Binance has announced its 55th project on Binance Launchpool IO.NET (IO), a decentralized AI computing and cloud platform.
Binance has just made an exciting announcement, revealing its 55th project on Binance Launchpool. This project is a decentralized artificial intelligence computing and cloud platform that is known as IO.NET (IO).
Through the provision of decentralized solutions that improve both efficiency and accessibility, this cutting-edge platform is poised to make significant advancements in the fields of artificial intelligence and cloud computing.
Binance, the first platform to do so, will list the IO token for trading. We plan to start trading on June 11 at 12:00 (UTC). This launch not only represents a big milestone for IO.NET, but it also exemplifies Binance’s unwavering dedication to providing support for innovative projects within the cryptocurrency industry.
Farming and Mining Details for IO Tokens
Beginning on June 7 at 00:00 (UTC), users of Binance will have the ability to farm IO tokens by staking their BNB and FDUSD into different pools. This will take place over a period of four days. Users will have early access to IO tokens during this farming period, and they will also receive an incentive to participate in the IO.NET ecosystem.
We anticipate updating the website with new information, including specific instructions and timetables for the commencement of mining activities, within five hours of this statement. The total initial supply of IO.NET (IO) is 500,000,000 tokens, with a maximum supply cap of 800,000,000 tokens.
We set the entire initial supply at 500,000,000 tokens. There will be an initial circulation of 95,000,000 IO tokens, which represents 19% of the total amount that will initially be available.
Twenty million IO tokens, representing four percent of the initial supply, are available for mining.There are personal hourly mining limitations of 17,708.33 IO for the BNB mining pool and 3,125 IO for the FDUSD mining pool. The community establishes both these limits.
The community also indicates the token distribution among the pools, with the BNB pool capable of mining a total of 17,000,000 IOs (85%) and the FDUSD pool capable of mining 3,000,000 IOs (15%). Binance Coin (BNB) has undergone a strong spike in value, topping the $700 mark to achieve an all-time high.
Binance Coin Market Performance and Network Activity
This surge has occurred against the backdrop of excitement surrounding the launch of IO.NET. This milestone is a reflection of increased blockchain activity and network utilization. There was a significant increase in the number of BEP-20 token transfers, as evidenced by the data provided by BscScan.
The number of transfers increased from 6.62 million on May 19 to 10.29 million on June 3, suggesting a solid 56% increase in daily transfers.With this increase, it is clear that the BNB network is becoming increasingly useful and popular.
At the moment, the price of BNB is $697.88, and its trading volume over the past 24 hours has reached $1.2 billion. The price of BNB has increased by a significant 17.14% over the past seven days, despite the fact that it has experienced a tiny decrease of 0.82% in the last twenty-four hours.