Binance announces IO.NET as its 55th Launchpool project, offering AI computing power.
IO.NET partners with Aptos to create a safer, faster blockchain for AI applications.
IO.NET aims to democratize AI compute power, offering scalable GPU access via decentralized cloud computing.
Binance launched its latest Launchpool project, IO.NET (IO), a decentralized AI computing and cloud platform. This marks the 55th project on Binance Launchpool, enabling users to farm IO tokens by staking BNB and FDUSD.
Binance will list IO tokens with an initial circulating supply of 95 million IO, comprising 19% of the total initial token supply. The total token supply at genesis stands at 500 million IO, with a maximum token supply of 800 million IO. Users can stake their BNB and FDUSD in separate pools to earn IO tokens. With 17 million IO tokens allocated to the BNB pool and 3 million IO tokens allocated to the FDUSD pool, the farming period will run from June 7 to June 10, 2024.
Ahmed, the CEO of ION, announced that IO.NET aims to revolutionize the AI computing industry with the introduction of the Internet of GPUs (IOG), the world’s largest AI compute network. This network is designed to provide seamless access to GPU compute power, making it as accessible as the internet. The platform emphasizes democratized and permissionless access to AI computing resources, positioning compute power as a central currency within its ecosystem.
In a related development, IO.NET has partnered with Aptos to build a safer, faster, and more efficient blockchain for AI applications. Aptos’s infrastructure supports high transaction rates and scalability, essential for the AI computing demands that IO.NET aims to meet. This collaboration aims to enhance the technical capabilities of IO.NET, ensuring it can handle the surging demand for AI compute power.
IO.NET has secured over $40 million in Series A funding, demonstrating strong support from key investors. This funding will support the platform’s growth and development, reinforcing its mission to provide scalable and affordable AI compute power. Endorsement from tech and Web3 industry leaders further validates IO.NET’s potential to disrupt the AI computing market.
The demand for AI compute power, currently 2.5 times higher than the available supply, has highlighted a clear need for scalable solutions. Traditional cloud providers are struggling to meet this demand, which has led to the rise of decentralized cloud computing as a viable alternative. IO.NET addresses this problem by providing more GPUs at lower costs, making AI computing power more accessible and affordable.
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