IO.net, a Solana-based DePIN project, has made an exciting announcement regarding its Ignition Rewards Program. Users who are part of this program now have the opportunity to claim their rewards on the official application website. The claim period is set to start on June 11, 2024, at 11:00 UTC and will end on June 18, 2024, at 11:00 UTC. This program initially began on March 1 and concluded its first phase on April 28, rewarding users with GPU resources supplied to the network. By participating in this program, users are helping io.net aggregate GPU resources, crucial for companies focusing on artificial intelligence and machine learning.
Established in 2020 by Ahmad Shadid, io.net has seen significant growth since its inception. Shadid, while working on Dark Tick, a machine learning quant trading business, recognized the need for substantial computing power to run trading models effectively. This need for computing power laid the foundation for io.net’s infrastructure, which has evolved over time. The recent Series A funding round of $30 million, led by Hack VC and Multicoin Capital, has propelled io.net’s DePIN project to a valuation of approximately $1 billion. This valuation reflects the project’s rapid progress in the decentralized AI sector.
As io.net continues to expand, it is also undergoing a leadership transition. CEO Ahmad Shadid has announced his resignation, passing on the CEO position to Tory Green. This transition comes at a pivotal moment for io.net as it prepares for the listing of its IO token on Binance. The token will be listed in trading pair format on June 11, 2024, at 12:00 UTC. This listing on Binance is expected to enhance the project’s visibility and accessibility, potentially driving growth and attracting more users and investors.
The Ignition Rewards Program offered by io.net presents a unique opportunity for users to earn rewards by contributing their GPU resources to the network. This program not only benefits individual users but also helps io.net to increase its GPU resource pool, which is essential for companies involved in AI and machine learning operations. By participating in this program, users are actively supporting the advancement of decentralized AI technologies and contributing to the growth of io.net’s ecosystem.
The $30 million Series A funding round secured by io.net highlights the project’s potential and attractiveness to investors. With key players such as Hack VC and Multicoin Capital leading the investment round, io.net’s DePIN project has been valued at $1 billion, indicating its significant impact in the decentralized AI space. The funding will further fuel the growth and development of io.net, allowing it to expand its offerings and reach a wider audience in the AI and machine learning industries.
In conclusion, io.net’s announcement regarding the Ignition Rewards Program claim period and the upcoming listing of its IO token on Binance signifies an exciting phase of growth and expansion for the project. With a focus on decentralized AI technologies and machine learning applications, io.net is poised to make a significant impact in the industry. The leadership transition and successful funding round further solidify io.net’s position as a notable player in the Solana ecosystem. As users claim their rewards and the IO token becomes available for trading, io.net’s journey towards innovation and advancement continues to unfold.
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