The announcement, made on June 6, 2024, has generated considerable buzz, as Binance is set to be the first platform to list the IO token. Trading is scheduled to commence on June 11, 2024, at 12:00 (UTC), with a variety of trading pairs available, including IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY. It’s important to note that any offers to sell this token before the official listing date are unauthorized and should be approached with caution.
IO.NET’s introduction is accompanied by an opportunity for users to farm IO tokens by staking BNB and FDUSD in separate pools. This farming period is a limited-time event, spanning from June 7 to June 10, 2024. The total token supply at genesis stands at 500 million IO, with a maximum supply cap of 800 million IO. Of this, 20 million IO tokens (4% of the total supply at genesis) are allocated as rewards for the Launchpool. The initial circulating supply is set at 95 million IO, which is 19% of the total token supply at genesis. The smart contract for IO.NET is based on the Solana blockchain, known for its speed and efficiency.
The distribution of rewards is heavily weighted towards the BNB pool, with 17 million IO (85% of the total rewards) allocated to it, while the FDUSD pool is set to receive 3 million IO (15% of the total rewards). Over the four-day farming period, a total of 5 million IO will be distributed daily, with the BNB pool receiving 4.25 million IO and the FDUSD pool receiving 750,000 IO each day. Binance will then list IO at 2024-06-11 12:00 (UTC) and open trading with IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY trading pairs. The seed tag will be applied to IO.
The potential for IO.NET to revolutionize the way we think about and utilize blockchain technology is immense, and the excitement surrounding its launch is a testament to the innovative spirit that continues to drive the crypto industry forward. IO.NET is well-positioned to capture the attention of the crypto community and establish itself as a key player in the decentralized computing arena. For more detailed information, Binance has promised a research report.
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