Aethir's $50 Million Community Bonus Rewards Program

Celebrating Our Community, Replacing IOnet Swap, Accelerating AI Innovation

Update on Aethir and IO.net Token Swap

After lengthy discussions, we have to announce that the $50m token swap with IO.net will not happen in the short term. It was a joint decision by both foundations (see below for details). In light of this, the Aethir Foundation is excited to announce the Aethir Community Rewards Program, a remarkable initiative that culminates in the distribution of $50 million worth of ATH tokens originally allocated to the swap to our loyal and active participants. This Community Rewards Program is designed to celebrate the Aethir community’s invaluable contributions and further incentivize continued engagement with the Aethir ecosystem.

As additional context for why the token swap with IO.net is not happening, the main reason came down to the timing. As both foundations were unable to align on timing and quantum for the token swap, the foundations have mutually agreed to put the token swap on hold and explore it again in the future. Aethir Foundation preferred to execute the swap in a much shorter timeframe while IO.net Foundation opted for a much longer distribution horizon. Aethir and IO.net will continue with the existing strategic partnership with Aethir in unlocking unprecedented potential in distributed GPU computing. Aethir will continue to be the largest contributor of Enterprise GPUs (H100s and A100s) in IO’s network.

Aethir’s Community Rewards Program

As we continue to push the boundaries of innovation in AI, gaming, and virtualized computing, we are thrilled to announce a significant step in recognizing and rewarding our valued community members: the $50 million Community Rewards Program. This program is a testament to our commitment to being community-first and to foster a thriving ecosystem. 

The ATH tokens originally reserved by the Aethir Foundation for the swap with IO.net will now be redirected to reward the active participants in the Aethir community. This distribution will closely mirror the initial plan for the IO tokens, ensuring a fair and equitable allocation.

Here's how the $50 million worth of ATH tokens will be distributed:

1. Checker License Holder Rewards: $20 million worth of ATH tokens will be distributed among all holders of checker licenses. Each license will be eligible for a minimum amount of ATH, with bonuses for those who have staked at least 2,500 ATH per license for a year and those who have been staking since the TGE. Daily snapshots will be taken to determine eligibility, with the final snapshot on July 23rd, 2024.

2. ATH-AI Staking Pool Boost: The remaining $30 million worth of ATH tokens will be distributed to the ATH-AI staking pool over 24 weeks. This infusion of tokens will enhance the rewards for those staking in the AI pool, further incentivizing participation and supporting the development of AI-powered applications on the Aethir network.

To ensure transparency and accountability, the Aethir Foundation is committed to publicly disclosing the staking pool emissions for the future, more information to come on this soon. This will provide the community with clear insights into the distribution of the additional $30 million in rewards.

Empowering the Community, Building the Future Together

The Aethir $50 Million Community Rewards Program marks a significant milestone in our journey towards a decentralized future for cloud computing. 

By redirecting the resources initially intended for the IO.net token swap, we are reaffirming our commitment to our community and accelerating the growth and development of the Aethir ecosystem. Together, we can unlock the full potential of decentralized GPU computing and shape a more inclusive, innovative, and rewarding technological landscape.