Binance has announced the launch of its 55th project on Binance Launchpool, introducing IO.NET (IO), a sophisticated decentralized AI and cloud computing platform. This new platform is set to transform the AI and cloud industries by providing decentralized solutions that are both efficient and accessible. Binance will be the first platform to list the IO token, with trading scheduled to commence on June 11 at noon (UTC), marking a significant milestone for IO.NET and demonstrating Binance's dedication to promoting innovative ventures in the cryptocurrency realm.

Beginning June 7 at 00:00 (UTC), Binance users will have the opportunity to stake their BNB and FDUSD in separate pools to earn IO tokens over a four-day period. This farming initiative not only grants early access to IO tokens but also encourages active engagement within the IO.NET ecosystem.

A total initial supply of 500 million IO tokens will kick off IO.NET, with a cap set at 800 million tokens. Initially, 95 million IO tokens (19% of the total supply) will be in circulation. Mining activities will focus on 20 million IO tokens, representing 4% of the initial supply. Users will have personal hourly mining limits of 17,708.33 IO for the BNB pool and 3,125 IO for the FDUSD pool. The BNB pool is allocated to mine 17 million IO tokens (85%), while the FDUSD pool can mine 3 million IO tokens (15%).

Excitement surrounds IO.NET as Binance Coin (BNB) surpasses $700, reaching an all-time high. Currently priced at $707.89, BNB boasts a 24-hour trading volume of $2.75 billion. Despite a modest 1.48% increase in the last 24 hours, BNB has soared by 19.74% over the past week. With a circulating supply of 150 million BNB, it commands a market cap of $104.06 billion, showcasing Binance's robust presence in the market and bolstering user confidence.