Io.net, a Solana-based decentralized physical infrastructure network (DePIN) project focused on sourcing GPU computing power, has announced the launch of its rewards program, Ignition, in anticipation of its upcoming token launch scheduled for April 28.
The Ignition rewards program, set to commence its first phase on March 1 and continue until April 28, aims to incentivize users who contribute GPU computing power to the network. Participants will earn points based on various factors, including job hours completed, node bandwidth, GPU model, and uptime. Io.net clarified that the program will also consider the activity of GPU suppliers since the launch of io.net in November 2023.
Ahmad Shadid, founder and CEO of io.net, refrained from commenting on whether rewarded points would be converted into Io.net’s native IO token. However, he confirmed that the IO token is slated for launch on April 28.
Io.net, conceptualized as a Solana-based DePIN project, initially emerged in 2020 during Shadid’s development of Dark Tick, an ML quant trading business. The project aims to aggregate GPU resources for artificial intelligence (AI) and machine learning (ML) companies, addressing the growing demand for computing capacity in these sectors.
Utilizing the Solana blockchain, io.net provides transparent proof-of-compute, ensuring visibility of every job and transaction between suppliers and consumers on-chain. The upcoming IO token launch will facilitate a unified transaction experience and introduce incentive mechanisms for network participants, including suppliers, customers, and users.
Since its launch three months ago, io.net has witnessed significant growth, boasting over 25,000 nodes, servicing more than 47,000 compute hours, and facilitating payments exceeding $300,000 from customers to network suppliers. The project aims to tackle the GPU compute capacity shortage driven by the surge in AI applications, positioning itself as the “Internet of GPUs.”
The launch of the Ignition rewards program represents a crucial step towards decentralizing io.net and transitioning governance to the community, aligning with the project’s overarching vision of democratizing access to GPU computing power.