Cryptocurrency exchange Binance has revealed that IO.NET (IO), an AI computing and cloud platform, has been added as the 55th project on Binance Launchpool. This initiative allows participants to earn IO tokens through staking Binance Coin (BNB) and First Digital USD (FDUSD) in specific pools. The staking activity will start on June 7, 2024, at 03:00 Turkey time and will run for four days.

Introduction to Launchpool

Approximately five hours before the Launchpool kicks off, the IO.NET website will be accessible, providing comprehensive information about the project and instructions for engagement. Binance is set to be the initial exchange to list the IO token with trading set to begin on June 11, 2024, at 15:00 Turkey time. Users are advised to exercise caution against offers attempting to sell IO tokens prior to the official listing date to avoid falling victim to scams.

Functionality of IO.NET

IO.NET strives to enhance decentralized AI computing and cloud services. The initial token supply stands at 500 million IO, capped at 800 million IO. A fraction of the total supply, specifically 20 million tokens or 4%, will be designated as Launchpool rewards. At genesis, the circulating supply will consist of 95 million IO, representing 19% of the total token supply.

Operating on the Solana Blockchain, IO tokens will benefit from high transaction throughput and cost efficiency. Users must undergo Know Your Customer (KYC) verification before they can stake their tokens. To ensure equitable distribution, there is an hourly capped limit per user: 17,708.33 IO per hour for the BNB pool and 3,125 IO per hour for the FDUSD pool.

Key Takeaways for Participants

Participants stand to gain the following benefits:

• Acquire IO tokens by staking BNB and FDUSD
• Access project details five hours before the staking commencement
• Complete KYC verification for staking participation
• Exercise caution regarding unofficial token sale offers before the official listing date

Upon the conclusion of the staking period, Binance will list IO for trading, offering various trading pairs such as IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY. This wide selection of trading pairs will provide users with ample choices for trading IO tokens.