Binance Unveils IO Token on Launchpool as 55th Project

By Umair Younas June 6, 2024, 8:22 am • Posted in Cryptocurrency

The well-known crypto exchange Binance has recently introduced its new project. As per the announcement, the platform has unveiled a decentralized artificial intelligence computing and cloud forum ‘IO.NET’ on its Binance Launchpool as the 55^th project. Binance is reportedly the earliest platform to launch IO (the native token of the new project).

Binance Unveils IO.NET as 55^th Project on Its Binance Launchpool

Additionally, the company clarified that any claims offering the sale of the token before its timeline would be false. In this way, the firm advised the users to exercise due diligence to guarantee their funds’ safety. The company also pointed out that IO.NET will permit the consumers to stake FDUSD and BNB tokens. According to the company, the clients can now stake the respective coins into exclusive pools.

As a result of this, the users can farm IO coins over 4 days. The crypto exchange brought to the front that it will begin farming on the 7^th of this month. The platform will subsequently list the IO token on the 11^th of June. In addition to this, the platform will also commence trading with 5 trading pairs. These trading pairs take into account IO/TRY, IO/FDUSD, IO/BNB, IO/USDT, and IO/BTC.

The Crypto Exchange Allocates 20,000,000 IO Token for Launchpool Rewards

The firm will apply the seed tag to the IO token. The cumulative supply of IO at Genesis equals 500,000,000 tokens. The platform has allocated the maximum supply of nearly 800,000,000 tokens. In other words, the max supply of IO token is 800M. Apart from that, the crypto exchange has specified almost 20,000,000 tokens for token rewards on the launchpool. The respective figure reportedly denotes the four percent of the cumulative coin supply.

Binance added that the earliest circulating supply of the coin equals up to 95,000,000 IO. This denotes approximately nineteen percent of the cumulative token supply. The crypto exchange also asserted that the users need to accomplish know-your-customer requirements.

The firm has reportedly allotted up to 17,708.33 tokens for the BNB pool as per-hour hard capitalization for each user. Moreover, in the case of the FDUSD pool, it has allotted almost 3,125 tokens. The crypto exchange will permit the consumers to amass and claim rewards straight in the spot accounts thereof.