io.net has been introduced as the 55th project on Binance Launchpool, marking an exciting development in the field of decentralized AI computing and cloud platforms. This article aims to provide an in-depth, unbiased look at io.net, its mission, value proposition, technical infrastructure, tokenomics, and future outlook.
Affiliate Link to Binance: Join Binance Launchpool
Announcement Link: io.net Launch Announcement
Binance Research Link: Binance Research on io.net
1. What is io.net?
io.net is a decentralized AI computing and cloud platform designed to aggregate GPU supply from underutilized sources, providing machine learning startups and other users with nearly unlimited computing power at significantly reduced costs compared to traditional cloud providers.
1.1 Project Mission & Value Proposition
Mission: The mission of io.net is to create a globally accessible, decentralized cloud computing network. This network aims to offer affordable, flexible, and permissionless access to compute capacity, addressing the rising demand for GPU computing power driven by AI advancements.
Value Proposition: The increasing need for GPU computing power has led to a shortage in the public cloud, resulting in high costs, long wait times, and limited choices. io.net aims to solve these issues by utilizing GPUs from independent data centers, idle crypto mining farms, and individual consumers, potentially reducing costs by up to 90% compared to centralized cloud providers.
2. Technical Infrastructure
io.net’s infrastructure is purpose-built for four core functions, detailed below. For more information, refer to the io.net documentation page.
Batch Inference and Model Serving: io.net allows machine learning teams to build out inference and model-serving workflows across a distributed network of GPUs, parallelizing the process by exporting the architecture and weights of a trained model to the shared object-store.
Parallel Training: io.net leverages distributed computing libraries to orchestrate and batch-train jobs across many distributed devices using data and model parallelism, overcoming CPU/GPU memory limitations and sequential processing bottlenecks.
Parallel Hyperparameter Tuning: Hyperparameter tuning experiments are inherently parallel. io.net uses distributed computing libraries to optimize scheduling and specify search patterns, enhancing the efficiency of hyperparameter tuning.
Reinforcement Learning: io.net employs an open-source reinforcement learning library that supports highly distributed RL workloads alongside a simple set of APIs, facilitating advanced machine learning tasks.
3. Token Sales and Economics
3.1 Token Distribution
io.net has a carefully structured tokenomics model designed to ensure sustainable growth and incentivize participation.
- Genesis Token Supply at TGE: 500,000,000 tokens
- Maximum Token Supply: 800,000,000 tokens
- Initial Circulating Supply When Listed on Binance: 95,000,000 tokens (19.00% of Genesis supply)
- Binance Launchpool Allocation: 20,000,000 tokens (4.00% of Genesis supply / 2.50% of Maximum supply)
- Token Name: IO
- Token Type: SPL
3.2 Token Release Schedule
The token release schedule is designed to balance the supply and demand dynamics, ensuring a steady release of tokens into the market to support ecosystem growth while preventing inflationary pressures.
4. Roadmap & Updates
4.1 Completed Milestones
io.net has achieved significant milestones in its development journey, demonstrating its potential and commitment to innovation.
- 2023: Q2 – Completed seed fundraise round. io.net (formerly ANTBIT.IO) became the first open compute client on the Render network.
- 2023: Q3 – io.net was a gold sponsor of the Ray Summit in San Francisco, showcasing its ability to cluster GPUs in under 10 seconds.
- 2023: Q4 – Public launch at Solana Breakpoint. Video Presentation
- 2023: Q4 – Launched BC8.AI, a decentralized ML model powered end-to-end by io.net.
- 2023: Q4 – Won the Grand Prize and Gold in Computer Science at the 2023 Inventions Asia Awards for the Internet of GPUs submission.
5. IO Token Use Cases
The IO token plays a crucial role within the io.net ecosystem, serving multiple functions:
Payment Currency: Used for payments and transaction fees within the io.net ecosystem, such as purchasing or supplying underutilized GPU computing power and deploying GPU clusters.
Staking: Users can participate in network security and earn a share of idle GPU rewards by either delegating staking IO tokens with a node of their choice or directly staking more IO tokens to operate their own node.
Governance: IO token holders can participate in the governance of the IO Grants DAO, proposing, voting on, and implementing grant proposals to guide the allocation of funds and strategic direction of the Internet of GPUs Foundation.
6. Predictive Analysis and Use Cases
Predictive Analysis: While precise price predictions are challenging due to market volatility, io.net’s innovative approach and robust infrastructure suggest potential for substantial value appreciation.
The increasing demand for GPU computing, coupled with the project’s strategic partnerships and ongoing development, positions IO favorably in the market.
Use Cases:
- AI and Machine Learning: Startups and enterprises can leverage io.net’s decentralized GPU network for cost-effective AI and ML workloads.
- Crypto Mining: Idle crypto mining farms can contribute their GPU power to the io.net network, earning rewards in the form of IO tokens.
- Research and Development: Academic institutions and researchers can access affordable computing power for complex simulations and data analysis.
Dual Staking Opportunity: IO and LISTA
In addition to staking for IO tokens, Binance Launchpool offers a unique opportunity for users to farm both IO and LISTA tokens simultaneously.
By staking BNB and FDUSD, participants can farm IO tokens through the Binance Launchpool and also benefit from the Megadrop event where they can earn LISTA tokens.
7. Summary
io.net represents a significant advancement in the field of decentralized computing, addressing the critical need for affordable and scalable GPU resources. Its comprehensive infrastructure, innovative tokenomics, and strategic roadmap position it as a promising player in the AI and blockchain ecosystems.
Join Binance Launchpool: Create an Account
Learn More About io.net: io.net Launch Announcement
Read the Detailed Report: Binance Research on io.net
