Ahmad Shadid, the founder of the decentralized physical infrastructure network (DePIN) protocol io.net, has stepped down as CEO. Tory Green, the current Chief Operating Officer, will assume the role of CEO.

Shadid announced his resignation on June 9 via a statement on X (formerly Twitter), reflecting on io.net's rapid growth and thanking the community and team for their support. He highlighted that io.net has become one of the fastest-growing decentralized AI companies globally. As part of his departure, Shadid donated one million IO tokens to io.net’s GPU Internet Foundation to support the ecosystem’s growth. He emphasized that his decision was in the best interest of the community and the project's future.

Green expressed his honor in taking over the CEO role and acknowledged the strong foundation laid by Shadid. He outlined his vision for io.net’s continued growth, focusing on expanding the network, which currently supports approximately 20,000 cluster-ready GPUs providing AI services to companies such as WonderAI, Krea, and Leonardo. Green also highlighted the upcoming launch of the IO token on June 11, marking a significant milestone expected to accelerate io.net's growth by attracting new suppliers and customers.

This leadership change follows io.net’s recent IO Summit Keynote on June 4, which featured appearances from prominent figures like Solana founder Anatoly Yakovenko and Aptos CTO Dr. Avery Ching. The event showcased the project's latest achievements, including a successful $30 million series A funding round, and discussed strategies to overcome recent challenges, such as a network attack involving spoofed GPUs. Shadid reassured the community that io.net’s infrastructure is now secure and operational.

In his parting message, Shadid expressed profound gratitude to the io.net community and emphasized that stepping down was a carefully considered decision for the project's benefit. Green, taking the helm, is committed to advancing io.net's mission of building the world’s largest decentralized AI compute network, ensuring an open and accessible platform for all.