Binance Exchange announced today that it will launch the 55th phase of new coin mining, with the mining project being IO.NET, a decentralized artificial intelligence computing and cloud platform. The event will take place from 8:00 on June 7, 2024, to 07:59 on June 11, 2024, Taiwan time, conducting a four-day mining activity where users can stake BNB and FDUSD tokens to receive IO token rewards.
(IO.NET Launchpool Details)
IO.NET Launchpool Details:
Token Name: IO.NET (IO)
Initial Total Supply: 500,000,000 IO
Token Maximum Supply: 800,000,000 IO
Initial Circulating Supply: 95,000,000 IO (19% of the initial total token supply)
Mining Total: 20,000,000 IO, with the BNB mining pool occupying 85% (17 million tokens) and the FDUSD mining pool occupying 15% (3 million tokens)
Research Report: IO.NET (IO)
Smart Contract Details: Solana
Restrictions: KYC required
Personal Hourly Mining Cap: BNB Pool: 17,708.33 IO; FDUSD Pool: 3,125 IO
Furthermore, Binance will list IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY spot trading pairs (with seed tags) on June 11, 2024, at 20:00.
According to the announcement by Binance, IO.NET is a decentralized artificial intelligence and cloud platform that provides computational resources for machine learning by aggregating underutilized GPU resources. The platform’s native token is $IO, which serves various functions such as being used for ecosystem payments and transaction fees, staking, and governance.
IO.NET has successfully raised $40 million, with investors including Hack VC, Multicoin Capital, OKX Ventures, Animoca Brands, Foresight Ventures, and 26 other companies and individuals.
Following this news, the BNB coin on the Binance platform saw an increase in price, reaching $706.5 within 5 minutes of the announcement before dropping to $692. As of the deadline, the price has rebounded to $704, showing a 0.47% decrease in the past 24 hours.