Binance Launches IO.NET on its 55th Launchpool Project
Binance Launches IO.NET on its 55th Launchpool Project
Leading digital asset service provider Binance has announced the launch of its 55th Launchpool project featuring the decentralized Artificial Intelligence computing and cloud platform IO.NET (IO). This partnership marks a significant milestone for IO.NET as it aims to establish its presence in the AI and cloud computing sectors.
IO.NET is known for its decentralized solutions that offer efficiency and accessibility. Binance’s decision to list the IO token on its platform is expected to bring a new level of exposure and credibility to the project. Trading of the IO token on Binance is set to begin on June 11 at 12:00 (UTC), with expected trading pairs including IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY. The launch will utilize the Solana network as its smart contract platform.
Binance’s Launchpool program has supported numerous innovative projects in the digital asset ecosystem, including Xai (XAI), Manta (MANTA), AltLayer (ALT), Ethena (ENA), and Notcoin (NOT). The listing of IO.NET on Binance is seen as a validation for the project and is expected to boost its price upon launch.
In addition to the listing, IO.NET will also kick off farming and mining activities for users to stake their BNB and FDUSD into different pools to earn IO tokens. The farming period will start on June 7 at 00:00 (UTC) and is designed to incentivize participation in the IO.NET ecosystem. Detailed instructions and timelines for mining activities can be found on the project’s website.
IO.NET has allocated a total initial supply of 500,000,000 IO tokens, with a maximum supply cap of 800,000,000 tokens. Only 19% of the initial supply, approximately 95,000,000 IO tokens, will be released into circulation initially. The mining pool will have a total volume of 20,000,000 IO tokens, representing 4% of the initial total supply.
With hourly mining limits set for personal efforts in the BNB and FDUSD pools, users can expect to mine up to 17,708.33 IO tokens in the BNB pool and 3,125 IO tokens in the FDUSD pool. The distribution of tokens across both pools is also specified, with the BNB pool able to mine 85% of the total volume available for mining and the FDUSD pool mining the remaining 15%.
Overall, the launch of IO.NET on Binance’s Launchpool program signifies a new chapter for the project as it aims to expand its reach and offerings in the AI and cloud computing space.