According to CoinMeta, the Ritual Foundation announced the official launch of the decentralized AI computing platform Ritual mainnet. The native token RITUAL was also launched simultaneously and can be used for payments for gas, model calls, HTTP requests, and scheduled executions, among other fees. The initial supply of the token is 10 billion coins, with no upper limit to supply, and an annual inflation rate of about 5%. Additionally, a EIP-1559 mechanism is adopted to burn transaction fees. At launch, 1.8 billion coins were unlocked, which accounts for 18% of the initial supply. In terms of token distribution, core contributors receive 29%, ecosystem growth and research and development account for 25%, network participation and future incentives make up 14%, Labs investors get 11.3%, the Ritual foundation receives 10%, and the remainder is allocated to the Labs treasury, frontier AI funding programs, and the foundation's private placements. Core contributors and investors' tokens are locked for one year, with all tokens to be fully unlocked within four years. Furthermore, Ritual will airdrop 50 million RITUAL coins to eligible Infernet node operators, Frenrug users, and long-term community members, which accounts for 0.5% of the initial supply; these airdropped tokens will be fully unlocked upon launch. It was also announced that Coinbase spot trading will begin today on RITUAL.