Binance, a prominent global platform for cryptocurrency exchange, has officially unveiled the inclusion of IO.NET (IO), a decentralized AI computing and cloud platform, in its Binance Launchpool. This announcement signifies the addition of the 55th project to the platform, enabling users to stake BNB and FDUSD to earn IO tokens. Beginning 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 initiative highlights Binance’s continuous commitment to providing 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. For the Launchpool, rewards will include 20 million IO tokens, equivalent to 4% of the total initial supply, distributed among participants. To participate in the Launchpool, users must 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 on an hourly basis.
The farming period is scheduled 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. Following the staking period, Binance will list the IO token on June 11, 2024, at noon UTC. 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 interacting with various Binance services.
Participation in the Launchpool is subject to eligibility based on the user’s country or region of residence due to varying local regulations. Users from countries such as the USA, Canada, Japan, and others are excluded from farming IO tokens. Binance emphasizes the importance of completing account verification to ensure all participants are from eligible jurisdictions, maintaining compliance and security standards.