Binance has announced its 55th new coin mining project—IO.NET (IO), a decentralized artificial intelligence computing and cloud platform. The mining event will run from June 7, 2024, 08:00 UTC to June 11, 2024, 07:59 UTC. Participants can stake BNB or FDUSD to earn IO token rewards.
Key Details of IO.NET Mining on Binance Launchpool
Event Overview
- Project: IO.NET (IO)
- Mining Period: 4 days (June 7–11, 2024)
- Staking Options: BNB (85% pool share) or FDUSD (15% pool share)
- Total Rewards: 20,000,000 IO tokens
Tokenomics
| Metric | Value |
|---|---|
| Initial Supply | 500,000,000 IO |
| Max Supply | 800,000,000 IO |
| Initial Circulation | 95,000,000 IO (19%) |
| Hourly Mining Cap | BNB Pool: 17,708.33 IO |
| FDUSD Pool: 3,125 IO |
What Is IO.NET?
IO.NET is a decentralized AI and cloud platform that aggregates underutilized GPU resources to provide scalable computing power for machine learning. Its native token, $IO, serves multiple purposes:
Core Functions of $IO Token
Payment Currency:
- Used for transactions within the ecosystem, such as purchasing GPU computing power.
Staking:
- Users can stake $IO to earn rewards by delegating tokens to nodes or running their own nodes.
Governance:
- Holders participate in IO Grants DAO to vote on funding proposals and strategic decisions.
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Market Impact: BNB Breaks $705
Following the announcement, Binance Coin (BNB) surged to $706.5** within minutes before stabilizing around **$704. The news highlights BNB's growing influence as it continues to outperform traditional assets.
Investment Backing
IO.NET has secured $40 million in funding from notable investors, including:
- Hack VC
- Multicoin Capital
- OKX Ventures
- Animoca Brands
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FAQ Section
1. How do I participate in IO.NET mining?
Stake BNB or FDUSD in Binance Launchpool during the event period.
2. What is the total supply of IO tokens?
The max supply is capped at 800 million IO tokens.
3. Can I trade IO tokens after the mining event?
Yes, IO/BTC, IO/USDT, and other trading pairs will be listed on June 11, 2024.
4. Is KYC required for mining?
Yes, Binance mandates KYC verification for participation.
5. What makes IO.NET unique?
It democratizes AI computing by leveraging idle GPUs globally, reducing reliance on centralized providers.
Conclusion
IO.NET's launch on Binance marks a significant step for decentralized AI infrastructure, while BNB's price action reflects strong market confidence. Stake your tokens to capitalize on this emerging opportunity.
For real-time updates, monitor Binance’s official announcements.