Recently, Solana Ecosystem DePIN Protocol io.net announced the economic model of its token IO. io.net will have an initial supply of 500 million IO at the time of creation, divided into five categories: seed investors, A-round investors, core contributors, R&D and ecosystem, and community. Since the project is in the hot track of AI and DePIN, and has previously received $30 million in A-round financing, it has attracted a lot of attention from users.
Token model and mechanism
io.net has released a token model, and the exciting plans include:
Total amount: 800 million fixed total amount, 500 million initial supply.
Circulation: The actual circulation should be around 200 million.
Destruction mechanism: The income generated by the network is used to purchase and destroy $IO, and the burning amount is adjusted according to the price of $IO.
Staking mechanism: Each node needs to stake at least 100 IO. Currently, there are 800,000 nodes, locking 80 million IO, and the actual circulation will be less.
DePIN: The bridge between blockchain and the physical world
DePIN is considered one of the most important areas of crypto investment in the next decade, and io.net is one of the best. The project spans the concepts of AI, DePIN and Solana, and almost hits all the hot spots. In March, it completed a $30 million Series A financing, and investors include Hack VC, Multicoin, etc.
Solving the bottleneck of AI computing power: With the rapid development of AI, the demand for computing power doubles every few months, but the supply of computing power resources is stretched, and the cost of training large-scale AI models continues to soar. io.net realizes the sharing economy of GPU through a decentralized approach, and the supply and demand matching is timely, affordable, and license-free.
io.net architecture
The architecture of io.net includes:
IO network: a decentralized GPU network with a mesh VPN architecture.
IO engine: a programmable computing layer built on the IO network.
IOG and IO Element: together form a complete AI computing power solution ecosystem.
Advantages and potential: io.net is positioned not only to compete with other Web3 AI projects, but also to replace traditional cloud platforms. Its advantages include:
Low cost: It can achieve 90% cheaper service costs and complete deployment in seconds.
Large-scale scheduling: It supports 500,000 GPU clusters, which is more than AWS or GCP can centrally schedule.
Future potential: It will host artificial intelligence models in the future, similar to Bittensor now.
Currently, io.net aggregates GPUs from RNDR, FIL and its own network. The number of GPUs running on its own network alone exceeds 400,000, and the number of CPUs exceeds 43,000, of which more than half of the GPUs are active.
Team and financing background
io.net's team includes founder and CEO Ahmad Shadid, COO Tory Green and CSO&CMO Garrison Y. Team members have extensive experience in data science, venture capital and blockchain. On March 5 this year, io.net received $30 million in Series A financing, with a valuation of $1 billion. Investors include Hack VC, Multicoin Capital, Solana Ventures, and OKX Ventures.
Summary: io.net can effectively solve the computing bottleneck in the context of the rapid development of AI, and provide cheaper, more efficient, and customized services to the artificial intelligence market than traditional cloud computing companies. It raised $30 million from major well-known investment institutions with a valuation of $1 billion. Its strong technical advantages and financing background mean that it will become a new star that DePIN cannot ignore.
Let us look forward to io.net's products facing the world and reconstructing a new paradigm for GPU resource utilization!