What Is io.net?
io.net is a decentralized physical infrastructure network (DePIN) that pools idle GPU capacity into distributed clusters for artificial intelligence workloads. It aggregates graphics cards from independent data centers, crypto miners, and other hardware operators, then rents that combined capacity to machine learning engineers who need to train and serve AI models. The pitch is straightforward: by tapping underused hardware rather than building dedicated data centers, io.net aims to deliver compute at a fraction of the cost of centralized providers such as AWS. Suppliers who contribute hardware are paid in the IO token, while buyers can pay for compute in USDC.
- Overview - Table of Contents
- What Is io.net?
- Getting Started With io.net
- How To Get An io.net Wallet?
- io.net Resources
- How To Buy io.net?
- Latest io.net News
The network was founded in 2022 by Ahmad Shadid, who served as the original CEO. Tory Green joined the company in 2023. io.net builds on distributed computing frameworks, including Ray, to let developers scale resource-intensive tasks such as model training, hyperparameter tuning, and reinforcement learning across many machines at once. The token and settlement layer run on Solana, chosen for its low fees and high throughput, while the physical GPUs sit in locations around the world and connect into the network on demand.
Technically, io.net groups individual GPUs into clusters that behave like a single logical supercomputer. A customer specifies the hardware they need, the network provisions matching devices from its supply side, and the workload runs across that distributed cluster. Hardware suppliers earn IO for the time and capacity they contribute, and the protocol coordinates payments, verification, and cluster orchestration. Because supply comes from many independent operators rather than one company, io.net markets itself as a permissionless and globally distributed alternative to traditional cloud GPU rental.
The IO token has a maximum supply of 800 million, with roughly 365 million in circulation as of mid-2026, giving it a market capitalization of around 60 million dollars. IO is the SPL token used to pay hardware suppliers and to participate in the network's incentive programs. The Solana contract address is BZLbGTNCSFfoth2GYDtwr7e4imWzpR5jqcUuGEwr646K. On June 11, 2026, io.net rolled out a tokenomics overhaul it called the Incentive Dynamic Engine, paired with a revenue-backed token burn intended to tie token supply more directly to real network usage.
io.net's history includes several controversies that are worth understanding before evaluating the project. In April 2024, before the token launched, the network drew scrutiny over its GPU counts after reports that roughly 1.8 million fake GPUs had attempted to connect, raising questions about whether the advertised size of the supply network was inflated. On April 25, 2024, io.net suffered what it described as a GPU metadata attack: an exposed user-ID API flaw let attackers alter device metadata rather than the underlying hardware itself. The incident did not compromise real GPUs, but it reinforced concerns about how the network verified its supply.
The token launched on June 11, 2024 through a Binance Launchpool listing and the project's Ignition airdrop. Roughly two days before that launch, founder and CEO Ahmad Shadid stepped down amid allegations and ongoing questions about inflated metrics. Tory Green took over as CEO, and in April 2025 Gaurav Sharma became CEO. The token's price history has been difficult: IO reached an all-time high of about 6.43 dollars shortly after launch in June 2024 and had fallen to roughly 0.16 dollars by mid-2026, a decline of about 97 percent from the peak.
Getting Started With io.net
You can engage with io.net either as a buyer renting compute or as a supplier contributing GPU hardware:
- Step 1: Decide your role. Machine learning teams rent clusters for training and inference; hardware owners with idle GPUs supply capacity to earn IO.
- Step 2: Set up a Solana wallet such as Phantom to hold IO, and fund it with USDC if you plan to pay for compute in stablecoins rather than IO.
- Step 3: To rent compute, use the io.net cloud platform to specify the GPU type and cluster size you need, then deploy your workload across the provisioned cluster.
- Step 4: To supply hardware, connect your GPU devices to the network, pass verification, and begin earning IO for the capacity you contribute.
How to Get an io.net Wallet?
IO is an SPL token on Solana, so any Solana-compatible wallet can hold and manage it:
Phantom
Phantom is the most widely used Solana wallet, available as a browser extension and mobile app. It supports IO and other SPL tokens, holds USDC for paying compute costs, and connects to Solana decentralized exchanges for swapping.
Solflare
Solflare is a long-running Solana wallet with browser, mobile, and hardware wallet support. It handles SPL tokens including IO and offers staking and portfolio features for the broader Solana ecosystem.
Hardware Wallets
Ledger devices support Solana and SPL tokens and can be paired with Phantom or Solflare for cold storage. A hardware wallet is the safest option for holding larger IO balances offline.
io.net Resources
How to Buy io.net?
IO trades on a range of centralized and decentralized venues. Confirm regional availability and current pairs before trading:
Centralized Exchanges
IO is listed on major exchanges including Binance, which hosted the token's Launchpool debut, as well as OKX, Bybit, KuCoin, Gate, and MEXC. Common pairs include IO/USDT and IO/USDC.
Decentralized Exchanges
Because IO is an SPL token, it can be swapped on Solana decentralized exchanges and aggregators such as Jupiter and Raydium using USDC, SOL, or other Solana assets. Connect a Solana wallet like Phantom to trade directly on-chain.
Latest io.net News
The most significant recent development was the June 11, 2026 tokenomics overhaul, which introduced the Incentive Dynamic Engine and a revenue-backed burn mechanism designed to link IO supply to actual network revenue. The change came as the token continued to trade far below its 2024 launch price, and it reflects an effort to rebuild confidence after a difficult stretch marked by leadership turnover and questions about network metrics.
Leadership has changed hands multiple times since launch, with Gaurav Sharma serving as CEO since April 2025 following Ahmad Shadid and Tory Green. Anyone evaluating io.net should weigh the genuine demand for cheaper AI compute against the project's history of inflated GPU counts, the April 2024 metadata exploit, and a token price that has fallen roughly 97 percent from its peak. Following the official blog, docs, and X account is the best way to track supply verification improvements, new hardware onboarding, and the results of the revised tokenomics.