Solana

io.net

Burn

USDC

Coin

<a href="https://bitcoinworld.co.in/solana-depin-io-net-announced-tokenomics-with-inflation-model-and-burn-mechanism/" title="Solana DePIN io.net Announced Tokenomics With Inflation Model And Burn Mechanism" rel="noopener noreferrer nofollow"></a>
io.net, a Solana-based decentralized physical infrastructure network, has announced tokenomics for its IO token, featuring an inflation model and a token burn mechanism.
As <a href="https://developers.io.net/docs/overview" rel="noopener noreferrer nofollow">noted</a> in the project’s documentation, the IO token’s total supply is capped at 800 million coins, with an initial distribution of 500 million coins at launch.&nbsp;
The remaining 300 million coins will be allocated as hourly rewards to suppliers and their stakers over 20 years.
This emission of rewards follows a disinflationary model, starting at an 8% annual rate and decreasing by approximately 1.02% each month, leading to an estimated 12% reduction per year.
To create deflationary pressure, io.net will use network-generated revenues to purchase and burn IO tokens, thereby reducing the circulating supply.
See Also: <a class="row-title" href="https://bitcoinworld.co.in/solana-faces-decline-in-open-interest-as-longs-liquidated-amid-price-downturn/" aria-label="“Solana Faces Decline in Open Interest as Longs Liquidated Amid Price Downturn” (Edit)" rel="noopener noreferrer nofollow">Solana Faces Decline in Open Interest as Longs Liquidated Amid Price Downturn</a>
According to io.net, the IO token serves as the native cryptocurrency for the IOG Network, aimed at streamlining economic exchanges within its ecosystem, which includes GPU Renters, GPU Owners, and the IO Coin Holder community.
The network’s economic activities involve GPU Renters, who utilize the tokens for deploying GPU clusters or cloud gaming, and GPU Owners, who offer GPU power. IO Coin Holders secure the network through staking and receive rewards.
Users can make payments in IO tokens, USDC, fiat, or other supported tokens, with incentives for using IO tokens, such as lower or no fees.&nbsp;
A 2% fee is applied to USDC payments, while IO token transactions are fee-free. Supplier earnings from compute jobs in USDC also include a 2% fee.
IO Research, the team behind io.net, recently secured $30 million in Series A funding led by Hack VC, with participation from prominent backers including Multicoin Capital, 6th Man Ventures, Solana Ventures, OKX Ventures, Aptos Labs, Delphi Digital, and The Sandbox, among others.
The team plans to use the fresh fund to fuel team growth, meet customer demands, and accelerate the development of its network.
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote>
#Binance #WRITE2EARN
The post <a href="https://bitcoinworld.co.in/solana-depin-io-net-announced-tokenomics-with-inflation-model-and-burn-mechanism/" rel="noopener noreferrer nofollow">Solana DePIN io.net Announced Tokenomics With Inflation Model And Burn Mechanism</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

Solana DePIN io.net Announced Tokenomics With Inflation Model And Burn Mechanism

ItsBitcoinWorld

Other articles published on Apr 18, 2024

Crypto Market Alert: Could We See an Additional 10% Drop Soon?

Yuga Labs Prioritizes Core Ventures by Offloading Game IPs

10 Top Selling NFTs This Week – Runestones Ordinals, $PUPS & $WZRD BRC-20 NFTs Lead In Sales

A16z raises a second $600 million gaming fund

Laughing Shiba Inu (LSHIB) Will Skyrocket 3,200% as 20% of Supply Gets Burned, Bitcoin Bull (BTCB...

Tether expands beyond USDT, What is it up to?

Join our free newsletter for daily crypto updates!