One of the most talked about areas in the crypto world recently has been decentralized physical infrastructure, or DePin. While many projects have come to the forefront in this sense, Solana-based io.net has also attracted a lot of attention.
In March, io.net, which received more than $30 million in investment from the company, including many important crypto projects, and reached a total investment of $1 billion, announced the tokenomics of its own coin, IO, last night.
Total supply 800 million, circulation 500 million…
In the announcement, it was stated that IO’s total supply will be 800 million units and 500 million units will be put into circulation. It was emphasized that the total supply will not be changed in any way, while the remaining 300 million tokens will be distributed to technology providers every hour, divided by years.
A part of the 500 million coins to be circulated will be distributed to seed investors, Series A investment round participants, core developers, general ecosystem employees and the community. The supply will reach 800 million over a period of 20 years.
It was previously mentioned that the token would go into circulation on April 28th, but this was not mentioned in this long and detailed information.
Payments may not only be through IO
It was also informed that payments in the IO ecosystem do not have to be made only with IO coin. Payments can also be made with fiat money, USDC or other tokens supported by the network, but there will also be a transaction fee cut. While this rate is 2% for USDC payments, there will be no transaction fee for IO coin payments.
IOG Network’s earnings will be burned
On the other hand, io.net is the organization behind this whole system, while IOG Network, shortened as “Internet of GPUs”, is the name given to this technology that works independently. IOG Network will also use the commission it receives from technology providers and renters to buy IO coins and then burn these tokens.
IOG Network will receive a 0.25% reservation fee from GPU, or processing power renters. The network will also charge technology providers the same reservation fee for running nodes (validators).
With the revenue generated from this, IO tokens will be purchased and the system will burn them automatically.
