Binance, a prominent global cryptocurrency exchange, has officially revealed the inclusion of IO.NET (IO), a decentralized AI computing and cloud platform, in its Binance Launchpool. This development represents the 55th project on the platform, enabling users to stake BNB and FDUSD to earn 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 acquire IO tokens over a four-day period. This move is part of Binance’s continuous commitment to bringing innovative projects and lucrative opportunities 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. 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 must undergo KYC verification, following Binance’s stringent security and regulatory compliance protocols. 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 Reward Distribution
The farming period is set to run from June 7 to June 10, 2024, with daily rewards distributed across the BNB and FDUSD pools. Users can claim these rewards directly to their spot accounts at any time during the event. Post the staking period, Binance will list the IO token on June 11, 2024, at noon UTC. The trading pairs available at launch include IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY.
The Binance BNB Vault and Locked Products will be seamlessly integrated with the Launchpool, enabling users who have staked BNB in these products to automatically participate and receive new token rewards. This integration ensures that users can enjoy uninterrupted benefits while engaging with various Binance services.
Due to differing local regulations and laws, eligibility to participate in the Launchpool is contingent 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 stresses the importance of users completing account verification and ensuring that all participants are from eligible jurisdictions to uphold compliance and security standards.