Binance, a prominent global cryptocurrency exchange, has officially introduced IO.NET (IO), a decentralized AI computing and cloud platform, to its Binance Launchpool. This move represents the platform’s 55th project, enabling users to stake BNB and FDUSD to earn IO tokens. Beginning on June 7, 2024, at 00:00 UTC, Binance customers can stake their BNB and FDUSD in separate pools to acquire IO tokens during a four-day period. This initiative is part of Binance’s continuous commitment to bringing innovative projects and rewarding opportunities to its user community.
IO.NET has 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 rewarded to participants.
Participants in the Launchpool must undergo KYC verification, adhering to Binance’s security and regulatory standards. 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 Reward Distribution
The farming period is set to run from June 7 to June 10, 2024, with daily rewards distributed across the BNB and FDUSD pools. Users have the flexibility to claim these rewards directly to their spot accounts at any time during the event. Following the staking period, Binance will list the IO token on June 11, 2024, at noon UTC. 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 automatically participate and receive new token rewards. This integration ensures users can seamlessly enjoy benefits while utilizing multiple Binance services.
Due to varying local regulations, participation in the Launchpool is subject to 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 stresses the importance of users completing account verification to ensure all participants are from eligible jurisdictions, maintaining compliance and security standards.