Io.web, a Solana SOL
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-based decentralized bodily infrastructure community (DePIN) mission targeted on sourcing GPU computing energy, has unveiled a rewards program in anticipation of its token launch.
Dubbed Ignition, this system begins its first section on Mar. 1 and can run till Apr. 28, Io.web stated Wednesday. This system will reward factors to customers based mostly on their provide of GPUs to the community.
“Various components are thought of within the rewards algorithm, together with job hours accomplished, the node’s bandwidth, GPU mannequin, and uptime,” Io.web stated. This system may even contemplate GPU provider exercise relationship again to the launch of io.web in Nov. 2023, io.web added.
What’s io.web?
Io.web is a Solana-based DePIN mission that aggregates GPU assets for synthetic intelligence (AI) and machine studying (ML) corporations. The mission originated in 2020 when Shadid was constructing Darkish Tick, an ML quant buying and selling enterprise, he stated. Darkish Tick required an “immense” quantity of computing capability to run fashions for each inventory and cryptocurrency being traded.
To scale back prices, Shadid stated, he designed a distributed community of GPUs worldwide. After OpenAI launched ChatGPT, he realized that the community was fitted to serving AI/ML corporations, which additionally required huge computing capability at low latency. Subsequently, Io.web turned one of many winners of the Solana Hackathon in April 2023 and launched the community in November.
Io.web stated that its community at present supplies entry to tons of of 1000’s of GPUs at decrease prices and quick lead occasions. Since its launch three months in the past, in line with Shadid, io.web has grown to over 25,000 nodes, served greater than 47,000 compute hours, and paid greater than $300,000 from prospects to community suppliers.
“The demand for GPU compute capability for AI functions is greater than 2.5 occasions the capability that exists in cloud companies like AWS and Azure at the moment, growing prices and lead occasions for everybody,” stated Shadid. “The fact is that AI will solely change into additional entrenched in our on a regular basis lives. From OpenAI’s Sora to Microsoft’s Copilot to the 1000’s of AI startups which can be being constructed, the demand for capability is rising at an alarming charge.”
‘Web of GPUs’
Io.web stated it goals to construct an “Web of GPUs” and remedy the GPU compute capability scarcity that the AI increase has created.
Io.web makes use of the Solana blockchain to supply clear proof-of-compute and make each job and transaction between provider and shopper seen on-chain. The IO token, in flip, supplies a unified transaction expertise for customers and allows incentive mechanisms for suppliers, prospects, and customers to take part and develop the community, the mission stated.
The upcoming launch of the Ignition rewards program is step one to decentralizing io.web and transitioning governance to the neighborhood, io.web stated.
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