In this round of crypto bull market, AI is undoubtedly the track we should focus on and actively deploy. Many capitals, exchanges, etc. have also increased their deployment in the field of AI. For example, the recently highly anticipated AI star project io.net has been launched on Binance Launchpad, further highlighting the important position of AI in the crypto market. #IO去中心化算力网络

1. Introduction to io $IO Project

With the rapid rise of artificial intelligence, the market demand for GPUs has increased significantly, while there is a severe shortage of GPU resources in public clouds. In addition, the global distribution of GPU resources is seriously uneven, and a large number of idle GPU resources are not fully utilized. This has also caused a series of problems, such as long waiting times, limited choices, and high costs. io.net was born in this context.

io.net was created to build a globally accessible decentralized cloud computing network. Through blockchain technology, io.net can aggregate GPU resources scattered around the world, thereby optimizing GPU resource usage, reducing costs, and providing the necessary computing support for AI learning tasks.

For example, io.net aggregates excess GPU resources from independent data computing centers, cryptocurrency miners, and cryptocurrency projects such as Filecoin and Render to form a decentralized GPU network that provides the necessary computing support for AI and machine learning tasks.

Therefore, io.net is not only a widely watched star project in the AI ​​track, but also a star project in the DePIN track. It is a blockchain project that is doubly supported by the "AI+DePIN" track.

2. IO Ecosystem

The current IO ecosystem consists of the following core elements:

1、IO Cloud

The cloud platform is designed to simplify the deployment and management of decentralized GPU clusters, providing machine learning engineers and developers with scalable and flexible access to GPU resources, which is equivalent to a decentralized cloud service platform.

2、IO Worker

A comprehensive and user-friendly interface for users to effectively manage their GPU node operations, including user account management, temperature and power consumption tracking, wallet management, security and profitability analysis, etc.

3、IO ID

Universal identity management for the IO ecosystem.

4、IO Explorer

As the name suggests, IO Explorer is similar to a block explorer, and its main goal is to enable users to monitor, analyze and understand the details of GPU clouds, ensuring full visibility into network activity, statistics and transactions while protecting the privacy of sensitive information.

3. io.net project investors

As a star project in the AI ​​track, io.net has completed two rounds of financing. It completed a US$10 million seed round of financing in May 2023, and completed a US$30 million Series A round of financing with a valuation of US$1 billion in March of this year. As of now, the io.net project has completed a total of US$40 million in financing.

The investment team behind io.net is very luxurious, for example, Multicoin Captial, Hack VC, OKX, Foresight Ventures, Solana Ventures, etc. have all participated in the investment.

IO Token Economics

1. Token Allocation

The io.net project token is IO, with a total supply of 800 million. The token standard is SPL, which is the token standard of the Solana ecosystem, that is, IO belongs to the Solana ecosystem token.

The specific token distribution plan is as follows:

1) Community: 10%;

2) Community release: 37.5%. This part of tokens is mainly used to reward community members and encourage participation and growth of the platform.

3) R&D and Ecosystem: 16.01%, used to support the platform’s R&D activities and ecosystem building, including partners and third-party developers.

4) Initial core contributors: 11.34%, rewarding team members who made key contributions in the early stages of the platform.

5) Early investors (seed round): 12.5%. This part of tokens is allocated to early seed investors to reward them for their trust and financial support in the early stage of the project.

6) Early Investors (Round A): 10.15%, allocated to Round A investors in return for their investment of funds and resources in the early stages of project development.

7) Binance Launchpad: 2.5%

From the perspective of the token distribution plan, Binance Launchpad and community rewards account for 50% of the total tokens, and the rest is distributed to investors, project teams, developers, etc.

2. Token Release

According to the official documentation of the io.net project, the total supply of IO tokens is 500 million (supply at TGE), and the remaining 300 million (37.5% of the total tokens) will be paid as rewards to suppliers and their pledgers, and will be released every hour. This process will continue for 20 years.

And the release of these 300 million IO tokens follows a deflationary model (decreasing), starting from 8% in the first year and decreasing by 1.02% per month (about 12% per year) until the IO cap of $800 million is reached.

investor:

The tokens of seed and Series A investors have a three-year lockup period, which means that the tokens of these investors will be gradually released before June 2027.

The token lock-up period is set to 1 year, after which the tokens of these early investors will begin to be released starting from the 13th month. Specifically, they will begin receiving IO tokens in July 2025, and will be distributed in equal monthly installments over the next 24 months.

Employees and core members:

There is a 4-year restriction period, and tokens will be distributed starting from the 13th month (July 2025), and then distributed evenly over 36 cycles (one cycle per month).

From the above IO token issuance schedule, it can be seen that the token release volume in 2024 will be relatively small, and the token release volume will be around 15% by the end of the year.

3. Token destruction mechanism

IO uses a programmatic token burn system, which uses the revenue generated by io.net from the IOG network to purchase and burn IO tokens. The burn mechanism adjusts the amount of burn based on the price of IO.

4. Initial circulation of tokens

The initial circulation of IO tokens is 95 million, which is the initial circulation of tokens when they go online for trading on June 11, accounting for 11.875% of the total token supply, which is basically comparable to the initial circulation of tokens of projects recently launched on Binance Launchpad.

In short, as a star project that has attracted much attention recently, io.net has not only been favored by Wall Street capital, but also supported by Binance Launchpad, and has also received the dual blessing of the two popular tracks of AI+DePIN. io.net deserves special attention.

Note: This article does not constitute any investment advice, it is for reference only.