What is IO (IO)?

Quick Facts

  • Blockchain: Solana (SPL token)
  • Contract: BZLbGTNCSFfoth2GYDtwr7e4imWzpR5jqcUuGEwr646K
  • Category: DePIN — Decentralized Physical Infrastructure Network
  • Use cases: GPU payments, staking, and governance
  • Developer: IO Research
  • Backers: Hack VC, Multicoin Capital, Solana Ventures
  • Series A: $30 million raised in 2024

Introduction

IO is the native utility token of io.net, a decentralized GPU cloud network built on Solana. The platform aggregates idle and underutilized GPU resources from data centers, crypto miners, and independent contributors worldwide, making high-performance compute accessible to AI and machine learning teams at lower costs than traditional cloud providers.

The IO token powers all economic activity within the network, from paying for compute to rewarding suppliers and securing the protocol through staking.

History & Background

io.net was launched in late 2023 by IO Research as a Solana-native DePIN project. It raised a $30 million Series A round in 2024, led by Hack VC and backed by Multicoin Capital and Solana Ventures, reaching a $1 billion fully diluted token valuation. The IO token launched publicly in 2024. By 2026, the network had grown to more than a hundred thousand registered GPUs.

How IO Works

The network has two sides: GPU suppliers and GPU renters. Anyone with a compatible GPU can install the IO Worker software, register their machine, and begin earning IO tokens for providing compute. On the demand side, developers and ML teams use IO Cloud to specify the hardware type, count, and duration they need — the protocol then assembles a virtual cluster from the supplier pool.

Payment flows through smart contracts on Solana, which handle escrow and settlement. Solana's high throughput and low fees make it practical to settle micro-transactions for hourly compute jobs at scale.

Tokenomics

The IO token serves three core roles: payment, staking, and governance. Users can pay for compute in IO tokens or USDC; IO token payments are fee-free, while USDC payments incur a 2% fee, incentivizing IO usage.

Suppliers earn hourly IO token rewards for contributing GPU resources, distributed over a 20-year disinflationary schedule. The emission rate starts at 8% annually and declines roughly 1% per month. To offset inflation, io.net uses network revenue to buy and burn IO tokens, creating ongoing deflationary pressure.

Circulating supply ? 799.50 million IO
Total supply ? 799.50 million IO
Max supply ? 800.00 million IO
Updated 4d ago

Ecosystem & Use Cases

  • AI & ML training: Teams rent GPU clusters for large-scale model training and inference.
  • Cloud GPU marketplace: Individuals and enterprises access on-demand compute at competitive prices.
  • Supplier rewards: GPU owners earn IO tokens for contributing hardware, even during idle periods.
  • Staking: IO holders lock tokens to secure the network and earn a share of rewards.

Team, Governance & Community

IO Research is the core developer behind io.net. CEO Tory Green, who joined from Hum Capital and Lockheed Martin, leads the team with a focus on enterprise growth and protocol maturity. Governance rights are planned for IO token holders, aligning long-term incentives with the community. The project maintains active communities across Discord and Telegram.

Advantages

  • Cost efficiency: GPU compute priced significantly below major centralized cloud providers.
  • Open access: Any compatible GPU owner can join as a supplier with no corporate gatekeeping.
  • Solana speed: High-throughput settlement enables real-time incentive payments at scale.
  • Deflationary design: Token burn mechanism counterbalances emission rewards over time.
  • Strong backing: Well-capitalized with top-tier DePIN and crypto investors.

Risks & Challenges

  • GPU quality variability: Decentralized supply makes hardware consistency harder to guarantee than hyperscale clouds.
  • Adoption risk: Enterprise AI teams may prefer the reliability and SLAs of established cloud providers.
  • Token volatility: IO token price fluctuations can affect supplier economics and demand incentives.
  • Regulatory uncertainty: DePIN models may face evolving compliance requirements in different jurisdictions.

Long-Term Vision

io.net aims to become the foundational compute layer for open-source AI infrastructure — a decentralized alternative to Amazon Web Services, Google Cloud, and Azure for GPU-intensive workloads. By continuously growing its supplier network and deepening enterprise integrations, the project envisions IO as the currency of compute in a world where AI demand for GPUs continues to accelerate.

Frequently Asked Questions

IO is the native utility token of io.net. It is used to pay for GPU compute on the network, reward suppliers for contributing hardware, and stake to secure the protocol.

IO is an SPL token built on the Solana blockchain. Solana's high speed and low transaction costs enable efficient real-time settlement of GPU compute payments.

You can earn IO tokens by contributing your GPU as a supplier on io.net through the IO Worker software. Suppliers receive hourly rewards whether or not their GPU is actively processing a job.

DePIN stands for Decentralized Physical Infrastructure Network. io.net applies this model to GPU compute by coordinating real-world hardware from independent contributors using crypto-economic incentives instead of corporate ownership.

By aggregating idle and underutilized GPUs from global contributors, io.net avoids the overhead of building and operating dedicated data centers, passing those savings on to compute renters.

Yes. io.net uses a portion of network-generated revenue to buy and burn IO tokens, creating deflationary pressure that is designed to offset the ongoing emission of supplier rewards.

io.net raised a $30 million Series A round in 2024 led by Hack VC, with participation from Multicoin Capital and Solana Ventures, among other investors.

Yes. io.net targets AI and machine learning teams, offering on-demand GPU clusters for training and inference workloads at competitive prices relative to centralized cloud providers.