iо.nеt Announces $IO Farming on Binance Launchpool and Binance Token Listing - Chainwire

06Jun

iо.nеt Announces $IO Farming on Binance Launchpool and Binance Token Listing

Singapore, Singapore, June 6th, 2024, Chainwire

Decentralized physical infrastructure network io.net has announced that its native token will launch on the world’s leading crypto exchange, Binance. The $IO token will be issued on Binance Launchpool, where users can farm it using staked BNB and FDUSD to earn an allocation.

$IO farming will commence on Binance Launchpool on June 7 for users who stake BNB or FDUSD into separate pools. The farming period will run for four days, during which 4% of the total $IO supply (20M tokens) will be available to earn. Of this total, 17M $IO has been earmarked for the BNB pool and 3M for the FDUSD pool.

Following completion of the farming period, Binance will list the $IO token on June 11 at 12:00 UTC with the following token pairs: IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY. Upon listing, 95M $IO comprising 19% of the total supply will be unlocked and available to the public.

The Binance Launchpool format provides a fair system for token distribution. It enables a large and globally diverse community of users to participate, which is integral to decentralizing projects by ensuring that token ownership is distributed.

$IO has a fixed supply of 800M, 300M of which will be emitted gradually for suppliers and stakers who contribute to io.net’s decentralized network for AI compute. Rewards will be distributed over a period of 20 years with a disinflationary model beginning at 8% in the first year and decreasing gradually until the 800M cap is reached.

The $IO token is also used to govern the network, empowering token-holders to make decisions that will benefit the protocol and its key stakeholders. In partnership with Binance Launchpool, io.net aims to increase distribution of $IO to a larger community to drive decentralization for the network.

About io.net

io.net is a decentralized physical infrastructure network (DePIN) that deploys and manages on-demand decentralized GPU Clusters from geo-distributed sources. The company democratizes access to GPU compute capacity while reducing costs, expediting lead times, and expanding choices for businesses and developers.