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io.web, a Solana-based decentralized bodily infrastructure community, has introduced tokenomics for its IO token, that includes an inflation mannequin and a token burn mechanism.
As famous within the undertaking’s documentation, the IO token’s complete provide is capped at 800 million cash, with an preliminary distribution of 500 million cash at launch. The remaining 300 million cash shall be allotted as hourly rewards to suppliers and their stakers over 20 years.
This emission of rewards follows a disinflationary mannequin, beginning at an 8% annual charge and lowering by roughly 1.02% every month, resulting in an estimated 12% discount per yr.
To create deflationary strain, io.web will use network-generated revenues to buy and burn IO tokens, thereby decreasing the circulating provide.
Based on io.web, the IO token serves because the native cryptocurrency for the IOG Community, aimed toward streamlining financial exchanges inside its ecosystem, which incorporates GPU Renters, GPU House owners, and the IO Coin Holder group.
The community’s financial actions contain GPU Renters, who make the most of the tokens for deploying GPU clusters or cloud gaming, and GPU House owners, who supply GPU energy. IO Coin Holders safe the community via staking and obtain rewards.
Customers could make funds in IO tokens, USDC, fiat, or different supported tokens, with incentives for utilizing IO tokens, resembling decrease or no charges. A 2% payment is utilized to USDC funds, whereas IO token transactions are fee-free. Provider earnings from compute jobs in USDC additionally embody a 2% payment.
IO Analysis, the crew behind io.web, just lately secured $30 million in Sequence A funding led by Hack VC, with participation from distinguished backers together with Multicoin Capital, sixth Man Ventures, Solana Ventures, OKX Ventures, Aptos Labs, Delphi Digital, and The Sandbox, amongst others.
The crew plans to make use of the contemporary fund to gasoline crew development, meet buyer calls for, and speed up the event of its community.
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