Key Points:
- Users of io.net’s Ignition Rewards Program can claim their rewards from June 11 to June 18, 2024.
- The project, valued at $1 billion after a $30 million funding round, will have its IO token listed on Binance starting June 11, 2024.
Solana-based DePIN project, io.net, has recently announced that users who are part of the Ignition Rewards Program can now claim their rewards on the official application website.
Read More: io.net Review: Notable DePIN Project In The Solana Ecosystem
Io.net’s Ignition Rewards Program Announced Claim Period
Users who participate in io.net’s Ignition Rewards Program will have a claim period that starts at 11:00 UTC on June 11, 2024, and will end at 11:00 UTC on June 18, 2024.
io.net’s Ignition Rewards Program began back on March 1 and ended the first phase on April 28 while rewarding users with the supply of their GPU resources to the network. The program increases io.net’s ability to aggregate GPU resources as it works with companies focused on artificial intelligence and machine learning, which are vital for running these operations.
Set up in 2020 by Ahmad Shadid while building Dark Tick, an ML quant trading business, io.net has since undergone massive development. To run the Dark Tick models for trading stocks and cryptocurrencies, a significant amount of computing power is required, serving as the very foundation for the current infrastructure of io.net.
A signal of this pattern is the new $30 million Series A funding the project has just completed, led by Hack VC and Multicoin Capital. This has recently valued io.net’s DePIN project at circa $1 billion, indicative of its meteoric rise in the decentralized AI space.
Leadership Transition Before IO Token Launch
In a milestone-inducing move, Binance will be the first exchanges to list io.net’s IO token in trading pair format, with trading beginning at 12:00 UTC on June 11, 2024. Thew listing promises to be formative for the fortunes of the project, potentially driving growth in terms of visibility and accessibility.
Additionally, io.net is undergoing a leadership transition. CEO Ahmad Shadid recently announced his resignation. Shadid has handed over the CEO position to Tory Green.
