In anticipation of the token launch, Io.net, a Solana-based Decentralized Physical Infrastructure Network (DePIN) project focused on acquiring GPU processing capabilities, has revealed an incentive program.
The initiative, known as Ignition, will run from March 1 to April 28. Io.net revealed the program’s schedule on Wednesday. Users who contribute GPUs to the network will receive points under the plan.
“A number of factors are considered in the rewards algorithm, including job hours completed, the node’s bandwidth, GPU model, and uptime,” Io.net said in a press release. According to io.net, the program would also consider GPU supplier activity after its launch in November 2023.
According to Shadid, the idea began in 2020, while he was creating Dark Tick, an ML quant trading startup. Dark Tick required “immense” processing power to run models for each traded stock and cryptocurrencycurrency.
When asked whether the granted points would be converted into Io.net’s native IO coin, Ahmad Shadid, the company’s creator and CEO, declined to respond. However, he did mention that the token is expected to be released on April 28.
DePIN project Io.net, located in Solana, pools GPU resources for machine learning (ML) and artificial intelligence (AI) firms.
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