Binance Launchpool Features IO.NET (IO) as 55th Project

Decentralized AI computing & cloud platform IO.NET features on Binance Launchpool as the 55th project.

Robot sitting in a swimming pool on a defi network in the sky above the city.
Created by Kornelija Poderskytė from DailyCoin
  • Binance has announced its 55th Launchpool project.
  • Users can farm the project’s native utility token for a limited period.
  • Binance will list the token after farming ends.

The world’s leading crypto exchange by trade volume, Binance has announced IO.NET (IO) as its next Launchpool project after Notcoin (NOT).

Formerly known as ANTBIT, IO.NET is a decentralized network aggregating GPUs from crypto miners, data centers, and decentralized storage providers to provide nearly unlimited computing power to AI and machine learning applications.

IO.NET (IO) on Binance Launchpool

According to an announcement dated June 6, IO.NET is the 55th project on Binance Launchpool. Binance users can farm the project’s native utility token, IO, over four days by staking their BNB and FDUSD into separate pools.

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“Tokens can only be staked in one pool at a time. For example, User A cannot stake the same BNB into two different pools at the same time, but can allocate 50% of their BNB into pool A and 50% into pool B,” the announcement read.

Farming starts on June 7 and will run until June 10 at 23:59 (UTC). After that, Binance will become the first crypto exchange to list IO on June 6 at 12:00 (UTC) and open trading with the IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY trading pairs.

While the maximum token supply for IO is 800 million, the announcement said the token supply at Genesis will be 500,000,000 IO. The Launchpool token rewards will feature 4% of IO’s supply at Genesis (20 million).

Besides trading, users can leverage IO for various utilities on IO.NET, including payments and transaction fees within the ecosystem, staking, and participation in the governance of the IO Grants DAO. The token will launch officially with an initial circulating supply of 95,000,000 IO (19% of the total token supply at Genesis).

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Brian Danga

Brian Danga, a Kenyan crypto reporter, is dedicated to delivering breaking news and updates from the cryptocurrency world. With a background as a Web3 writer and project manager, he recognizes the importance of unbiased reporting. Holding an LLB degree from the University of Nairobi, Brian's analytical skills contribute to his accurate news reporting. His personal interests include cooking, watching documentaries, reading, and engaging in intellectual discussions.