Binance has announced the addition of its 55th Launchpool project: IO.NET (IO). This initiative introduces a decentralized AI computing and cloud platform to the crypto community. Participants can stake their BNB and FDUSD tokens to farm IO tokens over a specified period.
Following the farming period, Binance will officially list IO for trading. The exchange will open multiple trading pairs to provide ample liquidity and access for traders globally.
Understanding the IO Token Launch
The IO token serves as the native cryptocurrency for the IO.NET ecosystem. This platform aims to revolutionize the AI computing space by leveraging decentralized networks.
Key Token Metrics:
- Token Name: IO.NET (IO)
- Total Genesis Supply: 500,000,000 IO
- Maximum Token Supply: 800,000,000 IO
- Launchpool Rewards: 20,000,000 IO (4% of genesis supply)
- Initial Circulating Supply: 95,000,000 IO (19% of genesis supply)
- Blockchain Network: Solana
- Staking Requirement: Users must complete KYC verification.
To participate, users stake their assets in dedicated pools. Reward distribution is based on hourly snapshots of staked balances, ensuring fair and transparent allocation. 👉 Explore the official staking platform
How to Participate in the IO Launchpool
Participating in a Binance Launchpool is a straightforward process designed for user accessibility. The first step is to ensure you have a verified Binance account and hold the required tokens, BNB or FDUSD.
Step-by-Step Guide:
- Navigate to Launchpool: Access the Launchpool section on the Binance website or app.
- Select a Pool: Choose between the BNB staking pool or the FDUSD staking pool.
- Stake Your Assets: Commit your tokens to your chosen pool. You can unstake them at any time without a locking period.
- Earn Rewards: Your hourly average staked balance will be calculated, and IO tokens will be automatically distributed to your spot wallet.
It's important to note that users can only stake in one pool at a time. Binance's BNB Vault and Locked Products automatically support Launchpool, meaning users who have staked there will also earn rewards without any extra steps.
The Technology Behind IO.NET
IO.NET is not just another digital asset; it powers a innovative decentralized physical infrastructure network (DePIN). Its core mission is to address the high cost and scarcity of GPU computing power, which is critical for artificial intelligence and machine learning projects.
The platform creates a decentralized marketplace where GPU providers can monetize their idle processing power. This includes resources from independent data centers, crypto miners, and even consumer-grade graphics cards. On the demand side, AI startups and developers can access this aggregated computing power at a significantly reduced cost compared to traditional centralized cloud services.
This model promotes a more efficient and democratic allocation of global computing resources, fostering innovation in the AI sector.
Frequently Asked Questions
What is Binance Launchpool?
Binance Launchpool is a platform that allows users to stake certain cryptocurrencies, like BNB or stablecoins, to earn rewards in the form of new tokens from upcoming projects. It's a way for the crypto community to engage with and support new innovations before they are listed on the exchange.
How are IO token rewards calculated?
Rewards are calculated based on hourly snapshots of your staked balance in the pool. The system takes an average of these hourly balances to determine your share of the total pool rewards for that period. Your rewards are updated and accumulated each hour.
What is the initial circulating supply of IO?
The initial circulating supply when IO begins trading will be 95,000,000 tokens. This represents 19% of the total genesis token supply of 500,000,000 IO.
Can I participate in the Launchpool from any country?
No, participation is subject to eligibility based on your country or region of residence. Due to regulatory requirements, users from certain restricted jurisdictions will not be able to take part. Always check the official Launchpool page for the latest list of supported countries.
What is the utility of the IO token?
The IO token is the lifeblood of the IO.NET ecosystem. It is used for payments within the network, allowing users to pay for GPU computing services. It also functions as a mechanism for governance and rewarding the suppliers who provide the computational resources.
Why is decentralized AI computing important?
Centralized cloud computing providers often create bottlenecks and high costs for AI developers. A decentralized network like IO.NET offers a more scalable, cost-effective, and censorship-resistant alternative. 👉 Learn more about decentralized computing This can accelerate AI research and development by making powerful computing resources more accessible to a wider range of innovators.