Introducing CUDOS, the billion dollar distributed compute network
We began working with Cudo back in 2019 impressed by their team, traction and fit with our belief in a new distributed internet stack of critical infrastructure. Over that time we help them design, develop and now successfully launch a token optimised instance of their network through a dedicated token launch program we call Ascent, which complements our earlier stage Basecamp Web 3 accelerator. We are proud to say, whilst still early days, the network not only closed a massively oversubscribed private sale of $3 million with the likes of investors such Moonrock Capital, Moonwhale Capital, Brilliance Ventures, Doublepeak, DuckDAO, GBC Capital, Spincrypto, BMW Capital and many more, but the token went on to an all-time-high of 1,500% in its first 48 hours showing huge demand for the token and acknowledgment of the projects potential. Now (at the time of writing) almost a week on from the first listing the token has maintained its initial non-diluted market cap of over $1bn putting it instantly in the Top 50 of crypto assets.
The Cudo smart network, and the CUDOS token as a powerful game theoretical coordination mechanism, enable a new distributed cloud model which allows hardware owners to offset the cost of hardware (and even make it profitable) by renting out their compute power to the network for any variety of tasks via a matching algorithm. Not only has it been shown to deliver up to 10 x savings on cloud services it’s simply more sustainable for the environment through improved underutilisation of the world’s existing hardware. And when combined with other complimentary distributed cloud protocols like Filecoin, which brings storage to Cudo’s compute, they transform rather than disrupt cloud infrastructure and services as a kind of Cloud 2.0.
Founded in 2017 by serial tech entrepreneur Matt Hawkins, who had previously founded and then sold C4L, one of the UK’s fastest growing & largest Data Centre & Cloud Service Providers the team include an unparalleled team of entrepreneurs, engineers, data scientists, and executives including the Ex-President of Sony Playstation, Chris Deering, and the Director of Blockchain at AMD, Jörg Roskowetz united in the mission to ‘make better use of the world’s computing power.’
500,000 TFLOPs of compute & growing
This is not just a concept the Cudo Network is already live with 100k+ users, across 145 countries, with 30k+ live active nodes globally now handling over 500,000 TFLOPs of compute through partnerships with AMD, the world’s largest chip manufacturer (with over 50% of Desktop CPU market share), and Ultra combining 2m gaming PCs as well as a partnership with Playstation connecting over consoles.
And the possible use cases that can leverage this growing compute power are near limitless both in an emerging Web 3 context for example compute oracles for multichain Layer 2 services for blockchains like Ethereum and Algorand and DeFi but also established multi-billion dollar industries such as scientific simulations & research, data analytics, artificial intelligence, video rendering and edge compute for gaming and VR.
By earning or buying the CUDOS token network individuals or organisations can directly participate in its governance, vote on proposals on changes or upgrades to the network, its economics or grant applications or they can be simply redeemed via AMD Partner vouchers including within the xBox and Playstation Networks.
“Our goal is to become the go to Compute Marketplace, the first true 2-way marketplace powering supply and demand, democratizing computing power on a global scale CUDOS 1.0, Cloud 2.0, Web 3.0, innovation and delivery is in our blood!” Matt Hawkins
Cudo offers a wide range of compute solutions allowing organisation’s to develop, deploy, run, and scale applications and workloads in the world’s first sharing economy computing platform. Cudo’s distributed computing model empowers anyone or business in the world with spare computing power to monetise their hardware, contributing to less IT wastage and a more sustainable computing model. With blockchain a key vertical for their innovative infrastructure platform, Cudo has added CUDOS, a decentralised layer to their ecosystem. The vision is simple, to make better use of the World’s computing power.
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About Base Camp
Outlier Ventures is a dedicated Web 3 fund and accelerator founded in 2014 that works with startups at various stages of their lifecycle from pre-seed / seed (via Basecamp) to later stage about to launch (or live) token networks specializing in a New Data Economy, NFTs, and DeFi bringing together a network of 1,000 of the world’s leading web 3 founders, protocols, VCs to mentor, and invest.