Binance unveils 55th Launchpool project: IO.NET (IO)
Binance unveils 55th Launchpool project: IO.NET (IO)
Binance's 55th Launchpool project, IO.NET, offers users the chance to earn IO tokens by staking BNB and FDUSD. This initiative highlights Binance's commitment to advancing decentralized solutions.
Binance has announced its 55th Launchpool project, IO.NET, a platform designed to integrate decentralized AI computing and cloud services, CoinGape informed. Starting from June 7, 2024, users can stake Binance Coin (BNB) and First Digital USD (FDUSD) to farm IO tokens. IO.NET aims to address the rising demand for decentralized AI and cloud services, positioning itself as a significant player in this innovative sector.
The IO.NET project will distribute 20 million IO tokens, representing 4% of the total initial supply of 500 million tokens. Binance has scheduled the official listing of IO on June 11, 2024, with available trading pairs including IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY.
Staking terms:
- KYC required
- Hourly cap per user: 17,708.33 IO in BNB pool and 3,125 IO in FDUSD pool
- 17,000,000 IO in rewards for BNB (85%)
- 3,000,000 IO in rewards for FDUSD (15%)
- Farming Period: June 7, 2024 00:00 (UTC) to June 10, 2024, 23:59 (UTC)
Binance’s Launchpool initiative allows users to earn new token rewards in return for staking their existing tokens, thereby providing a more inclusive and participatory investment model. The Launchpool has become a pivotal mechanism for introducing new projects and tokens to the market, fostering broader adoption and engagement.
By enabling the farming of IO tokens, Binance continues to offer its users opportunities to engage with and benefit from emerging projects. This initiative not only expands Binance's portfolio but also underscores its role in promoting the development and adoption of decentralized applications and services.
For more details on the IO.NET Launchpool, visit Binance's official announcement.
See also: Coinbase launches Smart Wallet
