Io.net Releases Tokenomics and Airdrop Details Ahead of $IO Token Launch on 28th of April

Io.net, a decentralized "Internet of GPUs" powered by blockchain technology, has unveiled detailed tokenomics and airdrop plans for its native token, $IO. The company launched its "Ignition" program in March to reward GPU suppliers, active Discord community members, and participants in Galxe quests with an airdrop of $IO tokens when the token is launched. The highly anticipated token launch is scheduled for April 28th, 2024.

Tokenomics

$IO is designed to be the foundational currency within the io.net ecosystem, powering transactions for computing resources. 50% of the total supply has been allocated to the community in terms of initial airdrop, suppliers, and stakers rewards. Key features of the tokenomics include:

• Fixed Supply: There will be a maximum of 800 million $IO tokens.
• Hourly Rewards: Suppliers and stakers earn hourly $IO rewards over a 20-year period. Rewards follow a disinflationary model to control inflation.
• Burn Mechanism: Io.net will use a portion of network revenue to buy back and burn $IO tokens, creating deflationary pressure.

Airdrop Allocation

io.net is conducting an airdrop to promote network participation and reward early adopters. The allocation details will be revealed as the program progresses, but participation in the network and engagement with io.net's development will be key factors in determining eligibility.

Initial Circulation

At launch, 500 million $IO tokens, 62% of the total token supply, will be in circulation. The initial circulation supply is unprecedented compared to industry practices, which normally see 15% to 20% at launch. This supply will increase to 800 million over time through network rewards. The initial allocation is designed to balance the interests of early investors, core contributors, the R&D and Ecosystem fund, and the broader community.

Io.net has secured a $30 million investment at a $1 billion valuation, demonstrating strong investor confidence in the project's potential to revolutionize the AI computing landscape.

Io.net is a decentralized computing network that aims to provide affordable, flexible, and accessible computing capacity for AI developers and enterprises. Its blockchain-based architecture ensures transparency, security, and fair compensation for all network participants.