2024-06-06
Binance on X: "Introducing @ionet $IO on #Binance Launchpool! Farm $IO by staking #BNB and $FDUSD.
io.net creates a network that lets
machine learning (ML) startups to get access to computing power.
It aims to make significant strides in
the AI and cloud computing sectors, offering decentralized solutions that
enhance efficiency and accessibility.
IO is the native utility token of
io.net and it is SPL token on Solana.
It has utility as follow:
Currency for payment
Payments and transactions fees within
the io.net ecosystem, such as purchasing or supplying underutilized GPU
computing power, deploying GPU clusters.
Staking
Users can participate in network
security & earn share of idle GPU rewards, by either:
-Delegate staking IO tokens with a node
of their choice.
-Directly staking more IO tokens to
operate on their own node.
Governance
IO token holders can participate in the
governance of the IO Grants DAO by proposing, voting, or implementing grant
proposals.
Binance users can stake their BNB and
FDUSD into separate pools to farm IO tokens over a period of four days, starting
from June 7, 2024.
This farming period is designed to provide users with early access to IO tokens and to incentivize participation in the IO.NET ecosystem.
Genesis token supply allocation (500 million tokens)
The total initial supply of IO.NET (IO) is set at 500,000,000 tokens, with a maximum supply capped at 800,000,000 tokens.
Maximum token supply allocation (800 million tokens)
Of this, 95,000,000 IO tokens (19% of
the initial total supply) will be in initial circulation.
The total volume available for mining
is 20,000,000 IO tokens, which represents 4% of the initial total supply.
Personal hourly mining limits are set
at 17,708.33 IO for the BNB mining pool and 3,125 IO for the FDUSD mining pool.
The distribution of tokens across the
pools is also specified, with the BNB pool able to mine a total of 17,000,000
IOs (85%) and the FDUSD pool able to mine 3,000,000 IOs (15%).
Trading of IO tokens is set to start on
June 11 at 12:00 (UTC).
Farming period starting from 2024-06-07
00:00 (UTC) to 2024-06-10 23:59 (UTC).
Trade starting at 2024-06-11 12:00
(UTC).
IO Launchpool Details
Token Name: IO.NET (IO)
Total Token Supply at Genesis:
500,000,000 IO
Max Token Supply: 800,000,000 IO
Launchpool Token Rewards: 20,000,000 IO
(4% of total token supply at Genesis)
Initial Circulating Supply: 95,000,000
IO (19% of total token supply at Genesis)
Smart Contract Details: Solana
Hourly Hard Cap per User:
- 17,708.33 IO in BNB pool
- 3,125 IO in FDUSD pool
Supported Pools
-Stake BNB 17,000,000 IO in rewards
(85%).
-Stake FDUSD (3,000,000 IO in rewards
(15%).
