On June 6, 2024, Beijing time, Binance announced that it will list io.net (IO) on June 11, 2024. In this article, we predict the reasonable opening price of Lista in the short term through comparable valuations, opening funds, benchmark projects, etc. The reasonable opening price range of IO tokens is 4-6 US dollars, and the reasonable buying price is around 4 US dollars.
1. About the listing of new coins
Binance will list IO.NET (IO) at 20:00 (ET) on June 11, 2024, and will open IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY trading markets under the Seed Tag trading rules.
âą Token Name: IO.NET (IO)
âą Initial total supply: 500,000,000 IO
âą Maximum token supply: 800,000,000 IO
âą Initial circulation: 95,000,000 IO (19% of the total initial token supply)
âą Total mining volume: 20,000,000 IO (4% of the total initial token supply)
âą Research report: IO.NET (IO)
âą Smart Contract Details: Solana
âą Restrictions: KYC required
âą Hard cap for individual hourly mining
âą BNB mining pool: 17,708.33 IO
âą FDUSD Pool: 3,125 IO
2. Project Introduction
io.net is a decentralized computing network that enables the development, execution, and scaling of ML applications on the Solana blockchain, combining 1 million GPUs to form the worldâs largest GPU cluster and DePIN.io.net solves this problem by aggregating GPUs from underutilized resources such as independent data centers, crypto miners, and crypto projects such as Filecoin and Render, which are combined in the Decentralized Physical Infrastructure Network (DePIN) to give engineers access to massive amounts of computing power in a system that is accessible, customizable, cost-effective, and easy to implement.
3. Product Details
Todayâs IO ecosystem consists of the following core elements:
io.net: Development companies that maintain the IOG network and build products and services on top of it, such as:
âą O Cloud: A cloud platform that allows developers to virtualize infinitely scalable and configurable clusters on demand using computing power from the IOG network.
âą IO Worker: Provides a comprehensive and user-friendly interface for users to effectively manage their GPU node operations through an intuitive web application.
âą O ID: Universal identity management for the IO ecosystem.
âą IOG Network: Also known as the Internet of GPUs or âIOG,â the IOG Network is a decentralized physical infrastructure network of independently operated, geographically distributed hardware nodes that provide permissionless access to on-demand compute.
âą IOG Framework: An open source, developer-friendly SDK that enables builders to deploy products and services on the Internet of GPUs.
The io.net product is built around four core capabilities:
âą Batch Inference and Model Serving: Inference can be performed in parallel on incoming batches of data by exporting the trained modelâs architecture and weights to shared object storage. io.net allows machine learning teams to build inference and model serving workflows across a distributed network of GPUs.
âą Parallel training: CPU/GPU memory limitations and sequential processing workflows present a huge bottleneck when training models on a single device. io.net leverages distributed computing libraries to orchestrate and batch training jobs so that they can be parallelized across many distributed devices using data and model parallelism.
âą Parallel Hyperparameter Tuning: Hyperparameter tuning experiments are inherently parallel, and io.net leverages distributed computing libraries with advanced hyperparameter tuning capabilities to check for optimal results, optimize schedules, and simply specify search patterns.
âą Reinforcement Learning: io.net uses an open source reinforcement learning library that supports production-grade, highly distributed RL workloads with a simple set of APIs.
4. Team Introduction
Ahmad Shadid is the founder and CEO of io.net and was previously a quantitative systems engineer at WhalesTrader.
Garrison Yang is the Chief Strategy Officer and Chief Marketing Officer at io.net and was previously the Vice President of Growth and Strategy at Ava Labs. He graduated from the University of California, Santa Barbara with a degree in Environmental Health Engineering.
Tory Green is the COO of io.net and was previously COO of Hum Capital and Director of Corporate Development and Strategy at Fox Mobile Group.
Angela Yi is the Vice President of Business Development at io.net. She graduated from Harvard University.
5. Financing History
Investment agency
io.net has raised $40MM in two private rounds, with a latest valuation of $1B. This represents 36.24% of the genesis token supply and 22.65% of the maximum token supply.
6. Token Economy
IO is the native utility token of io.net and is used for the following functions:
Payment currency: Payments and transaction fees within the io.net ecosystem, such as purchasing/providing underutilized GPU computing power and deploying GPU clusters.
Staking: Users can participate in network security and earn a share of idle GPU rewards by any of the following methods:
âą Delegate staking $IO tokens with a node of their choice. Delegators stake $IO tokens with a node of their choice.
âą Directly staking more $IO tokens to operate on their own node. Directly staking more $IO tokens to operate on their own node.
Governance: IO tokens enable holders to participate in the governance of the IO Grants DAO by proposing, voting, and implementing funding proposals, which guide the allocation of funds and strategic direction of the GPU Internet Foundation.
7. Project Milestones
8. Secondary Market Forecast
1) Binance launchpool recent performance
As can be seen from the figure below, the returns of Binance IEO projects have declined recently, especially the average ROI on the first day of opening. The NOT token in the previous period opened low and then rose.
2) Funding
3) On-chain lending data
From the on-chain lending data, we can see that this period of IEO projects has little impact on the on-chain lending APY, and the BNB lending APY is about 20%.
4) Comparison with peers
According to the comparison with peers, RNDR and AKT are competitors of IO.NET. If the opening market value of IO tokens can reach the average of the first two, the corresponding price will be US$23.85. If the total market value of IO tokens can reach the average of the first two, the corresponding price will be US$4.03.
5) OTC Price
The current futures price of IO tokens on the AEVO market is $4.63.
To sum up, we believe that the reasonable opening price range of IO tokens is 4-6 US dollars.
9. References
https://www.rootdata.com/zh/Projects/detail/io.net?k=MTAzNTY%3DÂ
https://www.binance.com/zh-CN/research/projects/ionetÂ
