What is IO
Tokens
1. Project Introduction
io.net is a decentralized GPU network designed to give unlimited computing power to ML applications. It establishes an enterprise-grade decentralized computing network that empowers machine learning engineers to access distributed cloud clusters at a fraction of the cost of comparable centralized services. io.net addresses many challenges in accessing distributed computing resources by aggregating GPUs from underutilized sources such as independent data centers, crypto miners, and other hardware networks (e.g., Filecoin and Render). With io.net, teams can scale their workloads across a network of GPUs with minimal adjustments. The system handles orchestration, scheduling, fault tolerance, and scaling and supports a variety of tasks such as preprocessing, distributed training, hyperparameter tuning, reinforcement learning, and model serving.
Summary: Prior to June 2022, io.net was exclusively devoted to the development of institutional-grade quantitative trading systems for both the United States stock market and the cryptocurrency market. Later, facing limitations on traditional computing, it became committed to exploring distributed computing and proposed solutions to make computing more scalable, accessible, and efficient.
2. Team & Investment Info
Tory Green, CEO and former COO of io.net. In June 2024, founder and CEO of io.net Ahmad Shadid announced his resignation, and Tory Green, co-founder and COO of io.net, took over as the CEO.
Funding: In March 2024, it raised $30 million in a Series A funding round led by Hack VC with participation from Foresight Ventures, SevenX, Multicoin Capital, 6th Man Ventures, M13, Delphi Digital, Solana Labs, Aptos Labs, Longhash, ArkStream, Animoca Brands, Continue Capital, MH Ventures, and OKX Ventures, as well as angel investors including Solana founder Anatoly Yakovenk, Aptos founders Mo Shaikh and Avery Ching, Yat Siu from Animoca Brands, and Jin Kang from Perlone Capital.
3. Social Media URLs
X: https://x.com/ionet
Telegram: https://t.me/io_net
LinkedIn: https://www.linkedin.com/company/ionet-official
4. Token Info
Token Symbol: IO
Total Supply: 800,000,000
Token Type: SOL
Issuance/Burn Mechanism: $IO uses a programmatic token burn system
Contract Address: https://solscan.io/token/BZLbGTNCSFfoth2GYDtwr7e4imWzpR5jqcUuGEwr646K
Token Distribution:
Split Across Five Categories: Seed Investors, Series A Investors, Core Contributors, R&D and Ecosystem, and Community
Along with the emission of Rewards by the IOG Network, the share of early supporters and Core Contributors will continue to decrease. Thus, the share of the Community will grow to about 50% once the distribution of all rewards is complete.
5. Related Links
Official Website: https://io.net/
Other Info: https://docs.io.net/
Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. HTX does not take responsibility for any resulting direct or indirect losses.
