What is io.net? Information about IO Token

What is io.net? What makes this project special? Is the IO Token worth investing in? Let’s explore with AZC.News!

What Is Ionet Azc

Utilizing the idle GPU network in computing, io.net allows developers to earn additional income. So, what is io.net? What makes this project special? Is the IO Token worth investing in? Let’s explore with AZC.News!

What is io.net?

io.net is a DePIN (Decentralized Physical Infrastructure Network) project developed on the Solana platform, focusing on providing computational power from GPUs. This project aggregates GPU resources for artificial intelligence (AI) and machine learning (ML) companies, offering lower costs and optimal execution times.

What is io.net?
What is io.net?

Specifically, io.net is a new cloud system aimed at helping machine learning engineers easily access a decentralized cloud model at more reasonable costs compared to centralized services like Google, AWS, or Azure. This is achieved through decentralized computing network technology, alleviating financial burdens for developers and the data science community.

Related: What is DePIN? Top 5 Notable DePIN Projects in 2024

What are the standout products of io.net?

IO Cloud

Io Cloud

IO Cloud is a cloud storage service that allows users to efficiently deploy and manage GPU systems through flexible cluster options.

Cluster: A system of multiple interconnected servers that share resources such as memory and processors to enhance performance for tasks requiring substantial resources.

IO Cloud provides various cluster types such as mega clusters, Kubernetes, with different GPU configurations, usage purposes, suppliers, and deployment locations, suitable for diverse computational needs.

IO Worker

Io Worker

IO Worker is a platform that allows entities with surplus GPU or CPU resources to rent them out and earn passive income. On IO Worker, the lessors can set their desired prices to ensure profitability instead of being fixed to the platform rates.

IO Explorer

Io Explorer

IO Explorer is an exploration tool, similar to Solana’s Solscan, aggregating data from the io.net, Render Network, and Filecoin protocols. IO Explorer enables users to track real-time metrics like the number of GPUs used and rental prices.

What are the features of io.net?

  • Batch Inference and Model Serving: Batch data computations can be performed in parallel, allowing machine learning models to build computation processes and provide model services via io.net.
  • Parallel Training: Utilizing decentralized computing libraries to coordinate and train data in parallel across multiple devices.
  • Parallel Hyperparameter Tuning: Using decentralized algorithm libraries to fine-tune parameters, optimize scheduling, and designate search patterns effectively.
  • Reinforcement Learning: Using open-source reinforcement learning libraries to support process management.

What makes io.net stand out?

Io Token

The demand for GPU usage in ML models is increasing amidst the AI boom. However, current GPU solutions face limitations such as high costs, limited options, and restricted access. io.net addresses these issues with the following highlights:

  • Decentralized Cloud System: Harnesses idle GPUs from various sources like data centers, mining devices, and crypto projects to create a decentralized marketplace for computational power. This expands GPU resource access for AI and ML companies, enhancing security and transparency.
  • Cost Savings: Helps AI and ML companies save up to 90% in computational costs compared to traditional centralized cloud services like Google Cloud, AWS, or Azure, creating a more equitable and accessible platform.
  • High Performance: Uses parallel execution models to optimize performance and scalability for machine learning models, accelerating processing speeds and expanding project scope.
  • Transparency: Uses Solana blockchain to ensure transaction and data access transparency, allowing users to easily monitor and control their resource usage.
  • Ease of Use: Provides a simple and user-friendly interface for both beginners and experienced users, with advanced security technologies to protect user data.

Team

Team

io.net was founded in 2022 by Ahmad Shadid and is headquartered in the United States, with a key team comprising:

  • Ahmad Shadid (Founder & CEO): Co-founder and CEO of io.net, previously a quantitative systems engineer at ArabFolio Capital and WhalesTrader, with over 185,000 followers on Twitter.
  • Garrison Yang (CSO & CMO): Chief Strategy and Marketing Officer at io.net, previously VP of Strategic Development at Ava Labs (Avalanche) and Product Development at Meta (Facebook).
  • Tory Green (COO): Chief Operating Officer at io.net, previously COO at Hum Capital and Tiller Partners.

Investors

Investor

io.net raised $30 million in a Series A round on March 5, 2024, led by HackVC, with participation from top-tier funds like Delphi Digital, Multicoin Capital, Solana Ventures, OKX Ventures, Animoca Brands, and others.

Related: io.net Successfully Raises $30M in Series A Funding Round

What is the io.net Token?

Basic Information about IO Token

  • Token Name: io.net
  • Ticker: IO
  • Blockchain: Solana
  • Contract: BZLbGTNCSFfoth2GYDtwr7e4imWzpR5jqcUuGEwr646K
  • Total Supply: 800,000,000 IO
  • Circulating Supply: Updating

IO Token Uses

  • Payment method for platform activities.
  • Participation in governance for protocol changes.
  • Staking to receive project rewards.

IO Token Allocation

Allocation1

  • Community: 10%
  • R&D Ecosystem: 16,01%
  • Early backers (seed): 12,5%
  • Initial core contributors: 11,34%
  • Early backers (series A): 10,15%
  • Binance Launchpool: 2,5%
  • Emissions: 37,50%

TAIKO Token Release Schedule

Release Schedule

TAIKO Token Trading

On June 6, 2024, Binance announced the listing of IO Token on June 11, 2024, as a Launchpool.

Related: Binance Announces IO.NET (IO), the 55th Project on Binance Launchpool

Roadmap

After listing, io.net will focus on improving the system with the goal of becoming the world’s largest computational power provider.

Similar Projects

io.net is a DePIN project similar to Filecoin and IoTeX.

Project Information Channels

Conclusion

io.net is a DePIN platform utilizing idle GPU networks to reduce costs and increase efficiency for AI and ML companies. This project breaks down entry barriers to the computing field, offering access to vast computational power at low costs.

Here is all the information about io.net. If you still have questions about what io.net is or the IO Token, please leave your queries in the comments section for immediate clarification!

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