The post Bitget Announces PoolX Listing of IO Net (IO) to Boost Decentralized ML Application Development appeared on BitcoinEthereumNews.com.

Victoria, Seychelles, June 11th, 2024, Chainwire Bitget, the leading cryptocurrency exchange and Web3 company, is excited to announce the latest offering on its PoolX staking platform: IO Net (IO). This listing marks another step forward in Bitget’s mission to provide innovative and high-yield opportunities for its users. IO Net is a decentralized computing network that supports the development, execution, and scaling of machine learning (ML) applications on the Solana blockchain. By leveraging the world’s largest GPU cluster, IO Net allows ML engineers to access distributed cloud service computing power at a fraction of the cost of centralized services. With a verified node count of 52,981 and an anticipated airdrop reaching at least 50,000 participants, IO Net aims to revolutionize the landscape of AI computing. Since its inception, IO Net has raised $30 million in funding, led by Hack VC and backed by prominent investors such as Multicoin Capital, 6th Man Ventures, M13, Delphi Digital, Solana Labs, Aptos Labs, and Animoca Brands. This funding will support the development of the largest decentralized GPU network to address the global shortage of AI computing resources. IO has a fixed supply of 800 million tokens, with 300 million tokens gradually emitted for suppliers and stakers who contribute to io.net‘s decentralized AI computing network. Rewards will be distributed over a 20-year period, starting with an 8% deflation rate in the first year and decreasing gradually until the 800 million cap is reached. Through PoolX of Bitget, the IO token can enlarge the distribution of IO to a larger community, thereby promoting the decentralization of the network. PoolX, Bitget’s cutting-edge staking platform, continues to revolutionize the crypto landscape by distributing rewards hourly based on staked amounts. Unlike most decentralized staking products, PoolX allows users to potentially earn popular tokens by staking stable and trusted cryptocurrencies such…

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Filed under: News - @ June 12, 2024 12:22 am