DePIN Protocol io.net CEO Leaves Company

Io.net, a decentralized infrastructure provider on the Solana platform that allows users to rent GPU power for financial compensation, has replaced its CEO just two days before the launch of its native token.

Co-founder and former Chief Operating Officer, Tory Green, has taken over as the new CEO effective immediately after Ahmad Shadid stepped down from the position.

Io.net is an AI project running on Solana that combines GPU supply into a network to provide computing power for machine learning startups at a lower cost compared to traditional cloud services.

Shadid announced his departure on June 9 and clarified that it was to ensure the project’s continued growth and success without any distractions.