Ahmad Shadid, the founder of decentralized physical infrastructure network (DePIN) protocol has announced his immediate resignation as CEO. Shadid's departure comes ahead of the highly anticipated token launch on Binance Launchpad, with Co-Founder Tory Green taking the reins as the new CEO. Despite previous allegations, Shadid emphasized that his resignation is aimed at allowing to move forward without distraction, focusing on growth and success.

In a heartfelt message on X, Shadid expressed his gratitude for the opportunity to lead highlighting the company's remarkable journey and achievements under his leadership. He also announced his intention to donate one million tokens from his personal holdings to the Internet of GPUs Foundation, demonstrating his commitment to the ecosystem's growth.

Tory Green, the new CEO, responded to Shadid's announcement, acknowledging his leadership and vision. Green emphasized that will continue to pursue its mission of becoming the world's largest AI compute network, making AI accessible globally. He highlighted the company's impressive milestones, including onboarding approximately 20,000 cluster-ready GPUs and serving prominent AI companies like WonderAI, Krea, and Leonardo.

Green assured stakeholders that the leadership transition has been seamless, with operations continuing uninterrupted. He promised to share more details about the changes in the coming days. Meanwhile, the token, IO, is set to debut on Binance's Launchpool on June 11, with an initial release of 95,000,000 tokens and a total supply capped at 800,000,000 tokens.

Shadid's resignation has sparked concerns about a potential token dump at launch, but he has alleviated these fears by revealing that his tokens are locked for four years. Additionally, no investor, adviser, or team member can sell their monthly vested tokens until June 2025, ensuring a stable and secure launch.

As embarks on this new chapter, the community remains optimistic about the company's future. With Tory Green at the helm is poised to continue its rapid growth and innovation, solidifying its position as a leading AI compute network.