Network effects arise from multi-party participation: the more data providers there are, the more robust the model training; the more diverse the models, the easier it is for application developers to find suitable tools; the greater the usage, the income of computing nodes increases accordingly, thus attracting more computing power to join. To get this flywheel started, OpenLedger proposed a unique hyperbolic incentive function: when the revenue from a single piece of data or a single model is not enough to cover the validation costs, the protocol will exponentially subsidize the gap from the reserve fund; once the revenue exceeds the cost threshold, the subsidy coefficient rapidly decays to avoid sustained inflation. Meanwhile, the supply curve of the token OPEN is not linear, but bound to the "effective usage amount"; if the usage amount for the month does not reach the preset growth rate, the reserve will automatically be halved for release, and the newly issued OPEN for the next month will decrease synchronously; conversely, if the usage exceeds the target, the excess net income will be used for secondary market repurchase and destruction, forming elastic deflation. This move aims to synchronize the token value strongly with the real usage of the network, reducing the damage caused by "pump-dump" on ecological stability. In terms of governance, OpenLedger adopts a tripartite separation of powers: the technical council holds the right to propose protocol upgrades, the economic council is responsible for rate and subsidy curve adjustments, and the community council has the veto power over the first two councils. The voting rights of the three council members are calculated based on a weighted method of "holding amount × contribution points", and a 14-day cooling-off period is set to prevent lightning proposals. For key parameters—such as PoV score threshold, storage rental rate, minimum balance of risk capital—any modification requires a ⅔ supermajority across councils and locks a 30-day observation window to maximize the predictability of the system. In terms of external cooperation, OpenLedger has reached a preliminary consensus with the decentralized GPU network Render, the federated learning platform Flower, and the legal tech company Kleros to jointly develop "verifiable federated fine-tuning" and "on-chain arbitration" modules, which, once launched, will further solidify its position as a public facility for data financialization. Overall, OpenLedger attempts to make OPEN a truly native asset linked to data productivity through a combination of "flexible monetary policy + multi-party governance + scenario-driven" approaches. If it can complete the infrastructure loop before the next round of crypto-AI narrative explosion, the value capture space of OPEN may not only be limited to the crypto market but could extend to a broader digital economy landscape.@OpenLedger #OpenLedger $OPEN
