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, called Ignition, will enter its initial phase on March 1 and will continue until April 28.
How does the io.net reward system work?
Through Ignition, users earn points based on their contribution of graphics processing units (GPUs) to the network.
Other factors such as hours completed, node bandwidth, GPU model, uptime, and GPU vendor activity since launch in November 2023 will also influence the reward algorithm.
Ahmad Shadid, CEO and founder of io.net, refrained from commenting on whether the reward points would be convertible to the platform’s native IO token, only confirming the token’s expected launch on April 28.
io.net’s GPU initiative
io.net grew out of Ahmad Shadid’s first venture, Dark Tick, a machine learning (ML), quantitative trading company that requires significant computing resources.
Recognizing the potential of a distributed GPU network, especially for artificial intelligence (AI) and ML companies, Shadid came up with io.net, which currently provides access to hundreds of thousands of GPUs, with lower costs and faster turnaround times.
The platform has seen solid growth since its inception, with over 25,000 nodes, over 47,000 compute hours, and customer payments of over $300,000.
Inflammation and the ‘Internet of GPUs’
io.net envisions an “Internet of GPUs” that will alleviate the shortage of GPU computing capacity caused by the unprecedented expansion of the AI industry.
By using the Solana blockchain, io.net ensures a transparent proof-of-compute where all transactions are visible in the chain.
The upcoming Ignition rewards program marks the project’s first step toward decentralization and community-driven governance.