io.net stands as the world’s largest decentralized AI computing network, offering machine learning engineers scalable distributed clusters at significantly lower costs compared to centralized services. It excels in forming clusters of tens of thousands of GPUs, whether located together or spread across different locations, all while ensuring low latency for users.

In this article, let’s learn more about io.net tokens and how to buy IO tokens in India at the most trusted exchange.

What is io.net (IO)?

io.net (IO) is a decentralized GPU network that provides unlimited computing power to machine learning (ML) applications. Its mission is to democratize access to computing power by assembling over 1 million GPUs from independent data centers, crypto miners, and projects like Filecoin and Render.

By leveraging underutilized GPU sources outside of the cloud, io.net aims to solve the current shortage in cloud GPU capacity and make computing more scalable, accessible, and efficient.

Key Components of io.net (IO)

• IO Cloud

IO Cloud allows users to deploy and manage decentralized GPU clusters on demand, eliminating the need for expensive hardware investments. By leveraging the decentralized network of nodes, known as IO workers, users can access extensive GPU resources for their AI projects.

• IO Worker

IO Worker is a web application enabling individuals to lease their devices for additional computational power. Joining the IO network as a worker allows individuals to earn substantial profits by renting out their underutilized GPU/CPU resources, ensuring efficient resource allocation and significant supplier earnings.

• IO Explorer

IO Explorer provides users with detailed statistics and insights into every aspect of the GPU cloud. Similar to a blockchain explorer, it offers transparency into io.net’s operations, enabling users to monitor, analyze, and understand the network’s activities in real time.

• IO Coin

IO Coin, the native currency of the IOG Network, facilitates economic incentives for GPU renters, owners, and IO Coin holders. Users pay for services within the io.net ecosystem using IO tokens, creating demand for the coin and supporting the network’s sustainability.

• IO ID

IO ID acts as the central control center for tracking earnings and expenses. Users can easily monitor their balance and withdraw crypto earnings, simplifying network participation’s financial aspects.

• IOG – The Internet Of GPUs

IOG enhances the platform’s capabilities with backend customizations, making advanced AI scaling accessible worldwide. IOG clusters scale up to thousands of GPUs, supporting tasks such as confidential computing, AI model training, and low-latency model inferencing.

Token Utility and Use Cases

• Payment Currency

The IO token facilitates payments and transaction fees within the io.net ecosystem, enabling users to purchase and supply GPU computing power and deploy GPU clusters.

• Staking

Users can enhance network security and earn rewards by staking IO tokens. Options include delegate staking with a chosen node or directly staking more tokens to operate their node.

• Governance

IO token holders can engage in governance within the IO Grants DAO, proposing and voting on grant proposals that determine fund allocation and the strategic direction of the Internet of GPUs Foundation.

IO Tokenomics

• Ignition Program: 25 million tokens distributed from the first two seasons.
• Galxe Participants: 7.5 million tokens allocated for distribution as part of the Genesis airdrop.
• Investors, Core Contributors, and R&D: Remaining tokens are allocated to investors, core contributors, and future research and development.
• Community Allocation: 50% of the total token supply is dedicated to community sustainability.

After a fair overview of the io.net token, let’s see how to buy IO tokens in India.

Buying io.net (IO) in India

Below are a few simple steps you can follow and buy the IO tokens in India with WazirX, India’s most trusted and widely used crypto exchange.

The best way to buy IO tokens is by depositing INR in your WazirX wallet. Alternatively, you can also buy IO using P2P trade; to get answers to all your queries related to the P2P trade, click here!

Step 1 – Sign-Up on the WazirX platform

To begin buying and selling IO, you must sign up for an account on the WazirX platform. If you already have an account, you can log in directly.

For your reference, here’s how you can open an account on WazirX.

Step 2 – Set up your account security by verifying your email address.

This step is about verifying your email address. After you sign up on the WazirX platform, you’ll get a verification link on your registered email. By clicking on that link, you’ll get two options to ensure the security of your account – the authenticator app and mobile SMS.

Note: The authenticator app is a more secure way to stay safe when compared to mobile SMS because there’s a risk of delayed reception or SIM card hacking.

Step 3 – Complete the KYC process.

After choosing your country, you can proceed with completing the KYC process. Click here for a detailed overview.

Note: You must complete your KYC to be able to trade P2P or withdraw funds on the WazirX app.

Step 4 – Add funds to your WazirX wallet.

To add funds, simply go to your account on the WazirX app or web. Click on “Funds” and then on “Deposit INR.”

You can deposit INR using any mode (NEFT/ RTGS/ IMPS).

You can also buy IO through P2P to the WazirX wallet. The IO will act as funds to help you buy your favorite cryptos.

Step 5 – Finally, buy IO on WazirX.

You can now easily purchase IO tokens using INR Deposits. In the case of P2P trade, check IO to USDT here.

After logging in to your WazirX account, you can choose INR from the “Exchange” tab. You can also check all the price charts, order book data, and an order input form on the right side of the screen.

Click “Buy” after entering the amount and checking the total INR amount to be paid.

Your order will be placed according to the price you input. In the case of a P2P trade, a seller willing to sell at a price will be notified, and then you can exchange the tokens using P2P.

The order might take a few minutes to complete, but as soon as it is executed, you will receive the IO Tokens you purchased in your WazirX wallet.

Happy Trading!

Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.