Baidu launches 'token exchange' to standardize and vet large language models

Baidu founder Yi Yanghong unveiled a new large model service platform called 'Token Exchange' during the Baidu World Conference 2026 on November 12, 2026. The platform is designed to address the complexity developers face when selecting models, which often vary widely in cost and quality. Described as a neutral and trustworthy trading platform analogous to a stock exchange, Token Exchange aims to centralize high-quality models and providers, allowing users to easily find reliable resources. The system implements rigorous entry testing covering model integrity, fingerprint matching, capability assessments, and performance metrics, while continuously monitoring quality parameters to prevent model swapping or parameter misrepresentation. Furthermore, the platform assigns credit ratings and scores to model providers based on service quality, fulfillment, security compliance, and commercial performance. These data points form a publicly accessible credit file. Since its launch one month ago, Token Exchange has amassed over 100 supplied resources and recorded a daily average of over 700 billion token calls.