Singapore, Singapore, June 6, 2024, Chainwire
io.net, a decentralized physical infrastructure network, announced that its own token will be launched on Binance, the world’s leading cryptocurrency exchange. $IO tokens will be issued on Binance Launchpool, where users can earn allocations by farming tokens using staked BNB and FDUSD.
$IO farming will begin on Binance Launchpool on June 7 for users staking BNB or FDUSD into separate pools. The farming period lasts 4 days, during which you can earn 4% of the total $IO supply (20 million tokens). Of this total, $17 million IO was allocated to the BNB pool and $3 million was allocated to the FDUSD pool.
After the farming period is completed, Binance will list the $IO token along with the IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY token pairs on June 11th at 12:00 UTC. Upon listing, $95 million IO, equivalent to 19% of total supply, will be unlocked and made available to the public.
The Binance Launchpool format provides a fair system for token distribution. This allows for the participation of a large, globally diverse community of users, which is essential for decentralized projects by ensuring token ownership is decentralized.
$IO has a fixed supply of 800 million, of which 300 million will be released gradually for suppliers and stake holders who contribute to io.net’s decentralized network for AI computing. Rewards are distributed over 20 years using an anti-inflation model starting at 8% in the first year and gradually decreasing until the 800 million cap is reached.
The $IO token will also be used to govern the network, allowing token holders to make decisions that benefit the protocol and its key stakeholders. Through its partnership with Binance Launchpool, io.net aims to drive decentralization of the network by increasing the distribution of $IO to the larger community.
Introduction to io.net
io.net is a Decentralized Physical Infrastructure Network (DePIN) that deploys and manages on-demand distributed GPU clusters from geographically distributed sources. The company democratizes access to GPU computing capacity while reducing costs, shortening lead times, and expanding choice for enterprises and developers.
website | document | Twitter | discord | Telegram | linkedin
contact
Dan Edelstein
(email protected)