Binance, a prominent global cryptocurrency exchange, has officially declared the inclusion of IO.NET (IO), a decentralized AI computing and cloud platform, to its Binance Launchpool. This 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 can stake their BNB and FDUSD in distinct pools to acquire IO tokens over a span of four days. This endeavor is part of Binance’s continuous commitment to delivering 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, 20 million IO tokens (equivalent to 4% of the total initial supply) will be allocated as rewards to participants. Participants in the Launchpool must undergo KYC verification, complying with Binance’s stringent security and regulatory standards. The staking caps are established at 17,708.33 IO for the BNB pool and 3,125 IO for the FDUSD pool, recalculated on an hourly basis.
Supported Pools and Distribution of Rewards
The farming period is slated from June 7 to June 10, 2024, with daily rewards distributed among the BNB and FDUSD pools. Users have the liberty to claim these rewards directly to their spot accounts at any point during the event. Subsequent to the staking period, Binance will introduce the IO token on June 11, 2024, at noon UTC. The trading pairs accessible at launch will encompass 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 partake and automatically receive new token rewards. This integration guarantees that users can relish uninterrupted benefits while engaging with various Binance services.
Owing to differing local regulations, participation in the Launchpool is contingent upon eligibility based on the user’s country or region of residence. Notably, users from countries such as the USA, Canada, Japan, and others are excluded from farming IO tokens. Binance underscores the significance of users completing account verification and ensures that all participants are from eligible jurisdictions to uphold compliance and security standards.