Binance, one of the leading cryptocurrency exchanges in the world, has announced the 55th project on its Launchpool, IO.NET (IO). The Launchpool is a platform introduced by Binance to help its users discover a new token before officially being listed on the exchange. This way, project creators and crypto enthusiasts can enjoy exciting opportunities early.
Binance noted that it will be the first exchange to list the token and will begin trading on June 11, at 12:00 (UTC). Users are advised to disregard any false advertisement claiming to offer this project before the mentioned date.
IO.NET (IO) Secures Spot on Binance Launchpool
In an announcement dated June 6, Binance, the world’s largest crypto exchange by trade volume has revealed the latest project for its Launchpool. Per the announcement, IO.NET (IO), a decentralized AI computing & cloud platform, has been chosen as the 55th project on the platform. This follows its 54th project Notcoin (NOT) which was introduced on May 9.
Binancians (users of Binance) can stake their BNB and FDUSD stablecoins into separate pools to farm the token. The farming process will be done for four days and is to begin on June 7 at 00:00 (UTC). Additionally, Binance will commence trading for IO against pairs like IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY on June 11 at noon (UTC).
Moreover, IO has an early token supply of 500 million and a maximum token supply of 800 million. In addition, the Solana-based project has a Launchpool Token Rewards of 20 million IO which represents about 4% of its early token supply. It is important to note that users will be able to accumulate their rewards which are calculated hourly, and claim them to their spot account directly at any time.
Users also have the option to unstake their funds at any time if they wish to participate in any other available pool on the platform. Binance warns that users can only stake tokens in one pool at a time, meaning they cannot use the same token in two different pools at the same time. The hourly hard cap for each user is specified at 17,708.33 IO in the BNB pool and 3,125 IO in the FDUSD pool. For more information, visit the Binance announcement page.
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