IONET (IO) Selected as Binance’s 55th Launchpool Project

Exciting news from Binance as they unveil their latest project on Binance Launchpool – introducing IO.NET (IO), a decentralized AI computing and cloud platform. This innovative platform is poised to revolutionize the AI and cloud computing industries, offering decentralized solutions that enhance efficiency and accessibility.

Trading for IO tokens will kick off on June 11 at 12:00 (UTC) on Binance, marking a significant milestone for IO.NET. This launch underscores Binance’s ongoing support for groundbreaking projects in the cryptocurrency realm.

IO Token Farming and Mining Details

Binance users can stake their BNB and FDUSD tokens in separate pools to farm IO tokens over a four-day period starting from June 7 at 00:00 (UTC). This initiative aims to provide users early access to IO tokens and incentivize engagement within the IO.NET ecosystem.

The website will provide detailed instructions and timelines for mining activities within five hours of this announcement. The initial supply of IO.NET (IO) consists of 500,000,000 tokens, with a maximum supply capped at 800,000,000 tokens. Initially, 19% of the total supply, equating to 95,000,000 IO tokens, will be in circulation. Mining activity will involve 20,000,000 IO tokens, which represents 4% of the initial supply.

Individual hourly mining limits are set at 17,708.33 IO for the BNB pool and 3,125 IO for the FDUSD pool. The distribution of tokens across the pools specifies that the BNB pool can mine 85% (17,000,000 IOs) and the FDUSD pool can mine 15% (3,000,000 IOs) of the total available tokens.

BNB Market Update and Network Activity

Alongside the IO.NET launch, Binance Coin (BNB) has surged past $700, reaching an all-time high. This surge reflects increased on-chain activity and network usage. Data from BscScan shows a 56% rise in BEP-20 token transfers, from 6.62 million on May 19 to 10.29 million by June 3, signaling robust daily transfer growth.

BNB is currently priced at $697.88 with a 24-hour trading volume of $1.2 billion. Despite a slight 0.82% dip in the last 24 hours, BNB has experienced a notable 17.14% price surge over the past week.

With a circulating supply of 150 million BNB and a market cap of $107.3 billion, Binance’s strong market position and the growing user and investor trust in the BNB ecosystem are evident.

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