io.net, a Solana-based decentralized physical infrastructure network (DePIN) protocol, announced a new rewards program ahead of its token debut in April.
The program, named Ignition, is set to enter its initial phase on March 1 and will continue until April 28.
How does the io.net reward system work?
Through Ignition, users will earn points based on their contribution of graphics processing units (GPUs) to the network.
Other factors, such as completed job hours, node bandwidth, GPU model, uptime, as well as GPU supplier activity since its inception in November 2023 will also influence the rewards algorithm.
Ahmad Shadid, io.net CEO and founder, refrained from commenting on whether the rewards points would be convertible to the platform’s native IO token, confirming only the token’s expected launch on April 28.
io.net’s GPU initiative
io.net was born out of Ahmad Shadid’s first venture, Dark Tick, a machine learning (ML), quant trading business requiring substantial computing resources.
Recognizing the potential of a distributed GPU network, particularly for artificial intelligence (AI) and ML companies, Shadid conceived of io.net, which presently provides access to hundreds of thousands of GPUs, boasting reduced costs and accelerated lead times.
The platform has seen solid growth since its inception, with over 25,000 nodes, more than 47,000 compute hours served, and customer payments exceeding $300,000.
Ignition and the ‘Internet of GPUs’
io.net envisions an ‘Internet of GPUs’ that will alleviate the GPU compute capacity shortage brought by the AI industry’s unprecedented expansion.
By leveraging the Solana blockchain, io.net ensures transparent proof-of-compute with all transactions visible on-chain.
The upcoming Ignition rewards program marks the project’s initial step toward decentralization and community-driven governance.