Bittime - IO coin is one of the tokens that is attracting the attention of the crypto community. IO Coin, also known by the symbol $IO, is the native token of the IOG network. These tokens have an important role in providing economic incentives in the io.net ecosystem.
This article will discuss in detail about IO Coin, including how it works, its benefits, and its future predictions.
What is io.net?
io.net is the world's largest decentralized AI computing network that allows machine learning engineers to access scalable distributed clusters at a fraction of the cost compared to comparable centralized services.
io.net has the unique ability to create clusters of tens of thousands of GPUs, both co-located and geographically dispersed, while maintaining low latency for its users.
In addition to direct suppliers on the network, DePINs such as Render (which focuses on image rendering) and Filecoin (which focuses on storage) also supply their computing capacity to io.net to access monetization from AI/ML companies.
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What is IO Coin?
IO Coin is the native token of io.net. $IO present as a new innovation in the world of cryptocurrencies that offers various benefits to its users. The token is designed to meet the needs of three main groups in its ecosystem: GPU tenants, GPU owners, and IO Coin holders.
By harnessing untapped computing power, IO Coin not only supports machine learning engineers in processing data more efficiently but also provides opportunities for crypto miners and data centers to monetize their resources. Thus, IO Coin creates a balanced and mutually beneficial ecosystem for all parties involved.
GPU User (Tenant)
GPU users, often referred to as tenants, are made up of machine learning engineers and individual consumers who want to purchase GPU computing power on the IOG network. These engineers use $IO to operate GPU clusters, run cloud gaming applications, and build pixel streaming applications with Unreal Engine 5 or a similar platform.
Individual consumers can also leverage $IO to inference serverless models in BC8.ai and hundreds of applications and models that will be hosted by io.net in the future.
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GPU Owner (Supplier)
The second group is GPU owners, known as suppliers. They are made up of independent data centers, crypto miners, and professional miners who want to monetize their unused GPU computing power on the IOG network. By providing their GPU computing power, these suppliers receive rewards in the form of $IO that they can use or trade.
IO Coin Holders (Community)
The third group is IO Coin holders, who are often referred to as communities. They participate in providing crypto economic security and incentives to align benefits and penalties between all parties involved, in order to support the growth and adoption of the network. It is important to note that these three groups are not exclusive. An IO Coin holder can also be a GPU tenant or GPU owner, or even both.
IO Coin Tokenomics
Tokenomics refers to the overall structure and mechanism of a token and how it works within an ecosystem. This includes factors such as token distribution, supply and demand dynamics, usability in the ecosystem, incentives for stakeholders, governance mechanisms, and mechanisms for value capture and distribution. Here is transparency about io.net tokenomics.
Tokenomics io.net is based on three main principles:
1. The maximum supply remains at 800 million $IO.
2. Hourly rewards for suppliers and their stakers.
3. $IO combustion mechanism.
Fixed Supply
There is a fixed maximum supply of 800 million $IO coins. A total of 500 million $IO coins will be distributed at launch, while the remaining 300 million coins will be issued and paid out to their suppliers and stakers in return. This is done every hour.
Hourly Rewards
Rewards are given to suppliers and their stakers every hour for 20 years. This reward follows a disinflationary model, starting at 8% in the first year and decreasing by 1.02% per month (about 12% per year) until the limit of 800 million $IO is reached. The graph below is a breakdown of emissions and annual inflation rates.
Source: io.net
Burn Mechanism
$IO uses a programmatic coin burning system where the income generated by io.net from the IOG network is used to buy and burn $IO. This burning mechanism adjusts the amount of $IO to be burned based on the price of the $IO, thereby reducing the supply of coins in circulation and creating deflationary pressures on the $IO.
IO Coin Allocation
Initially, io.net had a supply of 500 million $IO divided into five categories: seed investors, series A investors, core contributors, R&D and ecosystems, and communities. This supply will increase to 800 million $IO over 20 years as emissions $IO to drive growth and network adoption.
The initial supply of 500 million coins is subject to the schedule detailed in the official documents. In addition, the circulating supply will increase along with the rewards. Rewards are unlocked when they are received and added to the circulating supply.
- Circulating Supply: The number of $IO in circulation is generally without restrictions on on-chain transfers.
- Locked Supply: The number of $IO that has not been allocated and has not been circulated.
- Supply Available: The number of $IO that are part of the circulating supply or have been issued but remain locked. Unissued rewards are not included in the available supply.
- Maximum Supply: The maximum number of $IO coins that will exist after all tokens are issued.
Source: io.net
Along with the emission of Rewards by the IOG Network, the share of early supporters and Core Contributors will continue to decrease. Thus, the share of the Community will grow to about 50% once the distribution of all rewards is complete.
Source: io.net
Conclusion
With transparent mechanisms and clear principles, IO Coin has the potential to become one of the significant tokens in the cryptocurrency world.
For those interested in the world of GPU computing and the crypto ecosystem, IO Coin offers exciting opportunities to participate and earn profits.
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To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have a sufficient balance by depositing a certain amount of funds into the wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can only buy crypto assets on the application.
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DISCLAIMER: This article is informational and does not constitute an offer or solicitation to sell or buy any crypto assets. Crypto asset trading is a high-risk activity. The price of crypto assets is volatile, where prices can change significantly over time and Bittime is not responsible for changes in fluctuations in the exchange rate of crypto assets.
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