The founder and CEO of the project, Ahmad Shadid, did not specify whether the accrued points will be converted into a native token.

Launched in 2020, Io.net brings together GPU resources for companies with a focus on AI and machine learning. The project became one of the winners of the Solana hackathon in April 2023. Mainnet was launched in November of the same year.

The company's mission is to create the "Internet of GPUs" and solve the capacity shortage caused by the boom in artificial intelligence.

Since its launch three months ago, Io.net has grown to more than 25,000 nodes, generating more than 47,000 computing hours and transferring $300,000 from customers to providers, according to the project.

The goal of this project is to build the “Internet of GPUs” to make the power of AI accessible to anyone in the world. Demand for GPU computing capacity for AI applications is already more than 2.5x the capacity of traditional cloud services such as AWS and Azure, and cost and access are increasingly challenging. As a community, IO Network can address this problem by expanding access to underutilized resources that would otherwise remain unused.

Ignition is the first step in IO's mission to decentralize the IO Network and transition governance to the community.

io.net Cloud gives AI developers the ability to run and instantly deploy GPU Clusters at competitive prices, complete with powerful control over cluster type, including host, location, GPU type, security level, and other specifications. IO Network, implemented on Solana, uses the network to facilitate work and payments, as well as to prove computing integrity (i.e., Proof-of-Compute).

What is DePIN and How does io.net Contribute?

DePIN, or Decentralized Physical Infrastructure Network, leverages blockchain, IoT, and the larger Web3 ecosystem to create, operate, and maintain real-world physical infrastructure. The network leverages token incentives to coordinate, reward, and protect network members. io.net is an integral part of DePIN as the first decentralized GPU ecosystem optimized for machine learning. We connect computing power providers with users to offer accessibility and benefits for everyone involved.