Note: This article comes from jason_chen998’s Twitter account, and is compiled by Mars Finance as follows:
Let’s talk about @ionet which was launched on Binance today . I think it may follow the same path as NOT. Actually, IO is a project that I missed out on this round. I got quite a lot of quota before, but at that time, IO was just coming out with great fanfare, with all kinds of buffs, a low valuation and generous quota. I thought that such a good thing would not fall on me.
I was worried that it was a hit-and-run TAO copycat, so I didn’t invest after some hesitation. As a result, when I went to Dubai to attend Token2049 in April, I found that the largest advertising space and booth in the entire main venue belonged to IO. At that time, I first thought that this project was really rich, and secondly, I realized that I seemed to have missed something.... And now I’m so happy to be listed on Binance.
AEVO's current offer for IO is 4U, with a total of 800 million issued, so the current market value is 3.2 billion US dollars. To be honest, this market value is relatively reasonable in this round of Binance's new coins, or even slightly lower. Dragon One's brother TAO is currently 7.2 billion US dollars, but TAO is an old coin that has been issued for a year and has 32% in circulation. The initial circulation of IO was 19%, which is relatively high among Binance's new coins. Looking back at the previous new coins, they were basically 10% to 15%. It may be because Binance was previously criticized by Fud for its high market value and low circulation, so this time the market value of IO was deliberately suppressed, which is a (relatively) low market value and high circulation. Combined with the background that IO has been fully buffed and the project party is very rich, and the entire cottage market has collapsed in the past two days, IO may also be affected. I think it may follow a script similar to NOT, which falls first and then pulls up sharply, so I personally will wait until a reasonable hitting zone such as a market value of 2.5 billion or even lower before entering, and bet on a pull-up trend. In addition, Binance's Launchpool mining accounts for 4% of the initial supply, and BNB has also broken a new high recently. In a bull market, holding BNB really proves the saying of "eating and getting".
Back to IO itself, AI+Depin+Solana are all buffed up. IO is the winner of Solana's 2023 Hyperdrive Hackathon and has received official investment from Solana, so Hyperdrive Hackathon is a direct way to enter the Solana ecosystem. The list of winners of the last hackathon is as follows. If you are interested, you can also check it out to see if there are potential opportunities in it https:// solana.com/news/solana-hy perdrive-hackathon-winners…
IO mainly tells the story of decentralized computing power. Although this story is not new and projects have been emerging as early as 2017, with the global AI wave this year, hot money has poured into this track. However, apart from the hype of Fomo, from the overall logic, the surge in Nvidia's stock price and the hoarding of graphics cards by various companies also mean that GPU computing power is not enough. According to Moore's Law, processor performance should double every 18 months, which was an exaggerated growth rate before and was completely sufficient for use. However, the computing power brought by AI currently doubles every 4 months, causing Moore's Law to fail and the production speed seriously cannot keep up with the consumption speed. Therefore, in this context, the decentralized computing power that makes use of idle computing power has once again become popular. Whether from the perspective of hype or practicality, the market needs a project like IO to appear to occupy its place.
I personally think that decentralized computing is to centralized computing as wind power and solar energy are to thermal power and hydropower. Large-scale centralized electricity consumption still depends on thermal power and hydropower, which are sufficiently stable and controllable, that is, "you can generate as much as you want", while wind power and solar energy are more suitable for solving long-tail electricity consumption scenarios such as households, because the power generation source is not stable enough and depends on the weather, resulting in small amounts of unstable voltage and difficulty in connecting to the grid. In fact, the same is true in the field of computing. Complex computing problems require a large and continuous computing source that can continuously deliver computing power, which can only be achieved by stacking up graphics cards in large clusters. In decentralized computing, everyone contributes their own equipment. Although the computing source is not stable enough, it can solve many long-tail computing needs.
