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Io.net Launches Token on Binance and Opens Rewards Claim Period Amid Leadership Change

Io.net Launches Token on Binance and Opens Rewards Claim Period Amid Leadership Change

TL;DR

  • Users of io.net’s Ignition Rewards Program can claim their rewards from June 11 to June 18, 2024.
  • The IO token of io.net will be listed on Binance on June 11, 2024.
  • Ahmad Shadid steps down as CEO of io.net, succeeded by Tory Green.

Io.net, a Solana-based DePIN project, has announced that users who participated in its Ignition Rewards Program can now claim their rewards on the official application website.

The claim period starts on June 11, 2024, at 11:00 UTC and ends on June 18, 2024, at 11:00 UTC.

This program, which began on March 1 and concluded its first phase on April 28, has rewarded users who supplied GPU resources to the network.

This effort has allowed io.net to increase its capacity to aggregate GPU resources, essential for working with companies focused on artificial intelligence and machine learning.

The io.net project, founded in 2020 by Ahmad Shadid during the development of Dark Tick, a machine learning quant trading business, has undergone significant development.

To run the Dark Tick models, used in trading stocks and cryptocurrencies, a significant amount of computing power is required.

This technical requirement has become the foundation of io.net’s current infrastructure.

The recent Series A funding round, led by Hack VC and Multicoin Capital, raised $30 million, valuing the project at approximately $1 billion.

This investment reflects the meteoric rise of io.net in the decentralized AI space.

A major milestone for io.net is the upcoming launch of its IO token on Binance.

Starting from June 11, 2024, at 12:00 UTC, the token will be available for trading on this platform.

The inclusion of the IO token on Binance promises to increase the project’s visibility and accessibility, potentially driving growth and acceptance within the crypto community.

This news is highly anticipated by participants of the Ignition Rewards Program and other followers of the project.

Leadership Transition at io.net

In addition to the token launch, io.net is experiencing a significant change in its leadership.

Ahmad Shadid, the founding CEO, has announced his resignation and has handed over the reins to Tory Green.

This leadership transition comes at a crucial time for the company as it prepares to capitalize on the momentum generated by the IO token launch and the recent funding round.

Tory Green, the new CEO, brings a fresh vision and new strategies to guide io.net in its next phase of development.

Under his leadership, the company is expected to continue expanding its infrastructure and strengthening its position in the decentralized AI market.

The leadership transition also underscores the maturity and stability of the project, potentially increasing investor and user confidence.

The Ignition Rewards Program and the IO token launch are key steps in io.net’s mission to provide decentralized computing resources for artificial intelligence and machine learning applications.

With a renewed leadership structure and strong financial backing, io.net is well-positioned to face future challenges and seize opportunities in the dynamic blockchain technology field.

In summary, io.net is making strategic moves that could define its future trajectory.

The combination of a successful rewards program, an impressive valuation, and revitalized leadership positions the company for sustained growth and greater influence in the tech industry.

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