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April 16, 2024

Io.net Unveils IO Tokenomics: Sets Maximum Supply At 800M With 50% Distribution To Community

In Brief

Io.net unveiled the tokenomics for its IO token with a plan to mint 500 million tokens and reach 800 million total supply within 20 years.

Io.net Unveils IO Tokenomics: Sets Maximum Supply At 800M With 50% Distribution To Community

Solana-based decentralized peer-to-peer DePIN compute protocol io.net unveiled the tokenomics for its IO token.

Initially, the platform plans to mint 500 million IO tokens upon creation, distributing them across various categories such as seed investors, series A investors, core contributors, R&D and ecosystem, and community. These tokens are designated to incentivize network expansion and adoption. Over 20 years, the token supply will gradually increase to reach a maximum of 800 million IO tokens. These rewards will be distributed to suppliers and stakers every hour over 20 years.

The reward follows a deflationary model, commencing at 8% in the initial year and gradually decreasing by approximately 1.02% each month, equating to roughly 12% per year until it reaches the maximum limit of 800 million IO tokens. As rewards are disbursed, the portions allocated to early backers and core contributors will gradually diminish. Consequently, once all reward distributions are finalized, the community’s portion will expand to 50%.

Currently, users have the opportunity to acquire IO tokens through three distinct methods: firstly, by contributing hardware resources to the network and ensuring their availability, thus earning hourly availability rewards, secondly, by offering their services to users and receiving hourly rental fees, or thirdly, by staking IO Stake quality to nodes within the network and receiving hourly staking rewards.

IO Token Powers io.net’s Ecosystem, Uniting GPU Renters, Owners, and Token Holders

io.net is the company responsible for developing and maintaining the IOG Network. It focuses on creating various products and services that utilize the network, including IO Cloud, IO Worker, IO Models, and IO ID.

io.net’s ecosystem is designed around the concept of computing as a currency, offering a range of tools and services for constructing, training, and deploying machine learning models, all on a blockchain infrastructure powered by Aptos and Solana. IO token serves as a standard currency for computing, representing a resource and an asset within an ecosystem of products and services.

The token serves the needs of three primary groups within the io.net ecosystem. These groups include GPU renters or machine learning engineers who require GPU computing power on the IOG Network, GPU owners or entities that aim to offer their underutilized GPU computing power on the IOG Network, and IO token holders who actively participate in ensuring crypto-economic security and providing incentives to align the interests of all parties, fostering network growth and adoption.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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