io.net Leadership Change and Token Launch

Monday, June 10, 2024 12:51 AM
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io.net Leadership Change and Token Launch cover

Decentralized infrastructure provider io.net, a Solana-based AI project, recently underwent a significant leadership change with the departure of co-founder and CEO Ahmad Shadid. Shadid’s exit, which occurred just two days before the token launch, has raised concerns among some in the community. Despite allegations of misrepresentation regarding the number of GPU chips offered by io.net, Shadid emphasized that his departure is to allow the project to move forward without distraction. The io.net token, IO, is set to launch on Binance’s Launchpool, with 95,000,000 IO tokens to be released initially. Shadid has assured that his tokens are subject to a 4-year lockup, and no tokens can be sold until June 2025. The new CEO, Tory Green, has stated that the token launch marks a new phase of growth for the network, with a focus on acquiring and retaining suppliers and onboarding new customers. Io.net has already onboarded approximately 20,000 cluster-ready GPUs and is serving AI-focused companies with end-to-end AI inference and model training workloads.

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