TL;DR
- IO.NET (IO) is the 55th project featured on Binance Launchpool.
- Binance users will have the opportunity to earn IO tokens through farming for a limited period.
- Binance will list the IO token after the farming period ends.
Binance has announced IO.NET (IO) as its next project on Launchpool after Notcoin (NOT).
Formerly known as ANTBIT, IO.NET is a decentralized network that aggregates GPUs from diverse origins to deliver significant computing power for artificial intelligence and machine learning applications.
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— Binance (@binance) June 6, 2024
Binance users will have the opportunity to earn IO tokens over a four-day period through farming, using their BNB and FDUSD in separate pools.
One of the most notable features of this introduction is the farming period that will take place.
Starting June 7, Binance users will have the opportunity to participate in IO token farming.
This event, which will last until June 10 at 23:59 (UTC), will allow investors to earn IO by participating in pools, a common practice in the world of decentralized finance (DeFi).
Once this phase concludes, Binance will make history by becoming the first cryptocurrency exchange to list IO on June 11 at 12:00 (UTC).
This listing will mark the start of IO trading with several trading pairs, including IO/BTC, IO/USDT, IO/BNB, IO/FDUSD and IO/TRY.
Economic plans and prospects of IO.Net
Although the maximum token supply for IO is 800 million, the initial token supply at Genesis will be 500,000,000 IO.
This allocation sets the foundation for the project’s ecosystem and ensures a solid starting point for its development.
Launchpool rewards will constitute 4% of this supply, equating to 20 million tokens.
This incentivizes users to participate in the Launchpool farming activities and contributes to the distribution of IO tokens among the community.
In addition to trading, IO tokens can be utilized within the IO.NET ecosystem for various purposes.
These include payments, covering transaction fees, participation in farming activities, and contributing to the governance of the IO Grants DAO.
This multifaceted utility enhances the value proposition of IO tokens and encourages their active usage within the ecosystem.
At first, there will be an initial offering of 95,000,000 IO tokens, representing 19% of the total token supply at Genesis.
This initial distribution ensures a healthy level of liquidity and facilitates the early adoption of IO tokens by users and investors.
