lo.net, a Solana-based decentralized physical infrastructure network (DePIN) project focusing on sourcing GPU processing capacity, has announced a rewards program, in advance of its token launch.
The initiative, known as Ignition, will begin on March 1 and run through April 28. Io.net announced the program’s schedule on Wednesday. Users who contribute GPUs to the network will get points from the scheme.
“Several factors are considered in the rewards algorithm, including job hours completed, the node’s bandwidth, GPU model, and uptime,” stated Io.net. According to io.net, the program will also take into account GPU supplier activities from the time of io.net’s introduction in November 2023.
When asked if awarded points will be turned into Io.net’s native IO token, Ahmad Shadid, the company’s founder, and CEO, declined to comment. However, he did state that the token is anticipated to launch on April 28.
The Solana-based DePIN project Io.net pools GPU resources for machine learning (ML) and artificial intelligence (AI) businesses.
The initiative started in 2020, according to Shadid, while he was developing the ML quant trading company Dark Tick. To run models for each stock and cryptocurrency that was exchanged, Dark Tick needed an “immense” amount of processing power.
