TLDR
- Binance has unveiled its 55th Launchpool project, IO.NET (IO), a decentralized AI and cloud computing platform.
- IO token trading on Binance will commence on June 11, with trading pairs including IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY.
- Users can stake BNB and FDUSD from June 7 to farm IO tokens before trading starts.
- The total initial supply of IO tokens is 500,000,000, with 95,000,000 (19%) in initial circulation and 20,000,000 (4%) available for mining.
- Binance Coin (BNB) surpassed $700, reaching an all-time high, reflecting increased network usage and market activity.
Binance, the leading cryptocurrency exchange, has announced the launch of its 55th project on the Binance Launchpool platform.
This time, the spotlight is on IO.NET (IO), a decentralized artificial intelligence computing and cloud platform.
The addition of IO.NET to the Launchpool lineup marks a significant milestone for the innovative project, which aims to establish its position in the rapidly evolving AI and cloud computing sectors.
IO.NET is renowned for its decentralized solutions that prioritize efficiency and accessibility. By gaining Binance’s support, the project is poised to benefit from increased exposure and access to the exchange’s vast user base.
Binance’s decision to list the IO token highlights its commitment to supporting cutting-edge projects in the digital asset ecosystem.
Trading of the IO token on Binance is scheduled to commence on June 11 at 12:00 (UTC). The expected trading pairs include IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY.
This launch will utilize the Solana network as its smart contract platform, leveraging the capabilities of the high-performance blockchain.
In the lead-up to the listing, Binance will provide users with an opportunity to farm IO tokens by staking their BNB and FDUSD.
Introducing @ionet $IO on #Binance Launchpool!
Farm $IO by staking #BNB and $FDUSD.
➡️ https://t.co/PWftybNfxF pic.twitter.com/uGWDgDBhwj
— Binance Africa (@BinanceAfrica) June 6, 2024
This farming period will span four days, starting from June 7 at 00:00 (UTC). The farming process is designed to give users early access to IO tokens and incentivize participation in the IO.NET ecosystem.
The total initial supply of IO tokens is set at 500,000,000, with the maximum supply capped at 800,000,000 tokens. Of this initial supply, 95,000,000 IO tokens (19%) will be in circulation initially. The total volume available for mining is 20,000,000 IO tokens, representing 4% of the initial total supply.
Personal hourly mining limits have been established, with 17,708.33 IO tokens for the BNB mining pool and 3,125 IO tokens for the FDUSD mining pool.
The distribution of tokens across the pools is also specified, with the BNB pool able to mine 17,000,000 IOs (85%) and the FDUSD pool able to mine 3,000,000 IOs (15%).
The launch of IO.NET (IO) on Binance’s Launchpool platform comes amid a surge in the value of Binance Coin (BNB). The native token of the Binance ecosystem recently surpassed $700, reaching an all-time high.
This milestone reflects the heightened on-chain activity and increasing network usage on the BNB network.
Data from BscScan shows a notable 56% increase in daily BEP-20 token transfers between May 19 and June 3, indicating robust utility and adoption.
With a circulating supply of 150 million BNB and a market cap of $107.3 billion, the strong performance of BNB highlights Binance’s dominant position in the market and the growing confidence of users and investors in the BNB ecosystem.
