io.net announces token economic model, learn about this hot AI+Depin project in one article

Original author: Rocky, crypto KOL

Editor's note: Yesterday, Solana Ecosystem DePIN Protocol io.net announced the token economic model of its token IO. At the time of creation, io.net will have an initial supply of 500 million IOs, divided into five categories: seed investors, A-round investors, core contributors, RD and ecosystem, and community. Since the project is in the hot track of AI + Depin this year, and it has previously received $30 million in A-round financing, the investment lineup is luxurious, so it has always attracted the attention of users. Crypto KOL Rocky gave a detailed introduction to the project on X, and BlockBeats reprinted the full text as follows:

The AI ace project @ionet released the token model yesterday:

Exciting plan:800 million fixed total, 500 million initial supply, but the actual circulation should be around 200 million. As shown in the figure, the expected valuation: benchmark #RNDR

Use a destruction deflation mechanism:The income generated by the network is used to purchase and destroy $IO. The number of burns is adjusted according to the price of $IO.

Staking mechanism:In order to ensure the stability of the network, each node needs to stake at least 100 IOs. Currently, there are 800,000 nodes. Here, 80 million IOs will be locked conservatively, and the actual circulation will be less!

Depin is a bridge between blockchain and the physical world. It can be said to be one of the most important areas of crypto investment now and in the next decade. @ionet is undoubtedly one of the best. The project spans the concepts of AI + Depin + Solana, and almost hits all the hot spots! In March, it completed a $30 million Series A financing, with investment institutions including Hack VC, Multicoin, etc., which is quite luxurious! Next, let's take a detailed interpretation.

At present, more and more companies and consumers are embracing AI, but the bottleneck of computing power is becoming increasingly difficult to ignore. The computing power required for AI systems doubles every few months, while the supply of computing power resources is stretched. In addition, the cost of training large-scale AI models continues to soar, increasing by about 3100% per year in the past decade! Stability.AI costs more than $50 million a month to run GPUs on AWS alone!

The high cost of computing power has created a huge obstacle to the development of AI. There is an urgent need for an affordable, on-demand computing power platform, which can only be achieved with the help of blockchain technology. io.net is such a project. It uses a decentralized approach to realize the sharing economy of GPUs. Suppliers use it to provide idle computing power, and demanders use it to meet machine learning needs. The matching of supply and demand is timely, affordable, and permissionless!

io.net's architecture includes the underlying IO network, IO engine, IOG, and IO Element. The IO network is a decentralized GPU network that uses a mesh VPN architecture to provide ultra-low latency communication between nodes, ensuring high efficiency of GPU resource sharing and processing. The IO engine is a programmable computing layer built on the IO network. Together, these elements form a complete ecosystem dedicated to providing AI computing power solutions.

io.net is positioned not only to compete with other Web3 AI projects, but also to replace traditional cloud platforms. It includes the following advantages:

-Low cost and high efficiency: It can achieve 90% cheaper service costs and complete deployment within seconds.
-Support large-scale scheduling: It can support 500,000 GPU clusters, which is more than the number that AWS or GCP can centrally schedule.
-Huge potential in the future: 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. Currently, the IO network has more than 300,000 GPU providers, which has doubled five times in less than a month! Its network nodes are distributed in more than 70 countries and are highly decentralized.

Let's talk about the IO team:

Founder and CEO Ahmad Shadid has extensive experience in data science. COO Tory Green has more than 20 years of experience in venture capital and as a senior executive. CSOCMO Garrison Y. Before joining IO, he served as the head of Growth Strategy at Ava Labs, the leading developer of the Avalanche blockchain. Angela Yi in the team graduated from Harvard.

Let’s talk about IO’s financing background:

It received $30 million in Series A financing on March 5 this year, with a valuation of $1 billion! The leading institution is Hack VC, and participating investors include Multicoin Capital, Solana Ventures and OKX Ventures, etc., which is a very luxurious lineup!

Among institutional investors:
-Hack VC: has more than 100 investment records, and has invested in many successful projects such as Consensys, Sui and Helium

-OKX Ventures: is an investment institution under OKX
-Multicoin Capital: the most successful crypto investment institution, its crypto hedge fund has a return rate of 9281% since its launch in 2017
-Solana Ventures: Solana's investment platform

Among individual investors:
-Anatoly Yakovenko: Solana co-founder and CEO
-Sebastien Borget: Sandbox co-founder and COO
-Yat Siu: Animoca co-founder and executive chairman

Currently @ionet announced plans to launch IO within two or three weeks after the Bitcoin halving Tokens, there are currently two main ways to obtain airdrop qualifications:

-Galxe activities: The tasks mainly include following and forwarding Twitter, joining the community, etc. Among them, the time-consuming Discord tasks require obtaining different Tier roles in the official Discord group. You can increase your activity by participating in the AMA every Wednesday, speaking, and posting meme pictures.

Portal: https://app.galxe.com/quest/io.net/GCD5ot4oXP

-Testnet mining: Deploy the machine according to the pictures and video tutorials on the official website. You need to download docker first, and then install the node. It should be noted that in order to avoid the machine being offline as much as possible, it is recommended to use a vpn global proxy and first find a ladder that can run stably. The number of airdrops depends on many factors such as device model, quantity, network speed, duration, stability, etc.

Official deployment tutorial: https://developers.io.net/docs/installing-on-windows

Summary:

@ionet 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. Strong technical advantages and financing background mean that it will become a rising star that cannot be ignored by #Depin. Let us look forward to its products being launched globally and reconstructing a new paradigm for GPU resource utilization!

Original link

欢迎加入律动 BlockBeats 官方社群：

Telegram 订阅群： https://t.me/theblockbeats

Telegram 交流群： https://t.me/BlockBeats_App

Twitter 官方账号： https://twitter.com/BlockBeatsAsia