- Binance has stirred the crypto market with the announcement of its 55th Launchpool project: IO.NET (IO).
- This decentralized AI computing and cloud platform aims to make significant strides in the AI and cloud computing sectors.
- Offering decentralized solutions that enhance efficiency and accessibility, IO.NET is set to debut on Binance Launchpool.
Binance announces the introduction of IO.NET (IO), the 55th project on its Launchpool platform, set to revolutionize the AI and cloud computing sectors.
Binance’s 55th Launchpool Project Goes Live: Listing on June 11
The cryptocurrency market is abuzz with excitement as Binance announces IO.NET (IO) as its 55th Launchpool project. This decentralized AI computing and cloud platform is poised to make transformative contributions to AI and cloud computing. Users will have their first opportunity to engage with IO.NET through Binance Launchpool, showcasing the platform’s innovation in providing decentralized solutions that enhance operational efficiency and accessibility.
Binance will be the first platform to list the IO token. Trading activities are slated to commence on June 11, 2024, at 15:00 Turkish time. This launch not only marks a significant milestone for IO.NET but also underscores Binance’s commitment to supporting groundbreaking projects within the cryptocurrency ecosystem.
Farming Details for IO Token
Starting from June 7, 2024, at 03:00 Turkish time, Binance users will have the opportunity to stake their BNB and FDUSD tokens into separate pools to mine IO tokens over a four-day period. This mining window is designed to provide users with early access to IO tokens and encourage participation in the IO.NET ecosystem.
Shortly after the announcement, the platform’s website is expected to be updated within five hours to provide detailed instructions and a timeline for the commencement of mining activities. The total and maximum supply of IO.NET tokens are set at 500,000,000 and 800,000,000 tokens respectively, with 95,000,000 IO tokens (19% of the total supply) initially in circulation. The total tokens allocated for mining are 20,000,000 IO, representing 4% of the total supply.
Hourly mining limits have been established, with the BNB pool set at 17.708,33 IO per hour and the FDUSD pool at 3,125 IO per hour. The distribution of tokens between pools is predetermined: the BNB pool will mine a total of 17,000,000 IO (85%) while the FDUSD pool will mine 3,000,000 IO (15%).
Performance of BNB and Network Activity
Amid the IO.NET launch excitement, Binance Coin (BNB) has experienced a significant price increase, surpassing $700 to reach an all-time high. This milestone indicates heightened on-chain activity and increased network utilization. According to data from BscScan, daily BEP-20 token transfers have surged from 6.62 million on May 19 to 10.29 million by June 3, marking a robust 56% increase.
This uptick signals growing utility and adoption of the BNB network. Currently, BNB is trading at $697.88 with a 24-hour trading volume of $1.2 billion. Despite a slight dip of 0.82% in the last 24 hours, BNB has seen a 17.14% increase over the past week. With a circulating supply of 150 million BNB, the cryptocurrency boasts a market capitalization of $107.3 billion, demonstrating Binance’s formidable market presence.
Conclusion
In conclusion, Binance’s unveiling of IO.NET as its 55th Launchpool project represents a notable advancement in the AI and cloud computing industries. By offering decentralized solutions that boost efficiency and accessibility, IO.NET exemplifies the innovative potential of blockchain technology. The upcoming launch and associated farming details reflect Binance’s dedication to fostering pioneering projects within the crypto space. As a result, the market can anticipate significant developments from IO.NET and continued strong performance from Binance Coin.
