io.net（IO）Q1 2025市場分析

IO.NET（IO）是一個分散的圖形處理單元（GPU）和中央處理單元（CPU）網絡，旨在提供可擴展有效的計算資源訪問。

Key insights into Primer's analysis of io.net in Q1 2025 highlight both persistent trends and shifts in the network's performance. While the broader crypto market contracted, and iotechnology's token price fell sharply, the physical infrastructure network saw strong revenue growth and is integrating with other DeFi protocols.

Q1 2025中Primer對IO.NET的分析的關鍵見解突出了網絡性能的持久趨勢和轉變。儘管更廣泛的加密貨幣市場簽約，而Iotechnology的代幣價格急劇下跌，但物理基礎設施網絡的收入增長很大，並且正在與其他Fefi協議集成。

Despite Bitcoin's 11.4% decline in market capitalization to $584 billion, crypto market capitalization still reached a record high of $3.1 trillion in Q1. However, Ethereum's market capitalization fell more sharply—by 45.2%—to $246 billion.

儘管比特幣的市值下降了11.4％，至5840億美元，但加密市值仍達到了第一季度的創紀錄3.1萬億美元。但是，以太坊的市值下降了45.2％，至2.46億美元。

As the year progressed, BTC's dominance fell from 48.1% to 40.4%, while ETH's dominance rose from 18.1% to 21%.

隨著年的發展，BTC的統治地位從48.1％下降到40.4％，而ETH的統治地位從18.1％上升到21％。

In the context of iotechnology, revenue is the amount of money compute buyers pay to GPU and CPU providers.

在物種技術的背景下，收入是計算買家向GPU和CPU提供商支付的資金數量。

Compute buyers can rent compute for as long as they desire, but they must rent for at least one hour. Currently, iotechnology allows buyers to pay with IO, USDC, or a credit card via a third party. In the future, there will be a 2% facilitation fee when paying in USDC; however, this fee is currently being waived, and the total cost to reserve compute goes to the suppliers.

計算買家可以在需要的時間內租用計算，但必須至少租用一個小時。目前，Iotechnology允許買家通過第三方向IO，USDC或信用卡付款。將來，在USDC付款時將收取2％的便利費；但是，目前正在免除這筆費用，預訂計算的總費用將匯給供應商。

Q1 saw three months of all-time highs in monthly revenue, which also led to an all-time high in quarterly revenue with $5.7 billion, up 82.6% from Q4 2024.

第一季度的每月收入達到了三個月的歷史最高點，這也導致季度收入有57億美元，比第4季度2024年增長了82.6％。

The IO token was launched on June 11, 2024, via Binance’s Launchpool with an initial circulating supply of 95 million and a total token supply of 500 million. The token has a 20-year emissions schedule that reduces monthly, resulting in a maximum supply of 800 million.

IO令牌於2024年6月11日通過Binance的發射池推出，最初的循環供應量為9500萬，總供應量為5億。代幣的排放時間表可以減少每月的時間，最大供應8億。

Following a strong Q4 2024, where the market cap of IO rose 100.5% to $376 million, Q1 2025 saw a reversal.

在強大的第二季度2024年，IO的市值上升了100.5％，至3.76億美元，第二季度2025年逆轉。

Specifically, the market cap of IO dropped 71.4% to $108 million, driven by a 74.9% decrease in token price despite a 14.5% increase in circulating supply.

具體而言，IO的市值下跌了71.4％至1.08億美元，儘管循環供應量增長了14.5％，但造成令牌價格下降了74.9％。

This dropped IO from the 188th to the 298th largest crypto asset by circulating market cap during the quarter.

在本季度，IO從第188位降至第298位加密貨幣資產。

Iotechnology requires devices with at least 12 GB of RAM, 500 GB of free disk space, and a high-speed internet connection (over 500 MB/s download, 250 Mbps upload, and less than 30 ms ping).

Iotechnology需要具有至少12 GB RAM，500 GB的免費磁盤空間和高速互聯網連接的設備（超過500 MB/s下載，250 Mbps上傳，ping少於30 ms）。

To ensure that suppliers' CPU/GPU resources are genuine and perform as expected, iotechnology implements an hourly Proof-of-Work (PoW) verification process.

為了確保供應商的CPU/GPU資源是真實的並按照預期的效果，Iotechnology實現了每小時的工作證明（POW）驗證過程。

This process, which runs for about 15 minutes, uses a cryptographic puzzle to verify the authenticity and performance of devices, deter fraud, and ensure fair resource allocation.

此過程運行約15分鐘，使用加密難題來驗證設備的真實性和性能，阻止欺詐並確保公平資源分配。

The PoW system comprises three components: a Binary Checker API that seeks a valid solution, a Challenges API that generates the puzzles, and a Results Submission API for verifying the solutions.

POW系統包括三個組件：尋求有效解決方案的二進制檢查程序API，一種生成難題的挑戰API以及用於驗證解決方案的結果提交API。

Devices are visibly marked as verified, pending, or failed on the user interface, and any errors are logged for troubleshooting.

設備在用戶界面上明顯標記為已驗證，待處理或失敗，並且將記錄任何錯誤以進行故障排除。

Average daily verified compute continued to decline in Q1. Verified GPUs fell 11.1% to an average of 6,720 per day, while verified CPUs dropped 4.5% to an average of 1,130 daily.

第1季度的平均每日驗證計算繼續下降。經過驗證的GPU下跌了11.1％，平均每天6,720，而經過驗證的CPU下降了4.5％，平均每天1,130。

This extends a broader downtrend from peak activity in mid-2024, reflecting ongoing supply-side contraction and reduced token incentives amid a 74.9% drop in the price of the IO token.

這擴大了2024年中期的峰值活動的更大趨勢，反映了正在進行的供應方收縮，並減少了令牌激勵措施，而IO令牌的價格下降了74.9％。

After strong early traction, the average daily numbers of GPU and CPU workers and integrators declined in Q1.

在強烈的早期牽引力之後，第1季度的GPU和CPU工人和集成商的平均每日數量下降。

Specifically, worker numbers fell by 11.8% to 2,220 and integrator numbers fell by 4.5% to 1,130, reflecting continued supply-side contraction.

具體而言，工人人數下降了11.8％至2,220，整合商的數字下降了4.5％，至1,130，反映了持續的供應方收縮。

Iotechnology began producing blocks and emitting the IO token as rewards for GPU and CPU suppliers on June 25, 2024.

Iotechnology於2024年6月25日開始生產塊並發出IO代幣作為GPU和CPU供應商的獎勵。

Since then, iotechnology has emitted 40 million, 9.3 million of which were emitted in Q1, which equals $16.9 million at the average Q1 price of 1.82.

從那時起，物種技術已經排放了4000萬，其中930萬在第1季度發出，其平均第1季度的價格為1.82。

At the start of Q1, iotechnology's token price was around 2.5, but it fell throughout the quarter, closing at 1.7.

在第一季度開始時，Iotechnology的代幣價格約為2.5，但在整個季度下降，關閉為1.7。

This contrasts with BTC, which depreciated by 11.4% over the same period, while ETH depreciated by

這與BTC形成鮮明對比，BTC在同一時期貶值11.4％，而ETH則貶值