06 Jun

Binance, a prominent digital asset service provider, has introduced its 55th Launchpool project, highlighting the decentralized Artificial Intelligence computing and cloud platform IO.NET (IO). 

This launch signifies a significant step forward for IO, emphasizing its dedication to solidifying its presence within the AI and cloud computing industries. The anticipated trading pairs for IO include IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY, with the Solana network serving as the platform for its smart contracts.

IO.NET Joining Ethena, Notcoin, And Other Coins On Binance

The decentralized solutions that IO.NET provides, combined with its efficiency and accessibility, are what make it widely known.

Attracting Binance's interest as a cutting-edge hub is expected to cause the IO token to change course. The cryptocurrency exchange intends to become the first venue to list the IO token. The opening of IO trading on Binance is set for June 11 at 12:00 (UTC).

The trade pairs IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY are anticipated. The Solana network would serve as the launch's smart contract platform.

Binance's dedication to fostering originality and creativity within the digital asset ecosystem is demonstrated by this Launchpool listing. Through its Launchpool initiative, the exchange has provided funding to over 10 projects since the start of 2024. Xai (XAI), Manta (MANTA), Ethena (ENA), AltLayer (ALT), and Notcoin (NOT), the most recent of them prior to IO.NET, are a few of them.

The listing of a cryptocurrency on Binance is frequently regarded as significant validation. IO.NET, an exchange with millions of users, is poised to gain from exposure and this committed community. Its price is also anticipated to increase upon listing from the outset.

IO Mining and Farming to Get Started in earnest 

As with previous Launchpool projects, the farming of IO tokens will commence promptly, allowing Binancians to stake their BNB and FDUSD in various pools to earn IO tokens. This farming period will last approximately four days, starting from June 7 at 00:00 (UTC), aiming to provide early access to IO tokens and encourage participation in the IO.NET ecosystem.

Detailed instructions and timelines for mining activities can be found on the project's website.

The project has allocated an initial supply of 500,000,000 IO tokens, with a maximum supply capped at 800,000,000 tokens. 

Initially, only 19% of the initial supply, roughly 95,000,000 IO tokens, will be released into circulation. For mining purposes, 20,000,000 IO tokens, representing 4% of the initial total supply, will be available.

Hourly mining limits for individual contributions are set at 17,708.33 IO for the BNB mining pool and 3,125 IO for the FDUSD mining pool. The distribution of tokens across both pools is also specified, with the BNB pool capable of mining up to 17,000,000 IOs (85% of the total available for mining), while the FDUSD pool can mine 3,000,000 IOs (15%).

June 2024, Cryptoniteuae

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