Io.net Explores DePin Growth Amid Token Struggles

Io.net, a decentralized physical infrastructure network (DePin) project for computing networks, has forged a strategic partnership with OpSec, a privacy-centric cloud solution.

This collaboration aims to integrate io.net’s decentralized GPU resources with OpSec’s cloud infrastructure, enhancing cloud operations for developers and enterprises.

IO Tokens Struggle Despite New Partnerships

Under this alliance, both companies will develop a proof-of-concept showcasing the efficient deployment of OpSec’s nodes across io.net’s expansive network. Consequently, the DePin companies expect that the initiative will improve the scalability and accessibility of cloud resources markedly.

These improvements will support a vast array of machine-learning models and cloud-based applications. The partnership begins with the immediate development of the integration proof-of-concept, followed by extensive scalability tests to ensure a frictionless developer experience.

“This partnership with OpSec is a significant milestone in our mission to democratize access to GPU compute capacity. By integrating our decentralized resources with OpSec’s advanced privacy-focused cloud infrastructure, we are paving the way for a more scalable, efficient, and secure cloud computing environment,” Tausif Ahmed, VP of Business Development at io.net, said.

Read more: What Is DePIN (Decentralized Physical Infrastructure Networks)?

Moreover, io.net has expanded its partnership network by collaborating with AIRian, a sport-AI community and healthcare provider. Through this partnership, AIRian plans to deploy and expand GPU compute resources to support an active user community.

These resources will be essential for collecting and processing extensive data on daily activities such as walking, running, and healthcare. These will help develop sophisticated sports AI models focused on behavior and statistics. Furthermore, AIRian will delve into GPS-based applications, including competitions and Web3 games.

Despite these promising developments, the IO token, io.net’s native currency, has faced significant market volatility. After reaching an all-time high of $6.5 on June 13, the token has since declined by over 30%.

The token, which was listed on Binance on June 11, plays a crucial role within the io.net ecosystem, facilitating services, transactions, and fees and incentivizing contributors for their GPU power.

The company also witnessed a leadership change as co-founder Ahmad Shadid stepped down from his role as CEO, with co-founder and former COO Tory Green taking over.

Read more: Top 7 Machine Learning Applications in 2024

Previously, observers have expressed concerns about io.net’s transparency and reliability, especially after a GPU metadata attack that caused active GPU connections to plummet from 600,000 to 10,000. These incidents have intensified scrutiny of how the network manages its GPU capabilities and pricing.