What currency is IO? A comprehensive introduction to the role of IO currency and token economics
- WBOYOriginal
- 2024-06-19 09:52:48349browse
What is IO token?
IO is the native token of io.net. io.net uses blockchain as the settlement network for its incentive layer, which is why it can use the token incentive model to create such a decentralized business model to integrate idle computing resources.
IO Token Utility
GPU renter fee token: If these rental development teams use IO to pay for renting GPU clusters, they will not be charged a handling fee (in USDC Payment is subject to a 2% handling fee).
GPU supplier pledge requirements: Suppliers of computing resources need to pledge a certain number of IO tokens to obtain idle rewards.
Token pledge: Anyone who holds IO tokens can pledge tokens to the protocol on Solana to obtain pledge rewards.
IO Token Economics
io.net announced the economic model of token IO on April 16. The initial supply of IO tokens is 500 million tokens, which belong to:
Community: 50%
Early seed investors: 12.5%
Early Series A investors: 10.2%
Core developers: 11.3%
R&D and Ecosystem: 16%
# Among them, investors and team shares have lock-up conditions, and the first 13 after the token issuance The moon will not be released. In other words, the initial circulation of io.net tokens will be less than 500 million.
In the next 20 years, the supply of IO tokens will gradually increase to 800 million. Additional tokens are used as incentives for vendors and stakeholders. Rewards start at 8% in the first year and then decrease by 1.02% each month, equivalent to 12% per year, until the maximum supply is reached (800 million). Community rewards account for up to 50%.
In addition, there is an automated IO token destruction mechanism in the io.net ecosystem. The income generated during the operation of the io.net network will be used for repurchases and mergers. Destroy IO tokens.
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