Hassan Maishera
Binance, the world’s leading cryptocurrency exchange by daily trading volume, announced on Thursday, June 6th, that IO.NET (IO) will launch on Binance Launchpool.
According to its blog post, Binance said it would be the first platform to list the token, with trading of IO expected to commence at 2024-06-11 12:00 (UTC).
is a decentralized physical infrastructure network (DePIN) that deploys and manages on-demand, decentralized GPU clusters from geo-distributed sources. Hundreds of thousands of GPUs are accessible today in IO Network, and this Internet of GPUs is specifically architected for low latency, high processing demand use cases like AI/ML ops and cloud gaming.
Binance said its users will be able to stake their BNB and FDUSD into separate pools to farm IO tokens over four days, with farming starting from 2024-06-07 00:00 (UTC). the crypto exchange will then list IO at 2024-06-11 12:00 (UTC) and open trading with IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY trading pairs.
20M $IO (4% of the total token supply) will be offered on Launchpool. Of this amount, 17M $IO in rewards (85%) will be offered to $BNB stakers and 3M $IO (15%) to $FDUSD
This latest development comes after the project raised $30 million in a Series A funding round. IO.NET has also been expanding its position within the Web3 ecosystem. Two weeks ago, IO.NET partnered with Synesis One, the first Train2Earn platform on Solana. The partnership leverages IO’s advanced decentralized compute network to power the training of ML models for Synesis One's enterprise clients, facilitating more efficient and accessible AI model development.
It has also partnered with other companies within the Web3 ecosystem including Aethir, NetMind.AI, Ritual, Allora, and Filecoin.
