Venice Token

Summary

Venice Token (VVV) is the governance token for Venice AI, a privacy-focused AI platform founded by Erik Voorhees (ShapeShift founder). Launched January 2025 on Base (Ethereum L2). Insiders dumped $10.2M worth of VVV immediately post-launch from 16 wallets funded by a team multi-sig holding 23% of supply, crashing the price 63% from $19.38 to $2.44 within days. Aerodrome Finance suspended two contributors for insider trading during the launch. Tokenomics backlash grew over the dual-token model (VVV + DIEM). Governance is fully centralized with no token-holder voting. Privacy model is not trustless — Venice runs its own GPUs.