Impossible Cloud Network Launches $ICNT Token on Major Exchanges

Impossible Cloud Network (ICN), a decentralized cloud services provider, has launched its $ICNT token on major exchanges including Bybit, Binance, Kraken, Gate.io, and Bitget. This launch follows a significant investment round that valued the company at $470 million. The investment was led by NGP Capital, a deep tech fund known for backing companies like Xiaomi and Helium, along with other investors such as 1kx, No Limit Holdings, Protocol VC, and HV Capital, who collectively invested $34 million.

ICN stands out as the first decentralized cloud provider to match and surpass centralized hyperscalers in terms of latency, availability, and performance. The company operates a fully open, multi-service, permissionless, and composable cloud infrastructure that integrates storage, compute, and networking at scale. This infrastructure is already handling over 23,000 cloud requests per second from more than 1,000 enterprise customers, making ICN one of the largest revenue-generating decentralized physical infrastructure networks (DePINs) in the industry.

Kai Wawrzinek, the CEO and co-founder of ICN, emphasized the strategic importance of the $ICNT token. He stated that $ICNT will play a pivotal role in ICN’s ecosystem, allowing participants to earn rewards from HyperNodes. The token is used for provisioning hardware capacity and for staking to secure cloud workloads, thereby tying it to real-world infrastructure and the growing demand within ICN’s ecosystem.

ICN is capitalizing on several strong tailwinds in the cloud industry, including high demand for AI, hardware shortages, and the need for sovereign cloud solutions. These factors are driving the demand for a new foundational layer for the next generation of the internet, one that can challenge the dominance of centralized tech giants. ICN is at the forefront of this movement, pioneering a decentralized cloud network that offers a true alternative to monopolistic hyperscalers.

GLIF, a prominent player in the decentralized finance (DeFi) space, has announced the launch of liquid staking for the Impossible Cloud Network (ICN). This initiative is part of GLIF's broader vision to integrate on-chain credit with real-world infrastructure, including storage, compute, and energy networks. The launch includes liquid staking, stablecoin lending, and borrowing mechanisms designed to simplify participation and support for the network.

ICNT token holders will be able to deposit their tokens into GLIF and earn ICNT rewards passively. The ICNT token will be staked in GLIF's ICNT Staking Pool, resulting in the issuance of "stICNT" (Staked ICNT) tokens. These reward-bearing tokens are minted on the Base network, providing a seamless and efficient way for token holders to earn rewards without the complexities of traditional staking.

In addition to liquid staking, GLIF has introduced a new stablecoin pool pilot, which pooled $100,000 in USDC to fund real storage hardware and expand the Impossible Cloud Network. This financing is collateralized by hardware, opening up new avenues for on-chain credit mechanisms. This approach allows liquidity providers to crowdfund infrastructure projects such as data centers and solar farms, addressing the current hardware deficit in the age of artificial intelligence.

GLIF's broader vision involves leveraging on-chain credit to power real-world storage, compute, and energy networks. This initiative is part of a growing trend in the DeFi space, where decentralized physical infrastructure networks (DePIN) are transforming locked tokens and hardware receipts into collateral. This transformation enables hardware operators to borrow the necessary capital to grow their operations, thereby unlocking capital efficiency across various networks.

The Impossible Cloud Network is building a permissionless, open cloud network that aims to rival Big Tech giants. With resilient, high-performance decentralized cloud services, ICN is laying the foundation for a scalable, secure, and community-driven global cloud. This cloud supports a wide range of applications, including enterprise, AI, gaming, and end-user services, offering a true alternative to monopolistic hyperscalers.

The launch of liquid staking for ICN by GLIF represents a significant milestone in the evolution of DeFi and decentralized infrastructure. By simplifying participation and support for the network, GLIF is not only enhancing the value proposition for ICNT holders but also contributing to the broader vision of a decentralized, resilient, and globally distributed infrastructure network.