During the week, while researching newly listed crypto projects, I stumbled on Diem, built on the groundbreaking idea of tokenised intelligence. Officially launched on August 20, the token is built on the Base blockchain as an ERC20 token.

It transforms AI compute from a rented service into an ownable, tradeable asset. Backed by Venice, a privacy-first AI platform founded by Bitcoin pioneer Erik Voorhees, Diem is poised to reshape how developers, applications, and decentralised finance (DeFi) protocols interact with AI infrastructure.

Diem’s debut was a pivotal moment for Venice, a platform launched in May 2024 to provide uncensored, privacy-focused AI inference. With over 1 million daily API requests, Venice has quickly gained traction among developers using tools like Cursor and VSCode. 

The crypto builds on this momentum, offering a novel way to own and monetise AI compute power. Each Diem token represents $1 per day of Venice API capacity, a value that never expires or fluctuates.

This perpetual access model is a game-changer, enabling developers to secure predictable AI compute without variable costs.

The launch was strategically executed to prevent front-running. Venice announced a temporary punitive mint rate to deter early snipers, ensuring a fair rollout of the new currency. At launch, Venice seeded a liquidity pool on Aerodrome, a decentralised exchange in Base, with an initial Diem price of about $50.

Market discovery quickly took over, and the token’s value began to reflect its unique utility.

Diem’s market performance and price

Since its launch, Diem’s price has been a rollercoaster, reflecting the volatility typical of new crypto assets. On August 20, 2025, CoinGecko reported a trading volume of $266,818.59, with a 24-hour price decline of 7.4%.

By August 21, MEXC recorded a price of $234.77, up from $225.38 the previous day, signalling rapid market interest. 

The VVV/DIEM trading pair on Aerodrome has been particularly active, with a 24-hour volume of $249,200 and a price above $186 per token on Friday. The circulating supply remains low at 34,000 tokens, contributing to a market capitalisation of approximately BTC 55.8137.

Despite a 40.7% drop in trading volume from the previous day, the token’s price has shown resilience, outperforming similar AI-focused cryptocurrencies, which are down 4.9% over the past week. This suggests growing confidence in Diem’s long-term potential. 

Diem’s core innovation lies in its utility. Unlike traditional AI services, where computers are leased, Diem allows users to own a slice of Venice’s AI infrastructure. 

Each token grants $1 per day of API credit, providing developers with guaranteed access to private, uncensored AI inference. This is a boon for applications requiring fixed AI costs and predictable capacity, eliminating the uncertainty of variable API bills.

For VVV holders, the token unlocks new economic models. By locking staked VVV (sVVV), users can mint the token, monetising unused compute power. 

These tokens can be traded on decentralised exchanges like Aerodrome or Uniswap V4 or staked for API access. Stakers continue to earn 80% of VVV’s staking yield while their tokens are locked, creating a dual-income stream. Developers can integrate Diem into their tokenomics, while DeFi protocols and DAOs can collateralise compute resources, opening doors to innovative financial models.

This tokenised approach makes AI compute programmable and composable, akin to a building block for on-chain economies. It empowers agents to own their intelligence, fostering a decentralised ecosystem where computers are as liquid as any other asset.

How to earn and mint

Earning Diem is exclusive to VVV holders, reinforcing VVV’s role as the backbone of Venice’s AI economy.

The minting process is straightforward but requires strategic timing due to the dynamic Mint Rate algorithm, which starts low and increases exponentially as your supply nears its target. 

Here’s how it works:

1. Stake VVV tokens: Access the Venice token dashboard and stake VVV tokens. Note the seven-day unstaking period.

2. Mint Diem: Navigate to the crypto minting interface, lock sVVV, and confirm the transaction. Minted Diem tokens are delivered as ERC20 tokens on Base.

3. Stake or trade: Stake the token for $1/day API credit (minimum 0.1 Diem) or trade them on exchanges like Aerodrome. To unlock sVVV, burn the equivalent Diem tokens.

The mint rate ensures sustainable growth, but early minting is advised for the best rates. Venice warns that selling Diem carries risks; if the price rises, rebuying to unlock VVV could be costlier. However, holding and staking Diem for API access avoids this risk while providing steady utility.

Meanwhile, like all cryptocurrencies, the token is subject to high market risks and price volatility. Investors must weigh their financial situation and risk tolerance, as past performance doesn’t guarantee future results. 

Its launch marks a significant step toward integrating AI and blockchain. By tokenising intelligence, it creates a new asset class that bridges developers, VVV holders, and DeFi ecosystems. 

The token’s ability to provide perpetual, predictable AI compute access positions it as a pioneer in on-chain AI economies. As Venice continues to scale, with plans to add liquidity in tranches, Diem’s role in decentralised AI could redefine how we interact with intelligent systems.