Binance Launchpool has recently launched a series of new currency activities. Last week, it announced the launch of the new currency mining activity of the DePIN project io.net, which has been quite discussed before. Since the start of the activity, it has attracted a total of more than 4 billion US dollars in funds to participate in IO tokens. Mining. However, many investors who participated in the event did not know much about io.net. Therefore, today we will introduce what kind of project io.net is and why it has caused such a high degree of discussion in the market.
As we all know, the advent of ChatGPT symbolizes that the world is entering a new era of artificial intelligence (AI). However, in addition to building artificial intelligence models, the entire AI industry chain also contains many indispensable elements, including data resources, computing resources, power resources, etc., and io.net is a project that works on computing resources. It also means that what io.net does is a necessity for the future technology industry.
What is io.net?
Specifically, the io.net Solana blockchain network is a project focused on building an enterprise-level decentralized computing network. Its main goal is to provide machine learning (ML)/artificial intelligence (AI) engineers with a cost-effective way to handle large-scale computing tasks through distributed cloud clusters. According to officials, this cost is much lower than traditional centralized cloud services.
The vision of this project is to build the IO token it developed into the currency of "computing resources", and thereby promote an ecosystem in which computing resources can be used as both an accessible resource and an asset. And supports a wide range of products and services.
In the AI industry, model training is not just about performing simple calculations on a certain device, but requires calling on a GPU network that works collaboratively, using parallel and distributed computing to optimize performance, especially when processing large data when working with sets or complex models.
As AI technology develops, the supply of space, power, and cutting-edge equipment begins to fail to keep up with demand, causing the growth of the technology to be limited. Traditional cloud services currently on the market often cannot meet the high demand for computing resources by AI/ML companies, resulting in hardware (GPU)
Issues include restrictions, limited options and high costs. io.net is the DePin project built to solve this problem. The network aims to pool users’ idle graphics processing unit (GPU) capacity and provide computing power to artificial intelligence companies that require large amounts of computing resources.
io.net builds a DePIN (decentralized physical infrastructure network) by integrating underutilized GPU resources from independent data centers, cryptominers, and other hardware networks such as Filecoin and Render. This network allows engineers to access large amounts of computing power on demand, while the system is designed to ensure ease of use, customizability, cost efficiency and ease of implementation.
io.net network architecture
The current io.net ecosystem architecture is mainly divided into io.net (a development company that maintains the IOG network and builds products and services on the network), IOG Network (meaning "GPU Internet") and IOG Framework (aimed at Building an open source, developer-friendly SDK) three main axes.
Among them, io.net also includes Sanda products, such as: IO Cloud, a cloud platform that allows developers to use the computing power in the IOG network to call computing power on demand, and IO that allows anyone to rent out computing resources such as idle GPUs and CPUs. Worker, IO Explorer for exploring GPU network changes, and identity management IO IDs.
In general, io.net's solutions aim to overcome the limitations of traditional cloud computing services through innovative decentralized computing platforms and provide faster and more economical solutions for various high-performance computing needs.
Native token IO
IO is io.net’s native utility token, which serves as a payment medium for computing services, staking, and governance. io.net has raised US$40 million through two rounds of token private placements, accounting for approximately 10% of the token supply at the time of creation. 36.24% and 22.65% of the maximum supply. In this Binance Launchpool event, 4% of the initial supply was allocated to be distributed to event participants.

The maximum supply of IO tokens is 800 million, of which 500 million will be distributed at launch (500 million will not be immediately circulated), and the remaining 300 million will be issued hourly and paid to providers and their stakers as rewards. However, the rewards issued will continue to decrease over the next 20 years based on a deflation model, starting at 8% in the first year and decreasing by 1.02% per month thereafter (approximately 12% per year).

In addition, there is an automated IO token destruction mechanism in the io.net ecosystem. The income generated during the operation of the io.net network will be used to repurchase and destroy IO tokens.
It is reported that io.net’s latest round of valuation is US$1 billion. Investors include well-known institutions such as Multicoin Capital, Delphi Digital, Animoca Brands, OKX, Aptos Labs and Solana Labs. However, if based on the current Pre Market contract market price of US$4.5 Based on price calculation, the total valuation of IO tokens has risen to US$3.6 billion.

The rigid demand market for DePIN+AI
DePIN＋AI is a concept sector with great development potential in the current cryptocurrency industry. With the evolution of artificial intelligence technology, the demand for infrastructure such as io.net will also become higher and higher. The well-known investment institution Multicoin Capital has also commented on io.net in its research reports in the past:
"io.net is a classic example in the DePIN track, which uses token incentives to structurally reduce the cost of acquiring and retaining supply-side resources, and ultimately reduces the cost to the end consumer. The network brings together a large number of heterogeneous GPUs to A shared pool for AI developers and companies to use, the network is now powered by thousands of GPUs from data centers, mining farms, and consumer devices.”
As a decentralized infrastructure that benchmarks cloud computing giants such as AWS, io.net can provide cheaper and more efficient cloud computing services than AWS (it is said to be 30% to 90% cheaper), which is ideal for those who require a large amount of computing resources. AI model development companies have considerable appeal.
(This article is reproduced from GT Radar with permission)
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This article covers the three hot topics of AI, Solana, and DePIN! What are the highlights of Binance’s new project io.net? First appeared in Zombit.
