Binance, a renowned global cryptocurrency exchange, has officially declared the inclusion of IO.NET (IO), a decentralized AI computing and cloud platform, in its Binance Launchpool. This announcement signifies the platform’s 55th project, enabling users to stake BNB and FDUSD to harvest 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 span of four days. This initiative is part of Binance’s continuous commitment to introducing innovative projects and lucrative opportunities to its user community.
IO.NET presents 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 rewards to participants. Participants in the Launchpool must undergo KYC verification, in accordance 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, recalculated hourly.
Supported Pools and Rewards Distribution
The farming period is slated from June 7 to June 10, 2024, with daily rewards allocated across the BNB and FDUSD pools. Users have the ability to 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. Trading pairs available upon launch include IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY.
The Binance BNB Vault and Locked Products will seamlessly integrate with the Launchpool, enabling users who have staked BNB in these products to participate and receive new token rewards automatically. This integration ensures users experience seamless benefits while interacting with various Binance services.
Due to differing local regulations and laws, eligibility to participate in the Launchpool is dependent on the user’s country or region of residence. Notably, users from countries such as the USA, Canada, Japan, and others are excluded from harvesting IO tokens. Binance stresses the importance of users completing account verification and ensures that all participants are from eligible jurisdictions to uphold compliance and security standards.