The IO coin ("IO") is the native cryptocurrency and protocol token of io.net ("the Network").

Once we the token is live, Navigate to https://explorer.io.net for up-to-date information on Network tokens.

🚧

IO Coin is launching Q1 2024, Stay tuned.

IO Usage

IO serves the needs of the two primary parties in the IO Ecosystem:

1. AI Startups and Developers
   1. Effortless Cluster Payments: IO Coin will serve as the primary mode of payment within our ecosystem. Startups and Developers can effortlessly pay for cluster deployments, making the process streamlined and efficient they also use "IOSD Credits", which are a $USD-pegged utility token derived from IO in a burn transaction, are used to pay transaction fees for compute jobs on the Network.
   2. Model Inference Gateway : Every model deployed on the io.net must be inference with a micro IO coin transaction
2. Suppliers
   1. GPU Rewards: We understand the value of your GPU resources, and that's why IO Coin ensures that every GPU connected to our network gets its fair share you will be rewarded in network tokens like the native IO or IOSD while deploying and maintaining GPU availability. These network tokens are, Here's how:
      1. Hired Time Profits: When your GPU is hired by machine learning engineers for their projects, you will receive IO Coin payments for the time your hardware is in use. Your contributions are duly rewarded.
      2. Idle Time Profits: Even when your GPU isn't actively hired, IO Coin continues to work for you. We utilize your idle GPU time for inferencing our hosted models on the network, and you'll receive IO Coin rewards for every single inference.

Tokenizing Models and Empowering AI Startups and Engineers

At io.net, we've designed a comprehensive hub for machine learning engineers, and at the heart of it all is IO Coin. This governance token plays a pivotal role in every step of your journey within our ecosystem.

1. Model Development with IO SDK

With IO Coin, you gain access to our powerful IO SDK for model development. It's not just a toolkit; it's your key to unlocking the potential of your ML models within our network. IO Coin governs this creative process, ensuring transparency and fairness.

2. Training Made Effortless

Training your models on io.net is streamlined by IO Coin. Our integrated Compute infrastructure is at your disposal, making model training smooth and efficient. IO Coin ensures a unified experience throughout.

3. Publish and Earn on Deployed Models

When you deploy your models on io.net, IO Coin steps in as the driving force. It not only makes your models accessible to a broader audience but also rewards you for every inference made using your creations. IO Coin ensures you are fairly compensated.

4. Expanding Possibilities with Application Development

Within the io.net ecosystem, application development is open to all. Anyone can create applications using the available models. IO Coin's governance ensures a fair and inclusive environment where developers and model owners mutually benefit from the expanding possibilities of our platform.

IO Token Economic Concepts

The Network uses three token economic concepts to ensure IO supply is both plentiful for usage needs and relatively scarce, with a known maximum.

Max Supply

The Network targeted the distribution of ,500,000 IO per month at launch.the Network uses a two-year halving schedule, resulting in a maximum IO supply of 22,300,000 IO.

The full token emission schedule and supply is subject to changes before the launch and will be announced December 2023.

Burn and Mint Economics

IOSD are a $USD-pegged utility token derived from IO in a burn transaction and used to pay fees on the io.net cloud. IOSD is only produced by burning IO.

One IOSD will always cost $1 Or, $1.00 will always be exchanged for 1 IOSD

This IO to IOSD relationship is based on a design commonly called a burn and mint equilibrium ("BME") and intends to allow for the supply of IO to respond to Network usage trends such that the amount of IO that exists remains static month on month. The amount of IOSD produced by burning IO will increase and decrease based on the USD price of IO as reported by the IO Price Oracles.

Below are a few examples of IO to IOSD conversion calculations:

Example 1: 1 IO = $1.00

• The price of one IOSD is $1.
• The current IO Oracle price is $1
• Burning 1 IO would produce 1 IOSD.

Example 2: 1 IO = $5.00

• The price of one IOSD is $1.
• The current IO Oracle price is $5.
• Burning 1 IO would produce 5 IOSD.

👍

IOSD TOKENS ARE TRANSFERABLE

Net Emissions

Net emissions give the protocol enough IO for rewards in perpetuity.

Net Emissions enable the Network to monitor the number of IO burned for IOSD in a given epoch and add that to the number of IO to mint that epoch.

For example, if 10 IO burn for IOSD in an epoch, the system would mint 10 additional IO than were expected in that given epoch.

A cap on the number of IO minted via Net Emissions per epoch ensures the desired deflationary effect of Burn and Mint and the resulting reduction of supply. Because IO produced via Net Emissions do not add to the total outstanding, they do not violate max supply.