Binance Unveils Its 55th Launchpool Project: IONET (IO)

Binance Launches IO.NET (IO): Decentralized AI and Cloud Platform

Binance comes off with a thrilling announcement, unveiling its 55th project on Binance Launchpool, a decentralized artificial intelligence computing and cloud platform called IO.NET (IO). This innovative platform is set to make significant strides in the AI and cloud computing sectors, offering decentralized solutions that enhance efficiency and accessibility.

Farming and Mining Details for IO Tokens

Users of Binance will have the opportunity to stake their BNB and FDUSD into separate pools to farm IO tokens over a period of four days, starting from June 7 at 00:00 (UTC). This farming period is designed to provide users with early access to IO tokens and to incentivize participation in the IO.NET ecosystem.

• Total initial supply of IO.NET (IO): 500,000,000 tokens
• Maximum supply: 800,000,000 tokens
• Initial circulation: 95,000,000 IO tokens (19% of the initial total supply)
• Total volume available for mining: 20,000,000 IO tokens (4% of the initial total supply)
• Personal hourly mining limits:
  • BNB mining pool: 17,708.33 IO
  • FDUSD mining pool: 3,125 IO
• Distribution:
  • BNB pool: 17,000,000 IOs (85%)
  • FDUSD pool: 3,000,000 IOs (15%)

BNB Market Performance and Network Activity

Amid the excitement of the IO.NET launch, Binance Coin (BNB) has experienced a significant surge in value, surpassing the $700 mark to reach an all-time high. This milestone reflects heightened on-chain activity and increasing network usage. Data from BscScan shows a notable increase in BEP-20 token transfers, which rose from 6.62 million on May 19 to 10.29 million by June 3, indicating a robust 56% surge in daily transfers.

This uptick shows the growing utility and adoption of the BNB network. Currently, BNB is priced at $697.88, with a 24-hour trading volume of $1.2 billion. Despite a slight decline of 0.82% in the last 24 hours, BNB has seen a substantial 17.14% price increase over the past seven days.

With a circulating supply of 150 million BNB, the cryptocurrency boasts a market cap of $107.3 billion. This performance highlights Binance’s strong position in the market and the increasing confidence of users and investors in the BNB ecosystem.