Io.net is an innovative decentralized platform that unites GPU owners worldwide to provide affordable computational power for AI, machine learning, and rendering tasks.
Project name: Io.net
Ticker: IO
Year of company foundation: 2022
Country: USA
Website: Io.net
Technology, investments, and team: 10 out of 10 points🔝
Promising direction for AI development with the potential to get a cheaper version of power through decentralization. Strong team, with experience in numerous crypto projects.
Project description: io.net is a decentralized platform providing access to GPU (graphics processing unit) computational resources for machine learning, artificial intelligence, and rendering tasks. The project unites GPU owners worldwide into a network, allowing them to lease their resources to developers and companies. This reduces computing costs compared to centralized cloud services (AWS, Google Cloud). io.net uses blockchain for transparent accounting of transactions and rewards.
Key features:
🏹 Decentralization: Users can rent computational power directly, without intermediaries.
🏹 Savings: up to 90% cheaper than traditional cloud services.
🏹 Ecosystem: supports integration with AI/ML frameworks (TensorFlow, PyTorch).
Team, description: Key team members:
Gaurav Sharma - CEO and CTO - head of engineers at Binance Jun. 24 - Apr. 25. Head of engineers at Agoda. 5 years 7 months (including eBay and Amazon). Engineering education at the military technology institute in Pune.
Bassem Uba - Co-founder / Chief Operating Officer - work experience only in IO since 2021.
Raj Karan - Product Director - head of strategy department (Binance) 3 years 9 months.
Jack Collier - Director of Marketing - marketing director (Near) 2 years 8 months, marketing director (Circle) 2 years 8 months.
Maher Jilani - Customer Success Director. Receiving training at Stanford in 2024.
Investors: Seed round (2023): investors - tier 1 - Multicoin Capital, Delphi Ventures, tier 2 - Hack VC, OKX Ventures, 6th Man Ventures, Solana Ventures, etc.
Amount of investments: $30 million.
Network checks: https://explorer.io.net/explorer/home
Value of the coin in the project: Token $IO: used for payment for services, staking, and governance in the ecosystem.
Roadmap: 8 out of 10 points📈
If we study the roadmap and the set goals, we can say that the company is on the right track to creating a strong competitor in the AI sector. The only concern is the lack of publicly available plans with specific dates.
Project status: Activities are underway to expand the network of validators and computational representatives.
Complexity and relevance of the project: high
Roadmap:
1️⃣. Aggressive revenue growth
✅ Expansion of cooperation with existing clients (56 deals) and attracting new ones, including startups in AI/ML and large companies.
✅ Increase in the GPU fleet (H100, A100) through partners in NA, EMEA, and APAC.
✅ Creation of bundled offers (compute + storage) and partnership programs with AI/ML companies (e.g., Weights & Biases) and Web3 projects (Flock, Prime Intellect).
2️⃣. Enterprise-level support
✅ Improvement of the Proof of Work system: VRAM, CPU checks, fraud prevention.
✅ Implementation of KYC/KYB and staking IO coin for GPU providers.
✅ Launch of the slashing mechanism to protect the network.
✅ Integration of Kubernetes, virtual machines, and model/data marketplaces.
3️⃣. Community development
✅ Transparency: monthly reports, AMA with management, 3-month roadmap.
✅ Problem tracking system ('The Balancer') and reward programs (e.g., 'Astronaut Program').
✅ Gradual decentralization through DAO and token holder voting.
4️⃣. Reward optimization
✅ Increase in rewards for GPU providers through dilution prevention.
✅ Community engagement in staking distribution of rewards.
5️⃣. Formation of a 'dream team'
✅ Hiring top specialists from AWS, Azure, Coreweave.
✅ Culture of accountability with clear KPIs.
🌎 Global goal:
✅ Replace AWS as the leader in cloud computing ($2.5 trillion), leveraging the advantages of decentralization:
✅ Scalability through distributed GPUs.
✅ Savings up to 90% vs traditional clouds.
✅ Focus on AI (market $4 trillion).
Tokenomics: 9 out of 10 points 🥈
Tokenomics is transparent, there is no clear bias towards investors and the team, the unlocking terms of coins allow to maintain the price within the necessary corridor and increase with the growing demand for the product.
Tokenomics:
The initial supply volume of $IO is set at 500,000,000 tokens, distributed across five categories:
Ecosystem incentives - 18.2%
Masternodes/Staking - 37.5%
Team/Consultants/Contractors (1) - 0.63%
Team/Consultants/Contractors (2) - 11.34%
Private investor sale - 22.65%
Airdrops/Bounty - 5.63%
Liquidity provision - 1.56%
Marketing/Operations - 2.49%
Over the next 20 years, the supply will grow to 800,000,000 due to emissions aimed at stimulating growth and the adoption of networks.
Investors - Tokens allocated to investors are restricted for three years. Transfer restrictions are lifted in 24 equal tranches, starting from the end of the 13th month and continuing monthly until the 36th month after the date of initial allocation.
Employees and key members - Tokens allocated to employees of io.net Inc. are restricted for four years. Transfer restrictions are lifted in 36 equal tranches, starting from the end of the 13th month and continuing monthly until the 48th month after the date of initial allocation.
CoinMarketCap ranking overall and in the industry: 300/ DePIN - 28
Price: $0.84
Launch date of trading: Jun. 24
ATH: $6.43
ATH date: 12.06.2024
Market capitalization: $129 million.
Share of active coins: 19% (153.59 million).
Market capitalization at full emission: $672 million.
Unlock schedule: 50% will be unlocked by October 2026
Share of the top 10 holders: 76%
Checks and partnerships: 9 out of 10 points 🥈
The product assessment by auditors is high, with a good pool of partners.
Checks: Certik - overall score 81.8 points. Lowest score management 61.9, highest community 98 points. Audit from Halborn.
cyberscope - overall score 84, lowest score Fundamental 69, highest score Market 97 points.
Partners: Trust of leading AI startups: nesaAI, publicAI, kreaAI, sharpeAI, wonderAI, leonardoAI, tersorplexAI.
Community: 10 out of 10 points 🔝
Strong community, clear interest in the product from market participants.
Telegram channel: @io_net
Population: 71.3 thousand.
Twitter: https://x.com/ionet
Population: 496,000
Number of mentions in 24 hours: 8,000
GitHub: https://github.com/ionet-official
Number of changes in repositories over the last month: 1
LinkedIn: https://www.linkedin.com/company/ionet-official/
Population: 51-200 people (tracking 4,000 people)
OVERALL SCORE 46 out of 50 points.
Great product with three solid pillars for project growth (technology, team, and community)