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 announcement signifies the introduction of the platform’s 55th project, enabling users to stake BNB and FDUSD to yield IO tokens. Commencing on June 7, 2024, at 00:00 UTC, Binance users have the opportunity to stake their BNB and FDUSD in separate pools to earn IO tokens over a four-day period. This initiative aligns with Binance’s continuous commitment to offering innovative projects and lucrative opportunities to its user base.
IO.NET introduces a total genesis token supply of 500 million IO, with a maximum supply cap set at 800 million IO. For 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 must complete KYC verification, in line with Binance’s security and regulatory compliance standards. Staking caps are set at 17,708.33 IO for the BNB pool and 3,125 IO for the FDUSD pool, calculated on an hourly basis.
Supported Pools and Rewards Distribution
The farming period is set to run from June 7 to June 10, 2024, with daily rewards distributed among the BNB and FDUSD pools. Users have the option to claim these rewards directly to their spot accounts at any time during the event. Following 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, enabling users who have staked BNB in these products to participate and automatically receive new token rewards. This integration ensures that users can seamlessly enjoy benefits while utilizing multiple Binance services.
Due to varying local regulations, participation in the Launchpool is subject to eligibility based on the participant’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 importance of users completing account verification and ensuring that all participants are from eligible jurisdictions to uphold compliance and security standards.