Global largest exchange Binance launched the star project io.net on Solana on its Launchpool earlier this month, bringing io.net back into the spotlight. This article summarizes the operating principles of io.net, ways to participate in renting GPU, and the IO token economics.
io.net is a decentralized computing power network based on Solana, established in February 2023. It aims to provide more efficient and flexible computing power for machine learning, making model training more scalable. With a team of 29 members, including founder and CEO Ahmad Shadlid and Sales Manager Russ Vetrano, io.net received a $30 million investment in March this year from prominent institutions such as Hack VC, Delphi Digital, Solana, Aptos, Foresight Ventures, and ArkStream Capital.
io.net aims to address the global GPU market gap and the increasing hardware threshold for AI startups. By aggregating available GPU resources from data centers, cryptocurrency miners, and decentralized storage providers, io.net creates a vast computing power pool. It operates through a dual-token system consisting of $IO and $IOSD tokens to incentivize network participation. Users can deploy their computing tasks on the network, which dynamically allocates them to available GPU resources based on task complexity and hardware functionality.
While io.net’s potential is promising, there are uncertainties regarding its mainstream adoption and challenges associated with its implementation. The project offers products like IO Cloud, IO Worker, and IO Explorer, with the native token IO supporting various utilities within the ecosystem. The IO token’s economic model includes incentives for GPU renters, GPU suppliers, and token holders, aiming to create a decentralized business model integrating idle computing resources.
For more information, visit the official website of io.net.