词元所 / Token Exchange

词元所 / Token Exchange is the model-trading platform Baidu founder Robin Li formally announced at the opening of Baidu World 2026 on 12 November 2026. The official product page calls it a matching marketplace between model suppliers and customers, under the English name Token Exchange: cloud.baidu.cn/product-s/token_exchange.html. IT Home’s on-site report (2026-11-12 10:52:44) said Li compared it to a stock exchange: gather sound models and providers so companies and individuals can more easily find, buy and use trustworthy models.

According to that on-site account, Token Exchange runs admission tests covering fingerprint comparison, capability tests, performance metrics and availability, and keeps monitoring quality parameters, with the stated aim of blocking swapped models or inflated specs. It also scores providers on service quality, delivery, security compliance and commercial performance, issues credit labels, alerts users if a provider’s credit falls, and is said to keep a publicly inspectable credit file.

Yicai (2026-11-12 11:09:12, citing Securities Times) reported Li as saying the venue should let enterprises and individuals conveniently find, purchase and use trustworthy model tokens; after one month online, it had more than 100 supply resources, daily calls above 50 million, and daily tokens above 700 billion. IT Home’s on-site report gave “more than 100 supply resources” and “daily tokens above 700 billion.” The official product page at the same time showed “200B+ daily token calls,” “60 million+ daily calls,” and “70+ model resources.” These figures do not fully match; attribute the source and re-check the latest text.

Coverage also states the platform had already been online for about a month before the keynote. This entry records the 12 November official launch, not a claim that the name first appeared that morning. A related intake form is at cloud.baidu.com/survey/cysuo.html.

Key points:

• Official product page: https://cloud.baidu.cn/product-s/token_exchange.html ; intake form: https://cloud.baidu.com/survey/cysuo.html ;
• On-site report: https://www.ithome.com/1/025/903.htm ; Yicai / Securities Times: https://www.yicai.com/news/103437722.html ;
• This is a specific Baidu product name (词元所 / Token Exchange). Do not treat it as Qianfan itself, or conflate it with unverified third-party token relays.

Why it matters

This is a named product formally announced by Baidu’s founder at Baidu World on 12 November 2026, with an official cloud product page, aimed at the “too many models, uneven suppliers” problem. For this radar it is a concrete platform name worth its own entry. Reports also say it had already been online for about a month; this page treats the keynote as the official public naming, not as the silent soft-launch date.

This page only restates the product page and news reports. Scale and traffic figures differ across sources and are not independently verified here.

Limits

The marketplace was already running before the event, and product-page totals may not match keynote figures. This page did not audit the supplier list or credit files. Do not describe Token Exchange as a replacement for first-party model APIs, or treat “neutral and trustworthy” as a third-party audit.

1. Read the official product page at https://cloud.baidu.cn/product-s/token_exchange.html , and compare the intake form https://cloud.baidu.com/survey/cysuo.html , IT Home’s on-site report https://www.ithome.com/1/025/903.htm , and Yicai https://www.yicai.com/news/103437722.html ;
2. For integration or supplier onboarding, follow the latest Baidu AI Cloud console and product documentation; this page is not a substitute;
3. When quoting “one month online,” resource counts, daily calls or daily tokens, name the source (product page vs. which report) and re-check upstream, because the published numbers are not identical;
4. Do not describe 词元所 / Token Exchange as Qianfan itself, or conflate it with unverified third-party relays; this page only restates public materials.