The world’s largest cryptocurrency exchange, Binance, announced on June 6 the launch of the 55th project on the Binance Launchpool. The IO.NET (IO) token, a decentralized Artificial Intelligence (AI) computing and cloud platform, will be listed on the platform.
Binance is pleased to announce the 55th project on Binance Launchpool – IO.NET (IO), a decentralized AI computing and cloud platform,” he announced.
According to its official statement, Binance will list the IO token at 12:00 on 11/06/2024 (UTC) and will open trading with IO/BTC, IO/USDT, IO/BNB, IO/FDUSD trading pairs and IO/TRY.
Introducing @ionet $IO on #Binance Launchpool!
Farm $IO by staking #BNB and $FDUSD.
➡️ https://t.co/uZ3DT31Ag2 pic.twitter.com/icww9Ux62G
— Binance (@binance) June 6, 2024
Binance users will be able to stake their BNB and FDUSD tokens in separate pools to farm IO tokens over four days, with farming starting from 6/7/2024 at 00:00 (UTC), the exchange said.
Binance provided some details of the IO launch pool: Total token supply on Genesis: 500,000,000 IO; Maximum token supply: 800,000,000 IO; Launchpool Token Rewards: 20,000,000 IO (4% of total token supply on Genesis); Initial Circulating Supply: 95,000,000 IO (19% of the total token supply on Genesis); Maximum hourly limit per user: 17,708.33 IO in BNB pool. 3,125 IO in the FDUSD pool.
In this article, we will discuss:
What is io.net?
io.net is a decentralized AI computing and cloud platform. By aggregating GPU supply from underutilized sources, io.net creates a network that allows machine learning (ML) startups to access nearly unlimited computing power at a fraction of the cost of traditional cloud.
IO is io.net’s native utility token and used in the following functions: Payment currency and Staking. Additionally, the IO token allows holders to participate in the governance of the IO Grants DAO by proposing, voting on, and implementing grant proposals that guide the funding allocation and strategic direction of the Internet of GPUs Foundation.
io.net CEO Reveals Challenges Against “Sybil Attacks”
In April, Ahmad Shadid, founder and CEO of io.net, went public through a post on X detailing the recent challenges faced by the network. The central discussion revolves around efforts to mitigate so-called “sybil attacks,” a malicious tactic that involves creating multiple fake identities to manipulate the distribution of rewards, such as token airdrops.
According to Shadid, the io.net team faces a “cat and mouse game” with individuals trying to artificially inflate their eligibility for the highly anticipated IO token airdrop. “We move quickly and sometimes break things,” explained the CEO, describing the complexity of the problem.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/binance-launchpool-listara-token-io-net-io/
