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io.net is a Decentralized Physical Infrastructure Network (DePIN), focusing on providing computing power and storage to machine learning (ML) startups. It allows users to contribute their computing power for rewards paid in $IO tokens, while ML startups can consume it in exchange for a fee. $IO is the native token of the platform that is used to pay fees to the platform, reward network contributors, and grant access to DAO voting.
On 5th March, 2024, the company closed a $30M Series A funding round at a $296M valuation with Delphi Ventures, Multicoin Ventures, and some other prominent funds as participants.
12 months cliff, 24 months vesting