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Binance announces IONET as its 55th Launchpool Project
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Binance announces IONET as its 55th Launchpool Project

2024-06-06 by Ndaman Olayinka 4 minutes read
Binance announces IONET as its 55th Launchpool Project

Binance, the world's largest cryptocurrency exchange, has announced IONET (IO), a decentralized platform for artificial intelligence (AI) computing and cloud computing, as its 55th project on Binance launchpool.

IO is backed by early-stage venture capital firm MH Ventures, which offers decentralized solutions that improve accessibility and efficiency and is ready to make major advancements in the AI and cloud computing fields.

Trading of the IO token is scheduled to start on June 11 at 12:00 (UTC), with Binance being the first platform to list IO tokens, which are built on the Solana Blockchain, which is best known for having a high transaction volume and low transaction fees. Binance launchpool will launch five hours before the IO.NET website, which describes the staking process and project features. 

Users can start collecting IO tokens at 00:00 (UTC) on June 7 and have the opportunity to do so for four days by staking their BNB and FDUSD in different pools. The purpose of this farming period is to encourage user participation in the IO.NET ecosystem by giving users early access to IO tokens. The following pairs, including IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY, can be traded on the platform after the farming period.

IO.NET (IO) has an initial supply cap of 500,000,000 tokens and a maximum supply of 800,000,000 tokens. Initially, 95,000,000 IO tokens (19% of the total supply) will be in circulation, while 20,000,000 IO tokens (4% of the initial total supply) are available for mining in total. The FDUSD pool can mine 3,000,000 IOs (15%) and the BNB pool can mine a total of 17,000,000 IOs (85%), while the BNB mining pool's personal hourly mining limit is 17,708.33 IO, while the FDUSD mining pool is 3,125 IO.

Binance has continued to show its continued commitment to advancing innovative projects in the cryptocurrency space with the launch of IO.NET. 

Disclaimer: This information should not be considered financial advice by any means. Please do your own research before making any investment decisions. The views in the articles are personal opinions only. Whale Insider is not responsible for any financial losses incurred.