Binance, a top global cryptocurrency exchange, has officially revealed the inclusion of IO.NET (IO), a decentralized AI computing and cloud platform, in its Binance Launchpool. This announcement represents the 55th project on the platform, giving users the opportunity to stake BNB and FDUSD in order to farm IO tokens. Starting from June 7, 2024 at 00:00 UTC, Binance users will be able to stake their BNB and FDUSD in separate pools to earn IO tokens over a four-day period. This move is in line with Binance’s commitment to bringing innovative projects and rewarding opportunities to its community.
IO.NET has a total genesis token supply of 500 million IO, with a maximum supply cap of 800 million IO. As part of the Launchpool, 20 million IO tokens (equivalent to 4% of the total initial supply) will be distributed as rewards to participants.
Participants in the Launchpool will need to undergo KYC verification to comply with Binance’s security and regulatory standards. The staking caps are set at 17,708.33 IO for the BNB pool and 3,125 IO for the FDUSD pool, calculated hourly.
During the farming period, which runs from June 7 to June 10, 2024, daily rewards will be distributed across the BNB and FDUSD pools. Users can claim these rewards directly to their spot accounts at any time during the event. After the staking period, Binance will list the IO token on June 11, 2024, at noon UTC. The trading pairs available at launch will include IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY.
The Binance BNB Vault and Locked Products will be integrated with the Launchpool, allowing users who have staked BNB in these products to automatically participate and receive new token rewards. This integration ensures that users can seamlessly enjoy benefits while engaging with various Binance services.
Participation in the Launchpool is subject to eligibility based on the user’s country or region of residence due to differing local regulations. Users from countries such as the USA, Canada, Japan, and others are excluded from farming IO tokens. Binance stresses the importance of users completing account verification to ensure that all participants are from eligible jurisdictions, maintaining compliance and security standards.