In a surprising turn of events, Ahmad Shadid, the CEO and co-founder of the Solana-based decentralized infrastructure provider io.net, has resigned just two days before the project’s scheduled token launch. Shadid announced his immediate departure on social media, stating that his decision was to prevent any distractions for io.net, despite allegations regarding his past.
Shadid has been replaced by Tory Green, another co-founder and former COO. This change occurs as io.net prepares to launch its token, IO, on Binance’s Launchpool on June 11. The project, which aggregates GPU supply for machine learning startups, has been under scrutiny following a recent GPU metadata attack that significantly impacted its operations.
Shadid addressed concerns about the timing of his departure, assuring the community that his IO tokens are locked for four years, countering fears of a potential token dump. Additionally, Shadid pledged one million IO tokens to the Internet of GPUs Foundation to support the ecosystem’s growth.
Green, now leading the company, emphasized the token launch as a new growth phase, reaffirming their mission to build the largest decentralized AI compute network. Despite the leadership shakeup, io.net continues to focus on expanding its GPU network and onboarding new customers.
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