Binance, a prominent worldwide cryptocurrency exchange, has officially revealed the inclusion of IO.NET (IO), a decentralized AI computing and cloud platform, in its Binance Launchpool. This announcement marks the 55th project on the platform, enabling users to stake BNB and FDUSD to earn IO tokens. Starting on June 7, 2024, at 00:00 UTC, Binance users can stake their BNB and FDUSD in separate pools to receive IO tokens over a four-day period. This move is part of Binance’s continuous dedication to bringing 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 distributed as rewards to participants. Participants in the Launchpool must complete KYC verification to comply with Binance’s security and regulatory standards. The staking caps are set at 17,708.33 IO for the BNB pool and 3,125 IO for the FDUSD pool, calculated on an hourly basis.
Supported Pools and Rewards Distribution
The farming period is set from June 7 to June 10, 2024, with daily rewards distributed among the BNB and FDUSD pools. Users can claim these rewards directly to their spot accounts at any time during the event. After the staking period, Binance will list the IO token on June 11, 2024, at noon UTC. The trading pairs available at launch will include IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY.
The Binance BNB Vault and Locked Products will be integrated with the Launchpool, enabling users who have staked BNB in these products to participate and automatically receive new token rewards. This integration ensures that users can enjoy seamless benefits while utilizing multiple Binance services.
Participation in the Launchpool is subject to eligibility based on the user’s country or region of residence due to varying local regulations. Users from countries such as the USA, Canada, Japan, and others are excluded from farming IO tokens. Binance stresses the importance of users completing account verification and ensuring that all participants are from eligible jurisdictions to uphold compliance and security standards.