ionet with a valuation of 1 billion launches on Binance Launchpool preparing for the next big wave

Original | Odaily Planet Daily
Author | Asher


This morning, Binance announced that its 55th new coin mining project is io.net (IO), and will be listed on IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY trading markets at 20:00 on June 11th, Beijing time. This news immediately sparked activity in various “fluffy” communities. Below, Odaily Planet Daily will take you through the io.net project, IO token economics, and off-exchange trading situations.
io.net Comprehensive Analysis
Project Overview


Image source:
Official Twitter
io.net is a decentralized computing network that has built a chip-centric marketplace, with the supply side being chip computing power (mainly GPU, as well as CPU and Apple’s iGPU), and the demand side being artificial intelligence engineers looking to complete AI model training or inference tasks. Its mission is to integrate millions of GPUs into its DePIN network.
Initially, the core team’s business was quantitative trading. Until June 2022, they focused on developing institutional-grade quantitative trading systems for stocks and crypto assets. Due to the system’s backend requiring computing power, the team began exploring the possibility of decentralized computing and eventually focused on the specific issue of lowering the cost of GPU computing services.
Funding Situation
According to ROOTDATA, io.net has completed two rounds of financing, with a current valuation of $1 billion and total funding of $40 million, as follows:
May 1, 2023, announced the completion of a $10 million seed round financing;
March 5, 2024, announced the completion of a $30 million Series A financing, led by Hack VC, with other investors including Multicoin Capital, Delphi Digital, Foresight Ventures, Animoca Brands, Continue Capital, Solana Ventures, Aptos, LongHash Ventures, OKX Ventures, Amber Group, SevenX Ventures, and ArkStream Capital, among others.


io.net has completed two rounds of financing, totaling $40 million
Token Economics
According to official io.net documents, its native token is IO, with a maximum supply of 800 million tokens and an initial supply of 500 million IO, distributed as follows:
Community: 250,000,000 IO, accounting for 50.00% of total supply;
Research and ecology: 80,000,000 IO, accounting for 16.00% of total supply;
Seed investors: 62,000,000 IO, accounting for 12.50% of total supply;
Series A investors: 51,000,000 IO, accounting for 10.20% of total supply;
Core contributors: 56,500,000 IO, accounting for 11.30% of total supply.
At the same time, IO allocated to investors has a transfer restriction period of three years, starting from the end of the 13th month and gradually releasing in 24 equal parts until the end of the 36th month from the first allocation date; IO allocated to io.net employees has a transfer period of four years. The transfer restriction starts from the end of the 13th month and gradually releases in 36 equal parts until the end of the 48th month from the first allocation date.


Initial distribution of 500 million IO tokens
The remaining 300 million tokens will be issued and paid as rewards to suppliers and their stakers, with rewards distributed hourly over 20 years. The rewards follow a deflationary model, starting at 8% in the first year and decreasing by 1.02% monthly (approximately 12% per year) until reaching the limit of 800 million IO tokens. IO utilizes a programmatic token burning system, where income generated by io.net from the IOG network is used to purchase and burn IO tokens. The IO burning mechanism adjusts the number of IO tokens to be burned based on the price of IO.


Initial release of IO tokens in the first 6 hours
Off-Exchange Trading
As early as May 8th, Aevo launched io.net (IO) Pre-Launch, and with the latest Binance 55th new coin mining project going live today, the price broke $4.3, currently trading at $4.36, with a 24-hour trading volume of $16,000 and a 24-hour increase of 14.39%.


IO Pre-Launch contract
At the same time, IO also debuted on the Pre-Market market of Whales Market, with IO’s total trading volume ranking first in the Pre-Market market, reaching $5.93 million. Currently, on the Whales Market platform, IO is trading at $4.95, with a 24-hour increase of 27.6%.


Whales Market Pre-Market market
Overall, IO is about to be listed on Binance, igniting heated discussions in the community. Those who participated in the io.net Galaxy mission and held a premium status in the official Discord of IO finally entered the “season” of reaping rewards.