Io.net, a Solana-based DePIN project, has announced that users of its Ignition Rewards Program can claim their rewards on the official application website from June 11, 2024, at 11:00 UTC until June 18, 2024, at 11:00 UTC.

This program, which began on March 1 and ended on April 28, rewarded users who supplied GPU resources to the network, significantly boosting io.net’s capacity to support companies focused on AI and machine learning.

Founded in 2020 by Ahmad Shadid during the development of Dark Tick, a machine learning quant trading business, io.net has grown rapidly.

The need for substantial computing power to run Dark Tick’s models laid the foundation for io.net’s infrastructure.

A recent Series A funding round led by Hack VC and Multicoin Capital raised $30 million, valuing the project at approximately $1 billion, reflecting io.net’s impressive rise in the decentralized AI space.

A major milestone is the upcoming launch of its $IO token on Binance, starting on June 11, 2024, at 12:00 UTC.

This listing is expected to increase $IO’s visibility and accessibility, potentially driving significant growth and acceptance within the crypto community.

Additionally, io.net is undergoing a significant leadership change.

Founding CEO Ahmad Shadid has announced his resignation, with Tory Green stepping in as the new CEO.

This transition comes at a crucial time as the company aims to capitalize on the momentum from the $IO token launch and recent funding success.

Tory Green brings fresh vision and strategies, expected to further expand io.net’s infrastructure and market position in the decentralized AI sector.

The leadership change highlights the project’s maturity and stability, which could boost confidence among investors and users.

With strong financial backing and a revitalized leadership team, io.net is well-positioned to tackle future challenges and seize new opportunities in the blockchain technology field.