Market Metrics

Total Crypto Market Cap: down 1.5% to $2.57T
Total AI Sector Market Cap: down 2.6% to $23B

Top Movers (24 hours):

📈 Aleph.im (ALEPH): up 69% to $0.2667
📈 Dotmoovs (Moovs): up 31.6% to $0.007519
📈 Spectre AI (SPECTRE): up 27.3% to $2.02

GM Outpost readers,

We're excited to announce some changes to our newsletter that we believe will enhance your reading experience and help you stay ahead of the curve. Starting this week, we're introducing a themed approach to our content, making it easier for you to digest, plan your reading, and extract valuable insights. Here's what you can expect:

Monday (Sound Bites): Detailed breakdown of an important podcast, X space, or Youtube video.
Tuesday (Airdrop Radar): Comprehensive opportunity analysis on an AI token airdrop.
Wednesday (Project Spotlight): Engaging summary on a high profile AI project
Thursday (Big Brain Breakdown): Simplified insights on complex AI topics and theses.
Friday (Weekly Roundup): Highlights on the most critical events of the week.

We'll continue to include brief daily updates to keep you up to date with the latest news and developments.

We're confident that this change will help us to provide more focused content so you can navigate the opportunities in this sector more effectively.

Daily News

🟠 Golem Network announced an MVP integration of Ray on Golem Network. Ray is an AI/ML python framework that will allow applications to leverage decentralized clusters provided through Golem Network.

🟠 Stripe CEO Patrick Collison agrees that AI agents will use crypto rails to verifiably and permissionlessly transact.

🟠 Node AI teased the MVP launch of On Demand Compute, slated for sometime this week.

🟠 Y8U closed its latest funding round led by Morningstar VC, Ape Terminal, Banter Capital, and IBC Group.

🟠 Phala Network released a thread on a new game called Agent Wars that utilizes AI agents.

Sound Bites

Over the weekend we listened to Tory Green from io.net on The Delphi Podcast and found a ton of alpha on both io.net and the decentralized computing space. Let’s dive in 👇

As most of you would know by now, the rapid adoption of artificial intelligence has created extreme demand for computing power. China’s largest import for the past few years has been semiconductors, surpassing crude oil by tens of billions of dollars.

Due to the unprecedented demand, many companies are unable to access the required computing power to build, train and run the AI models they have developed. This is an obvious bottleneck to AI development and adoption.

However, the problem is not that there isn’t enough compute (GPUs/CPUs), but rather that the compute is fragmented and underutilized. Enterprise AI models can’t just be run from one or two GPUs, but rather need huge clusters of 50-100 in order to operate. Basically the only way to access this level of compute is via a centralized provider.

The problem is that current centralized cloud providers are struggling to keep up with the ever-increasing demand, leading to limited availability, high costs, and strict requirements for access.

The solution

Enter io.net, a decentralized training and inference platform built on the Solana blockchain, poised to become the "AirBnB for GPUs" or the "decentralized AWS".

Green goes into io.net’s origin story on the podcast:

Ahmad Shadid, the founder, faced challenges while running an AI-enabled quant trading fund due to difficulties in clustering GPUs for distributed computing using the Ray framework. Undeterred, he forked Ray to enable GPU clustering, a crucial aspect for efficient AI training and inference. The idea was pitched at a Solana hacker house and garnered support from various investors, setting the stage for io.net rise.

io.net's mission is to democratize access to AI by lowering the barrier to entry for both Web2 and Web3 clients. The platform caters to Web2 clients for inferencing, which constitutes a staggering 90% of the market. By offering permissionless access and eliminating the need for long-term contracts, io.net attracts a diverse range of users seeking to harness the power of AI.

Key differences and project moat

In the podcast, Green outlines several key reasons why io.net sets itself apart. One reason is by providing choice and flexibility in compute options. Users can opt for cheap or expensive setups, fully distributed or mimicking AWS configurations, all while enjoying the benefits of easy onboarding. With the ability to spin up a cluster in just 90 seconds and add a GPU with a single line of code, io.net has garnered significant organic demand, boasting a waitlist of over 107,000 before its launch.

By taking a different approach to decentralized compute through its innovating of GPU clustering using the Ray framework, io.net enables enterprise grade clients to leverage huge clusters of GPUs to complete tasks. This is a key difference to other decentralized computing networks that typically call on single instance GPUs. This model is comparable to AWS and other cloud providers and significantly differentiates io.net from other decentralized computing networks.

The importance of incentivizing participants

Crypto plays a vital role in incentivizing participation within decentralized networks like io.net.

Typically, it is difficult to bootstrap two sided marketplaces where you can incentivize both “workers” and “users” but because there is such high demand for users (enterprises) requiring compute + fragmented GPU capacity across solo GPU runners and data centers (workers), the market organically balances itself out.

By offering rewards and enabling micro-transactions, io.net creates a sustainable ecosystem that benefits all stakeholders. The choice of Solana as the underlying blockchain was strategic, given its fast and cheap transactions, robust network, and supportive ecosystem.

Due to the aforementioned reasons, we believe that Web2 companies will begin using decentralized networks to get around the limitations of traditional infrastructure.

Airdrop opportunity

io.net currently has a points program that will likely result in an airdrop at the token generation event (TGE) on April 28. While there isn’t much time left, there is still potentially a chance to get involved on the action. Your options are:

1. Complete the project’s Galxe tasks (free).

2. Set up a “worker node” - see the setup guides here.

Meme of the Day

Us when we find the person who has been selling our tokens 😂

Exclusive Report: Top 5 AI Cryptocurrencies to Watch 2024

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