Binance Launchpool is a platform where Binance users can earn new token rewards by staking their existing cryptocurrencies. This innovative method allows users to farm new tokens while supporting emerging blockchain projects. Users can stake cryptocurrencies such as BNB and FDUSD.
IO.NET (IO) is a decentralized AI computing and cloud platform. By pooling GPU resources from underutilized sources, IO.NET offers machine learning (ML) startups extensive computing power at a significantly reduced cost compared to traditional cloud services.
The IO token, native to IO.NET, has several functions:
- Payment Currency: Used for payments and transaction fees within the IO.NET ecosystem, including purchasing or supplying GPU computing power and deploying GPU clusters.
- Staking: Users can help secure the network and earn rewards from idle GPUs by:
- Delegating IO tokens to a chosen node.
- Staking more IO tokens to operate their own node.
- Governance: IO token holders can participate in the governance of the IO Grants DAO by proposing, voting on, and implementing grant proposals that direct the allocation of funds and the strategic direction of the Internet of GPUs Foundation.
To farm IO tokens by staking BNB and FDUSD:
1. Open the Binance app.
2. Navigate to the Binance Launchpool.
3. Select the IO Pool.
4. Stake the desired amount of BNB and FDUSD.
5. Earn IO token rewards based on your staked amount.
Reward Distribution:
- Daily Distribution: Rewards are calculated and distributed daily based on the amount and duration of staking.
- Claiming Rewards: Accumulated rewards can be claimed at any time and will be credited to your spot wallet.
- Duration: The farming period varies for each project. Check the specific details on the Launchpool page for IO.NET (IO).
Key details:
- Users can stake BNB and FDUSD in separate pools to farm IO tokens from 2024-06-07 00:00 (UTC) for 4 days.
- Binance will list IO on 2024-06-11 12:00 (UTC) with trading pairs including IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY.
- The seed tag will be applied to IO.
More information can be found [here](https://www.binance.com/en/research/projects/ionet).