com/company/swancloud