Ahmad Shadid stepped down as CEO of the Solana-based DePIN Protocol io.net on Sunday. The decision came two days before the launch of io.net’s token, IO. As a result, the crypto community was skeptical of the decision and the former CEO’s past.
Solana-Based DePIN Project Changes Management
Two days before the IO token launch, Ahmad Shadid announced he was stepping down “effective immediately” as CEO of io.net. The Solana-based protocol is a decentralized physical infrastructure network (DePIN) designed to “provide unlimited computing power to machine learning applications.”
Io.net aggregates GPUs from different storage providers to offer cost-efficient GPU computing power to AI and ML teams. Additionally, it allows users to earn money renting out their spare GPU capacity.
According to Shadid’s post, the decision was taken after careful consideration and is “in the best interest of the community and the project.”
Moreover, he claimed he would show gratitu
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