Cryptocurrency exchange Binance has announced IO.NET (IO), a decentralized artificial intelligence (AI) computing and cloud platform, as its 55th project on Binance Launchpool. This initiative allows users to earn IO tokens by staking their Binance Coin (BNB) and First Digital USD (FDUSD) in designated pools. The farming period begins on June 7, 2024, at 03:00 Turkey time and will last for four days.
What Does Launchpool Offer?
The IO.NET website will go live approximately five hours before the Launchpool starts, offering participants detailed information about the project and how to engage. Binance will be the first to list the IO token, with trading set to commence on June 11, 2024, at 15:00 Turkey time. Binance cautions users to be wary of any offers to sell IO tokens before this official listing, as these are likely scams.
How Will IO.NET Function?
IO.NET aims to advance decentralized AI computing and cloud services. The total initial token supply is 500 million IO, with a cap of 800 million IO. Twenty million tokens, or 4% of the total supply, will be available as Launchpool rewards. The initial circulating supply at genesis will consist of 95 million IO, representing 19% of the total token supply.
Built on the Solana Blockchain, IO tokens will benefit from high transaction volumes and low costs. Participants must complete Know Your Customer (KYC) verification to stake tokens. An hourly fixed cap per user ensures fair distribution: 17,708.33 IO per hour for the BNB pool and 3,125 IO per hour for the FDUSD pool.
Key Points for Users
Users can derive concrete benefits from the following aspects:
- Earn IO tokens by staking BNB and FDUSD.
- Access detailed project information five hours before the farming starts.
- Ensure KYC verification to participate in staking.
- Be cautious of fraudulent token sale offers before the official listing date.
Following the farming period, Binance will list IO and open trading with multiple pairs, including IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY. These diverse trading options will provide users with a wide range of choices for trading IO tokens.