Preface
io.net has received a lot of attention since its inception. Whether it is on X, major communities, or even in the media, there has been a high level of discussion. In addition, the tokens are about to be airdropped recently, and it will be a reward for the airdrop of the third phase of the Backpack trading competition, so I simply compiled the information I researched.
This article will discuss the io.net project from five aspects: "Basic Project Information", "Team Information", "Technical Structure", "Operation Overview" and "Token Economy".
Without further ado, let’s get started.
1. Project information
Introduction
io.net revolutionizes the cloud computing industry through a decentralized GPU network, specifically designed for machine learning, to build the world's largest AI computing cloud, providing scalable, easy-to-access and cost-effective computing capabilities.
Solve pain points
It aims to solve the limitations of traditional cloud computing services, such as insufficient computing power, high cost and poor accessibility. Through a decentralized approach, the world's underutilized GPU resources are utilized to significantly increase computing power and reduce costs.
Projects on the same track
Including traditional cloud computing service providers such as AWS, Google Cloud, and Microsoft Azure, which are important competitors in the industry.
unique features
What is unique is its decentralized operating model, which aggregates GPUs from independent data centers, crypto miners, and other crypto projects such as Filecoin and Render to form a large-scale computing network combined with the Decentralized Physical Infrastructure Network (DePIN) , and launched a dedicated $IO token to support network operations.
2. Team information
Create motivation
io.net was founded by Ahmad Shadid, who recognized from his experience as a quantitative systems engineer at WhalesTrader the limitations of traditional cloud services and crypto projects in providing efficient, flexible and cost-effective GPU computing resources.
In order to break through these limitations and provide more cost-effective computing solutions, Ahmad launched this decentralized computing platform, which is committed to utilizing underutilized global GPU resources to provide users with instant and low-cost computing power. At the same time, we also hope to promote the spirit and development of Web3.
Team member information
Ahmad Shadid: Founder and CEO, former quantitative system engineer at WhalesTrader, has a deep technical background and extensive experience in the cryptocurrency industry.
Garrison Yang: Chief Strategy Officer and Chief Marketing Officer, former Vice President of Growth and Strategy at Ava Labs, graduated from the University of California, Santa Barbara with a major in Environmental Health Engineering, and has extensive experience in strategic planning and marketing.
Tory Green: Chief Operating Officer, former Chief Operating Officer of Hum Capital and Director of Corporate Development and Strategy of Fox Mobile Group, specializing in operations management and corporate strategy.
Angela Yi: Vice President of Business Development, graduated from Harvard University, focuses on business development and customer relationship building, and has a high degree of professionalism and network.
Team members past
Ahmad Shadid: Participated in the development of multiple high-end quantitative trading systems at WhalesTrader. These systems have excellent performance in the trading market and are well received by users.
Garrison Yang: Responsibilities at Ava Labs involve driving company growth and strategic planning, and successfully assisting Ava Labs' expansion and innovation in the cryptocurrency market.
Tory Green: Under the leadership of Hum Capital and Fox Mobile Group, successfully implemented multiple operational improvement and strategic development plans to strengthen the company's market position and operational efficiency.
Angela Yi: Her work mainly focuses on expanding business relationships and promoting new business opportunities. She has demonstrated excellent leadership and communication skills during her studies at Harvard University and subsequent career.
3. Technical structure
Technology architecture
io.net adopts a multi-layered technical architecture to support its decentralized GPU cloud platform. Core technologies include IO-SDK, a fork of the RAY distributed computing architecture that supports the parallel running of multi-language tasks.
The architecture includes user interface layer, security layer, API layer, backend layer, database layer and task layer, as well as infrastructure layer, which provide support for cluster management, customer interaction and machine learning tasks. This architecture is designed to meet a high degree of scalability, flexibility, and efficiency while ensuring the security and stable operation of the system.
Technological innovation
io.net's innovative technologies include its decentralized GPU cloud computing model and exclusive reverse tunneling technology, making remote access more convenient and secure, and effectively bypassing firewalls and NAT.
Additionally, its mesh VPN architecture provides ultra-low-latency communications, enhancing system redundancy and fault tolerance. The application of these technologies not only reduces costs and improves performance, but also protects users' data privacy, giving io.net a clear competitive advantage in the cloud computing industry.
4. Operating status
future roadmap
io.net plans to continue expanding its global decentralized GPU network and plans to host a summit in the coming months to announce product-related updates. Business development will focus on recruiting senior sales executives from large technology companies such as Amazon and Google to build a world-class sales team. Additionally, proof of concept validity will continue and further expansion into the large enterprise market will occur, particularly those companies with significant internal AI needs.
Current progress
Currently, io.net has successfully deployed 25,000 GPUs and has a waiting list of 200,000 GPUs. Support for Ray and Kubernetes has been completed, and other product extensions are actively being developed. In addition, it has established cooperation with Filecoin and plans to enter the model storage market.
social media
X: 520,000 followers, average views 50,000.
Telegram: 12,000 followers, users mainly care about Tokenomics and TGE.
Discord: 500,000 users, 30,000 online users, 1,000~2,000 new people added every day.
Linkedin: 2,000 followers, updates 2-3 messages per week, mainly showing the progress of official cooperation.
Loan Overview
On March 5, it completed a Series A financing of US$30 million, valuing it at US$1 billion. The lead investor is Hack VC, and participating investors include Multicoin Capital, 6th Man Ventures, Delphi Digital, Foresight Ventures, Animoca Brands, Solana Ventures, OKX Ventures, Amber Group and many other well-known investment institutions.
Development activity
The code is currently being continuously updated on GitHub with a high frequency of updates, reflecting the development team’s technical activity and commitment to continuous product improvement.
5. Token Economy
total supply
The maximum supply of $IO tokens is set at 800 million.
Initial distribution of tokens
The 500 million $IO tokens in the initial supply will be distributed as follows:
Seed investors: 12.5%
Series A investors: 10.2%
Core contributors: 11.3%
R&D and ecosystem construction: 16%
Community: 50%
Real-time token distribution and lock-up data
The initial supply at genesis is 500 million $IO. The market share of investors and the team will be locked up and not released within the first 13 months after the token issuance. Only the "ecosystem and community" part (which may include airdrops) and community rewards (node rewards) that increase over time will not be affected by lock-up. The initial circulation in the market will be less than 500 million, and the specific number depends on the actual release strategy.
Inflation Rate
The inflation rate of $IO is designed to decrease year by year, with a starting inflation rate of 8% and a monthly downward adjustment of 1.02%, which is approximately 12% annually. With this deflation model, the increase in token supply will gradually slow down to control inflation.
Token usage
$IO tokens are used in the ecosystem to pay for computing services, pledge to participate in network governance, transaction fees and reward mechanisms. In addition, tokens can also be used to invest in node operators or users and pledge to obtain reward shares.
value capture capability
The value capture capabilities of the $IO token come from its multi-purpose use and the opportunity to participate in network governance. As the network grows, more users join, and computing demands increase, the demand for tokens will increase, driving up the token value. A portion of network revenue will be used to buy back and burn $IO, further enhancing the token’s scarcity and value.
in conclusion
Although io.net has faced a lot of negative noise due to the hacker attack incident a few days ago, in terms of application, I personally think it is still a project worthy of "experimentation"; of course, the premise here is that you should not use Look at him from the perspective of a bully. After all, most bullies have the so-called "being bullied" mentality in their hearts. There is no right or wrong. It's just that I feel that when looking at a project in a "lumao" way, it is often easy to ignore the information on its application. This is why I chose to write this article when his airdrop is about to take place.
I am not encouraging everyone to participate in the LU airdrop, but I hope to pay more attention to the project’s motivation, technical structure and token economic model. After all, whether a project is good or bad should not be determined by the token, but by it. The original intention and concept are correct.
References
io.net Doc
