It's been a while since the last project on the Launchpool but earlier today, a new one launched and is now up for farming.
IO, the native utility token of IO Net, a decentralized AI computing & cloud platform can now be farmed by staking either BNB or FDUSD. Check below for further information.
Launchpool Details
- Farming Period: 07 June at 00:00 UTC to 10th June at 23:59 UTC
- Total Rewards: 20 million IO (4% of Total Supply)
- Eligibility: KYC-required, certain jurisdiction/countries and regions are not allowed to participate.
Supported Staking Pools
↪BNB
- Allocated rewards: 17 million IO (85% of the total Launchpool allocation) or 4.25 million IO daily.
- Reward hard cap per user: 17,708.33 IO per hour.
- BNB locked products and on BNB Vault are eligible to receive rewards which are automatically credited to the users' Spot wallets.
↪FDUSD
- Allotted rewards: 3 million IO (15% of total Launchpool allocation) or 750k IO daily.
- The maximum hourly reward for each user is capped at 3,125 IO.
Token Listing
IO will start trading on the Binance Spot market on the 11th of June, 12:00 UTC under the Seed Tag with the following pairs:
- IO/BTC
- IO/USDT
- IO/BNB
- IO/FDUSD
- IO/TRY
Token Information
- Ticker: IO
- Token Type: SPL (Solana based)
- Total Maximum Supply: 800 million IO
- Initial Circulating Supply: 95 million IO (19% of Genesis Token Supply) when listed on Binance
- Genesis Token Supply: 500 million IO
The remaining 300 million IO tokens have been allocated as hourly rewards to suppliers and stakers over the next 20 years. The annual emission rate of rewards will be reduced by approximately 12% per year through a disinflationary model.¹
Token Utility (Use case)
Payment: For transaction fees on the IO Net ecosystem (purchasing/supplying underutilized GPU computing power, deploying GPU clusters).
Staking: Users can earn idle GPU rewards by either delegating their staked IO to the node of their choice. Or they can directly stake IO and run their own nodes.
Governance: Holders can propose IO grants, and vote on and implement grant proposals that guide the allocation of funds.
What is IO.Net
IO.Net is the Internet of GPUs developed for large-scale AI startups. It is a Solana-based "decentralized AI computing & cloud platform. IO Net aggregates GPU supply from underutilized sources, creating a network that allows machine learning (ML) and startups to access nearly unlimited computing power at a cheaper cost compared to the traditional cloud."²
the world’s largest decentralized computing network that allows machine learning engineers to access scalable distributed clusters at a small fraction of the cost of comparable centralized services.
Core Elements
IO Net: The development company maintaining the IOG Network and building products and services including IO Cloud (Cloud platform), IO Worker (an interface for users to manage their GPU node operations through an intuitive web app.), and IO ID (Universal identity management for the IO Ecosystem).
IOG Network: "Decentralized physical infrastructure network of independently operated, geo-distributed hardware nodes that provide permissionless access to on-demand computing."
IOG Framework: Open source, developer-friendly SDK enabling developers to deploy products and services on top of the IOG Network.
Source
Why IO Net?
- Decentralized: Deploy on DePIn
- Streamlined Cluster Deployment: frictionless deployment of ML workloads
- Out of the Box: Pre-configured deployment
- Instant Payment on Solana: Unlock compute in seconds with Solana Pay.
- Better, Faster and Cheaper:
- 100x more GPUs: global GPU access (138+ countries), best selection of optimal AI processors, processor flexibility, sustainable, and end-to-end security.
Summing Up
IO Net became the 55th project on the Binance Launchpool. Eligible users can farm its token (IO) for 4 days by staking in the supported pools.
The need for cloud computing is on the rise and IO Net claims to provide the largest decentralized AI computing and cloud services.
Accordingly, its infrastructure has a global coverage, provides the cheapest cost among its competitors.
Disclaimer: NFA. For infotainment only. DYOR.
Lead image edited on Canva. Photo/Logo from IO.Net & Binance. No copyright infringement intended. 07062024/21:00ph