Binance announced IOLAUNCHPOOL. Let's learn first more about the project.
Welcome to io.net, the world’s largest decentralized computing network. Provide machine learning engineers with scalable distributed clusters at a fraction of the cost of centralized services. Discover how io.net is revolutionizing the industry with better, faster, and cheaper cloud solutions.
Why Choose io.net Cloud?
Better: Enjoy unparalleled flexibility by choosing from the world’s best GPUs and customizing computing power to meet your needs.
Faster: Access the io.net network in seconds, unlike centralized clouds that can take weeks to deploy.
Cheaper: Experience up to 90% cost savings compared to traditional cloud services.
"Mission"
The aim is to assemble one million GPUs into a Decentralized Physical Infrastructure Network (DePIN), transforming the landscape of computational power.
"Journey Before June 2022"
Initially, io.net focused on developing institutional-grade quantitative trading systems for the U.S. stock market and cryptocurrency markets. The primary challenge was creating an infrastructure with robust computational power for a high-performance backend trading system.
"Addressing the Compute Shortage"
Encountering the limitations of traditional computing providers firsthand, the venture into distributed computing began, crafting a solution to the compute power shortage. This led to the creation of decentralized clusters within a DePIN.
"Accelerating Development with Ray.io"
Integrating Ray.io accelerated backend development significantly, reducing deployment time from over six months to under 60 days. However, the high costs of on-demand GPU cloud providers posed a significant challenge, with NVIDIA A100 cards costing over $80 per day per card.
"Financial Challenges and Solutions"
Needing over 50 cards monthly, expenses exceeded $100K, a substantial burden for io.net and other ML startups. io.net emerged from this necessity, leading the DePIN revolution and embracing a future where computational power knows no limits.
"Developing Inside Aptos Labs"
io.net will be developed within Aptos Labs, leveraging their expertise and resources to enhance the decentralized computing network.
"User-Centric Approach"
At io.net, user satisfaction drives every action and decision, making your success the ultimate goal. The priorities are:
Ease of Use: The UX/UI ensures a premium user experience.
Security: Fortified security is not just a feature; it’s a commitment.
Fast Payments: The streamlined payment system enables users to be paid efficiently.
In my opinion, io.net appears to be a promising project in the realm of decentralized computing networks. It addresses a significant need in the industry by offering better, faster, and cheaper cloud solutions compared to traditional centralized services. The project's mission to assemble one million GPUs into a Decentralized Physical Infrastructure Network (DePIN) and its partnership with Aptos Labs demonstrate ambition and strategic planning. However, its success will depend on factors such as execution, market adoption, competition, and technological advancements.
The good news is that IOLAUNCHPOOL is available in BINANCE where you get IO tokens by simply staking BNB or FDUSD
Users will be able to stake their BNB and FDUSD into separate pools to farm IO tokens over four days, with farming starting from 2024-06-07 00:00 (UTC).
Listing
Binance will then list IO at 2024-06-11 12:00 (UTC) and open trading with IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY trading pairs. The seed tag will be applied to IO.
(IO Launchpool Details)
Token Name: IO.NET (IO)
Total Token Supply at Genesis: 500,000,000 IO
Max Token Supply: 800,000,000 IO
Launchpool Token Rewards: 20,000,000 IO (4% of total token supply at Genesis)
Initial Circulating Supply: 95,000,000 IO (19% of total token supply at Genesis)
Smart Contract Details: Solana
Staking Terms: KYC required
Hourly Hard Cap per User:
17,708.33 IO in BNB pool
3,125 IO in FDUSD pool
