DIEM

DIEM is Venice's inference-bearing token. It is not issued by Kairence — Kairence integrates with it.

• Contract: 0xF4d97F2da56e8c3098f3a8D538DB630A2606a024 on Base
• Symbol: DIEM, 18 decimals
• Issuer: Venice

What DIEM does

Each staked DIEM token entitles its holder to $1 of AI inference per day, settled via Venice's X402 payments API. Unused entitlement does not accumulate: at 00:00 UTC each day, the daily quota resets and any unspent dollar-amount of inference is permanently forfeited.

Unstaking is subject to a 1-day cooldown before the principal can be withdrawn.

Staking semantics (important details)

Staking lives on the DIEM token itself — there is no separate staking contract. Three functions matter:

• stake(amount) — moves amount from the caller's free balance into their staked balance. No approve required (internal transfer).
• initiateUnstake(amount) — reduces amountStaked by amount, adds it to coolDownAmount, and resets coolDownEnd = block.timestamp + 1 day. Each call refreshes the cooldown — multiple unstakes in the same cooldown window aggregate and end together.
• unstake() — drains the entire coolDownAmount back to the caller's free balance, only after coolDownEnd has elapsed.

The cooldown-refresh behaviour is why Kairence batches all user unstakes into one daily aggregate. See Unstake queue & claim.

How Kairence uses DIEM

When you lock DIEM:

1. Your DIEM is transferred into the protocol's VeniceStakingVault.
2. The vault calls DIEM.stake(amount) so Venice credits the vault's stake toward the protocol's daily inference allowance.
3. You receive DD — your share of inference for the lock period, minted upfront — plus a principal token (PT20 or PT721) that you can sell or redeem 1:1 for DIEM at maturity.

When you redeem your principal token at maturity, the protocol queues the unstake, drains the cooldown, and transfers your DIEM back.

You always get exactly 1 DIEM back per 1 PT20

The exchange rate is fixed 1:1 and immutable. The protocol never accrues fees or yield against principal — your principal is exactly what you deposited, no more and no less.

The "yield" of staked DIEM (the inference access) is captured separately as DD, which is minted upfront at lock time.