RSS3 is a protocol aimed at establishing an Open Information Layer to enhance information exchange on the Open Web. It is a decentralized infrastructure designed to support various applications, including AI training, social media, and search engines, by trying to enable efficient information dissemination.^[1][2]

Overview

Since the second half of 2020, RSS3, a decentralized feed protocol inspired by the original RSS, has aimed to enhance the Open Web by facilitating open information exchange. The rise of web3 content has led to the development of web3 identity centered around users' owned assets. RSS3 seeks to meet the demand for unified presentations of users' identities and assets across different platforms by allowing users to independently control and display their assets in the web3 landscape. The RSS3 token governs the network, impacting elements like the global indexer and serving node elections. Network nodes index various Open Web protocols to provide universal access to valuable information. RSS3 supports open social protocols and enables decentralized applications, search engines, and activity feeds.^[3][4][12]

Social

RSS3 aims to enhance interoperability among open social platforms, functioning as an open social indexer supporting various social protocols. Decentralized data systems, in contrast to centralized ones, distribute data across autonomous nodes and platforms, offering increased security and transparency while presenting challenges in data utilization. The RSS3 Network also referred to as the Open Information Layer, provides extensive open information and streamlining data processing.^[5][6]

Search

RSS3 aims to enhance Open Web search functions, making it easier to develop search engines, cross-blockchain explorers, and activity feeds. It processes decentralized network data to facilitate the creation of these tools. The system is designed for ease of use, allowing access to on-chain and off-chain data through a single API call. Its structured data enables detailed analytics, while real-time retrieval ensures access to the latest information. RSS3 is designed to improve data interpretation on the Open Web, enabling dApps and users to access diverse activities, including on-chain and off-chain interactions, through a single query.^[6][7]

AI

RSS3 integrates AI through its Mixture of Experts (MoE) architecture, which is designed to improve the reliability and execution of AI models by selecting specialized expert models for specific tasks. The platform offers on-chain AI solutions for tasks like content generation, enterprise workflow optimization, automated smart contract execution, real-time market analysis, and risk management. It also provides an AI-ready API for the fine-tuning of AI models and other related functions.^[6][8][9]

Tokenomics

RSS3 Token

On February 12, 2022, RSS3 introduced its native utility token, RSS3, on Cooper Launch, with a total supply of 1 billion tokens to be gradually released over 5 years. These tokens primarily serve as a governance mechanism for the DAO. The RSS3 token also plays a key role in overseeing various aspects of the network, including global indexer and serving node elections, as well as regulating the maximum number of RSS3 files per serving node, among other functions. It also serves as a reward system for contributors to the network's development.^[4][11]

Allocation

As of January 17th, 2024, the allocation of RSS3 token is as follows:

• Development Purposes: 45% (21.6% for development, 23.4% unspecified)
• Team: 15% (4.87% currently distributed, 10.1% unspecified)
• Private Sale: 10% (6.32% currently distributed, 3.68% unspecified)
• Early Incentives: 10% (entire allocation unutilized)
• Public Sale: 5% (5% currently distributed)
• Natural Selection Labs: 5% (2.4% currently distributed, 2.6% unspecified)
• Seed Round: 4.6% (2.21% currently distributed, 2.39% unspecified)
• Airdrop: 2.4% (2.4% currently distributed)
• Liquidity: 2% (2% currently distributed)
• Advisors: 1% (1% currently distributed)

The last unlock event was scheduled for November 14, 2023, releasing 2.25% of the total supply (22.53 million RSS3 tokens), representing 4.21% of the market cap. On February 14, 2024, the next unlocking event is scheduled to occur, unveiling five rounds and releasing 22.53 million RSS3 tokens (constituting 2.25% of the total supply) along with $2.45 million (equivalent to 3.75% of the market cap) within 27 days.^[10]

Funding

In January 2022, RSS3 was backed by Fabric Ventures as part of their $6 million seed funding round led by Coinshares Ventures with participation from Coinbase Ventures, Dragonfly Capital, Mask Network, HashKey Group, Arweave, Dapper Labs, Avalanche Asia Star Fund, Youbi Capital, Headline VC, Formless Capital, imToken Ventures, and private investors, including Balaji Srinivasan, Jeff “Jiho” Zirlin, Miss ₿itcoin and Scott Moore.^[12]