io.net is a decentralized AI computing & cloud platform. By aggregating GPU supply from underutilized sources, io.net creates a network that allows machine learning (ML) startups to access nearly unlimited computing power at a fraction of the cost of the traditional cloud.
IO is the native utility token of io.net, and used in the following functions:
Payment Currency: Payments & transactions fees within the io.net ecosystem, such as purchasing / supplying underutilized GPU computing power, deploying GPU clusters.
Staking: Users can participate in network security & earn share of idle GPU rewards, by either:
Delegate staking $IO tokens with a node of their choice.
Directly staking more $IO tokens to operate on their own node.
Governance: The IO token enables holders to participate in the governance of the IO Grants DAO by proposing, voting on, and implementing grant proposals that guide the allocation of funds and strategic direction of the Internet of GPUs Foundation.
The IO ecosystem today is comprised of the following core elements:
io.net: Development company that maintains the IOG Network and builds products and services on top of the network, such as:
O Cloud: Cloud platform that allows developers to virtualize infinitely scalable and configurable clusters on demand using the compute capacity in the IOG Network.
IO Worker: Provide users with a comprehensive and user-friendly interface for managing their GPU node operations effectively through an intuitive web app.
O ID: Universal identity management for the IO Ecosystem.
IOG Network: Also referred to as the Internet of GPUs, or “IOG”, IOG Network is a decentralized physical infrastructure network of independently operated, geo-distributed hardware nodes that provide permissionless access to on demand compute.
IOG Framework: Open source, developer friendly SDK that enables builders to deploy products and services on top of the Internet of GPUs.
io.net has raised $40MM USD from two rounds of private sales, with a most recent $1B USD valuation. This represents 36.24% of the genesis token supply and 22.65% of the maximum token supply.
As at June 6th 2024, the fixed maximum supply is 800,000,000 tokens & genesis supply at TGE is 500,000,000 tokens. The circulating supply upon listing will be 95,000,000 (19.00% of the genesis token supply).
Key metrics (as of June 6th, 2024)
1. What is io.net?
1.1. Project Mission & Value Proposition?
Project mission
io.net was created to establish a globally accessible, decentralized cloud computing network, providing affordable, flexible, and permissionless access to compute capacity.
Value Proposition
With the rise of AI, there is a large increase in GPU computing power & there is a massive shortage of GPUs in the public cloud. This creates several problems such as long wait times, limited choice and high costs.
By aggregating GPUs from underutilized sources such as independent data centers, idle crypto mining farms and consumers, io.net can provide compute power at up to 90% less than centralized cloud providers.
2. Technical Infrastructure
io.net offering is purpose-built for four core functions below, for More details in the documentation page, here:
Batch Inference and Model Serving: Performing inference on incoming batches of data can be parallelized by exporting the architecture and weights of a trained model to the shared object-store. io.net allows machine learning teams to build out inference and model-serving workflows across a distributed network of GPUs.
Parallel Training: CPU/GPU memory limitations and sequential processing workflows present a massive bottleneck when training models on a single device. io.net leverages distributed computing libraries to orchestrate and batch-train jobs such that they can be parallelized across many distributed devices using data and model parallelism.
Parallel Hyperparameter Tuning: Hyperparameter tuning experiments are inherently parallel, and io.net leverages distributed computing libraries with advanced Hyperparam tuning for checkpointing the best result, optimizing scheduling, and specifying search patterns simply.
Reinforcement Learning: io.net uses an open-source reinforcement learning library, which supports production-level, highly distributed RL workloads alongside a simple set of APIs.
3. Token sales and economics
3.1. Token Distribution
Genesis Token Supply Allocation at TGE (500MM Tokens):
Maximum Token Supply Allocation (800MM Tokens):
3.2. Token Release Schedule (Based on Maximum Token Supply)
4. Roadmap & Updates
4.1 Completed Milestones
4.2. Commercial and Business Development Progress
io.net has over 50 commercial and business development partners. Highlights include:
Supply Side:
Aethir: A decentralized cloud provider, has partnered with io.net to integrate their advanced clustering technology with Aethir's decentralized GPU cloud. This collaboration aims to enhance GPU accessibility and performance for AI, machine learning, and gaming workloads.
Exabits: A high-performance GPU supplier, Exabits has agreed to supply io.net with a range of cutting-edge GPUs, including models like the H100s, A100s, A6000s, 4090s, and T4s.
Hiveon: A global leader in mining solutions, Hiveon has partnered with io.net to expand access to Hiveon’s extensive network of 10 million GPU rigs, enhancing the capacity and capability of io.net's decentralized network.
Aurory: A pioneering gaming studio that has teamed up with io.net to integrate AI-based NPCs into their games using io.net's computing resources. Additionally, Aurory aims to engage their gaming community by encouraging them to join io.net as worker nodes.
Demand Side:
Krea: An AI-powered design platform, Krea partnered with io.net to utilize its extensive GPU network for real-time image and video generation. Krea serves over 250,000 users worldwide and leverages io.net for the computational power required for large-scale inferencing.
Nibiru: A Layer 1 blockchain, Nibiru has partnered with io.net to power its AI-powered dapps and zk prover operations using io.net's GPU clusters.
Ritual: A decentralized AI network that has formed a strategic alliance with io.net to revolutionize AI computing. This partnership leverages io.net's decentralized GPU clusters and Ritual’s AI integration tools, including the Internet SDK and node client, to enhance GPU utilization and expand market access for AI applications.
Space and Time: A verifiable compute layer focused on scaling zk proofs within decentralized data warehouses, Space and Time has partnered with io.net to utilize their GPU network for running zk-provers. This collaboration enhances trustless data processing capabilities for smart contracts, large language models, and enterprises by integrating indexed blockchain data with offchain datasets.
Quai Network: A PoW L1 that partnered with io.net to secure its network using io.net's decentralized GPU resources. Fully EVM compatible, Quai aims to integrate the value of its currency directly with compute and energy resources, leveraging the power of decentralized computing to enhance network security and efficiency.
5. Community
6. Appendix