Binance has announced its 55th Launchpool project—IO.NET (IO), a decentralized artificial intelligence computing and cloud platform. The mining event will run from June 7, 2024, 08:00 UTC to June 11, 2024, 07:59 UTC, allowing users to stake BNB or FDUSD to earn IO tokens.
Key Details of IO.NET Launchpool
Here’s a breakdown of the critical information:
| Parameter | Details |
|---|---|
| Token Name | IO.NET (IO) |
| Total Initial Supply | 500,000,000 IO |
| Max Supply | 800,000,000 IO |
| Initial Circulating Supply | 95,000,000 IO (19% of total) |
| Mining Allocation | 20,000,000 IO (BNB: 85%, FDUSD: 15%) |
| KYC Requirement | Yes |
Mining Caps per Hour:
- BNB Pool: 17,708.33 IO
- FDUSD Pool: 3,125 IO
👉 Discover how to maximize your Launchpool rewards
What Is IO.NET?
IO.NET is a decentralized AI and cloud platform that aggregates underutilized GPU resources to power machine learning workflows. Unlike centralized AI infrastructures, it democratizes access to computational power through its native token, $IO.
Core Functions of $IO Token:
- Payment Currency: Facilitates transactions within the ecosystem (e.g., GPU resource trading).
- Staking: Users earn rewards by delegating $IO to nodes or running their own.
- Governance: Holders influence funding decisions via IO Grants DAO proposals.
Funding & Backers: IO.NET has raised $40 million from investors like Hack VC, Multicoin Capital, and Animoca Brands.
Market Impact: BNB Surges Past $705
Following the announcement, Binance Coin (BNB) spiked 1.3% within minutes, peaking at $706.50**. Though briefly dipping to $692, it stabilized at $704** at press time.
FAQs About IO.NET and Binance Launchpool
Q1: How do I participate in IO.NET mining?
A1: Stake BNB or FDUSD in Binance’s Launchpool during the event period.
Q2: What makes IO.NET unique?
A2: Its decentralized model leverages idle GPUs, offering cost-efficient AI computation.
Q3: When will IO be listed on Binance?
A3: Trading begins June 11, 2024, with pairs including IO/USDT and IO/BNB.
Q4: Is KYC mandatory for mining?
A4: Yes, Binance requires KYC compliance.
Q5: What’s the long-term utility of $IO?
A5: Beyond staking, it powers governance and ecosystem transactions.
Q6: Why did BNB’s price fluctuate?
A6: Initial hype drove demand, followed by profit-taking.
👉 Learn more about decentralized AI innovations
Final Notes
- No Investment Advice: This content is informational only.
- Risk Disclosure: Crypto investments carry volatility risks; conduct independent research.
### Key SEO Keywords:
1. Binance Launchpool
2. IO.NET
3. Decentralized AI
4. $IO Token
5. BNB Price
6. GPU Mining
7. Crypto Staking