Key Points
- Binance announced its 55th project on Binance Launchpool, IO.NET (IO).
- Users can farm IO by staking BNB and FDUSD.
In an official announcement, Binance has just revealed its 55th project on Binance Launchpool, IO.NET (IO). This is a decentralized AI computing and cloud platform.
The exchange revealed that the webpage is estimated to be available in 5 hours, before the Launchpool starts.
Also, users will be able to stake their BNB and FDUSD into separate pools to farm IO tokens for four days. Farming is set to start on June 7, 00:00 (UTC).
Binance will list IO on June 11, 12:00 (UTC), and open trading with the following trading pairs:
- IO/BTC
- IO/USDT
- IO/BNB
- IO/FDUSD
- IO/TRY
The Seed Tag will be applied to IO. The Seed Tag, which replaced the Binance Innovation Zone, is a tag used to classify cryptos that are usually in their initial stages of development and may not yet have a working product or established user base.
Tokens with a Seed Tag on Binance might exhibit higher volatility and investment risks when compared to other listed tokens.
IO Launchpool details
- Token Name: IO.NET (IO)
- Total Token Supply at Genesis: 500,000,000 IO tokens
- Max Token Supply: 800,000,000 IO tokens
- Launchpool Token Rewards: 20,000,000 IO (meaning 4% of the total token supply at Genesis)
- Initial Circulating Supply: 95,000,000 IO (meaning 19% of the total token supply at Genesis)
- Smart Contract: Solana
- Staking Terms: KYC required
- Hourly Hard Cap per User: 17,708.33 IO in BNB pool and 3,125 IO in FDUSD pool
What is IO.NET (IO)?
According to their official website, IO.NET is the world’s largest decentralized computing network that allows machine learning engineers to access scalable distributed clusters at a small fraction of the cost of comparable centralized services.
The team’s mission is to put together one million GPUs in a DePIN Decentralized physical infrastructure network.
Recently, IO.NET announced a collaboration with Aptos with the goal of exploring how blockchain can provide a transparent and immutable record of AI-developed assets and creations.
IO.NET deployed its generative AI product BC8 on Aptos. Future new machine learning models will generate high-quality 3D models and AAA game assets.