Binance, a prominent global cryptocurrency exchange, has officially revealed the inclusion of IO.NET (IO), a decentralized AI computing and cloud platform, on its Binance Launchpool. This milestone represents the 55th project on the platform, offering users the opportunity to stake BNB and FDUSD to earn IO tokens. Commencing on June 7, 2024, at 00:00 UTC, Binance users can participate by staking their BNB and FDUSD in separate pools to acquire IO tokens over a four-day period. This initiative is part of Binance’s continuous commitment to introducing innovative projects and rewarding prospects to its user community.
IO.NET introduces a total genesis token supply of 500 million IO, with a maximum supply cap of 800 million IO. For the Launchpool, 20 million IO tokens (equivalent to 4% of the total initial supply) will be distributed as incentives to participants. The Launchpool mandates participants to undergo KYC verification, aligning with Binance’s security and regulatory standards. Staking caps are established at 17,708.33 IO for the BNB pool and 3,125 IO for the FDUSD pool, calculated on an hourly basis.
The farming phase is slated to run from June 7 to June 10, 2024, with daily rewards spread across the BNB and FDUSD pools. Users have the flexibility to claim these rewards directly to their spot accounts at any point during the event. Following the staking duration, Binance will list the IO token on June 11, 2024, at noon UTC. The trading pairs available upon launch will include IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY.
Binance’s BNB Vault and Locked Products will seamlessly integrate with the Launchpool, enabling users who have staked BNB in these products to automatically partake and receive new token rewards. This integration ensures users benefit effortlessly while engaging with multiple Binance services.
Given the diverse local regulations, participation in the Launchpool is subject to eligibility based on the user’s country or region of residence. Notably, users from countries such as the USA, Canada, Japan, and others are excluded from farming IO tokens. Binance underscores the significance of users completing account verification to ensure all participants are from eligible jurisdictions, maintaining compliance and security standards.