Binance has announced the addition of io.net (IO) token, a decentralized artificial intelligence (AI) computing network powered by Solana (SOL), to its Launchpool platform. This move marks the 55th crypto project to be supported on the platform, allowing users to deposit their coins into a pool to earn assets from new projects.

Starting on June 7th, users will have the opportunity to stake BNB and FDUSD in separate pools to farm IO tokens for four days, with IO scheduled to be listed on June 11th. io.net aims to create an enterprise-grade decentralized computing network that provides machine learning engineers with access to distributed cloud clusters at a reduced cost.

The project seeks to tackle the challenges associated with traditional cloud service providers, such as high costs, limited choices, and long waiting times to access hardware. io.net believes that compute is the “digital oil” of this generation, driving a technological revolution. Their vision is to establish IO as the currency of compute, powering a range of products and services that facilitate access to compute as a resource and an asset.

Binance will assign a seed tag to IO, indicating that the token carries higher volatility and risks compared to other assets on its platform. As always, investors are advised to conduct their due diligence before engaging in high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Remember that all transfers and trades are at your own risk, and any losses incurred are your responsibility. The Daily Hodl does not provide investment advice or recommend the buying or selling of cryptocurrencies or digital assets.