What's up Square Fam🐐
Lemme go straight into the topic.
In this special episode, we will be discussing what is IoNet and how its revolutionizing the industry.
Woah, wait😤
DePIN = Decentralized Physical Infrastructure Networks
Ok Lets dive in🏊
Here I will categorize things into 3 parts.
1️⃣A brief explanation on IoNet
2️⃣The Impact and potential it has gained from having their launchpool at Binance
3️⃣What is next for the DePIN sector
1️⃣A brief explanation on IoNet
🔶IoNet is a blockchain based network which allows users with unused GPU[Graphical Processing Units]power to provide computing power to resource-intensive tasks such as AI model training.
They raised around 30M USD at March 2024, on a valuation of 300M, as part of their Series A.
Notable investors includes: Hack VC, Multicoin Capital, Delphi Labs, Solana Foundation and Many others.
They are using $SOL as their Layer 1, and their ticker is $IO
Their CEO Tory Green said at the last Solana breakpoint event:
"Intel's CEO said that GPUs are the new oil"
and that they are building an infrastructure so startups can afford to run AI models.
Their business model:
🔶They combine GPU power from under utilized sources across the globe and combine them together in order to achieve a place similar to a marketplace, which allows organizations that uses Machine Learning to access almost unlimited computing power at a fraction of the cost.
They are offering services for the following sections:
Batch Inference and Model serving
Parallel Training
Parallel Hyperparameter Tuning
Reinforcement Training
To put things to simple, If you want an affordable place to run and test your AI models and anything related to ML, Io.net is the way to go.
2️⃣The Impact and potential it has gained from having their launchpool at Binance
🔶As the number 1 exchange, Binance hosts a very strict criteria, making it the OG place for Blue chip Launchpads and Launchpool events.
Y'all Know Axie Infinity? That is a Blue-chip which landed with the Binance Launchpad with a staggering 1643.35x in ROI at its ATH.
Now back to the topic.
🔶Binance Launchpool is a platform within the Binance exchange that allows you to stake your coins, BNB,FDUSD mainly [but can change on the exchange's discretion] in exchange of a pro rata on the coins you lock in [ which is flexible] you get an airdrop of the newly launching projects token.
So, the more tokens you hold, the better.
The Benefits of using Binance Launchpool:
You get an airdrop of tokens proportionally to your token holdings which were locked a the timeframe the launchpool event was held.
As far as it was, mostly the airdrops are 100% unlocked at the time of TGE.
Binance Launchpool usually offers the flexibility to stake and unstake tokens at any moment within the event.
Considerations before aping in:
Profits are not guaranteed: although the launchpool offers early access, there is no guarantee that the token price will increase.
DYOR: Before participating, its vital to research about the project, understand its potential and also its risks.
as you all know, Io.net also conducted their TGE as part of the Binance Launchpool.
🔶What is now ahead for the io.net ecosystem:
They run on Solana, which is very much popular as a L1 among peeps as we speak.
Listed on Binance, brings in easier entry to the IoNet ecosystem, as this ensures robust liquidity levels.
The boom of AI requires significant amounts of computational power, which Io.net can provide.
3️⃣What is next for the DePIN sector
Institutional adoption is on its way, once AI becomes a mature industry
[ IMO AI is still in the phase that is equivalent to the Mt Gox era]
the more computation power maybe required, and as a decentralized solution and as Web3 is also heading towards the upside, Ionet defiantly stands out as the OG DePIN coin.A more transparent and efficient ecosystem where any one can fulfill their computational needs will become a reality.
As blockchain grows, so will DePIN as user adoption increases.
That's it folks.
I hope to see you soon with another, well detailed explanation like this, so make sure you subscribe to not missing out of any of them😄
In case you got questions, feel free to shoot them below, I am reading each of every question😉
At last, not least, make sure you share this with your #IOInternetofGPUs Fam as well.
Until the next episode🫡
Take care💪