Binance Launchpool Introduces IO.NET (IO), Enabling Staking of BNB and FDUSD

Binance
has
announced
the
addition
of
IO.NET
(IO)
to
its
Launchpool
platform,
allowing
users
to
stake
Binance
Coin
(BNB)
and
First
Digital
USD
(FDUSD)
to
farm
IO
tokens.
This
marks
the
55th
project
to
be
featured
on
Binance
Launchpool,
according
to
Binance’s
official
announcement.

Farming
IO
Tokens

Users
can
begin
staking
their
BNB
and
FDUSD
in
separate
pools
starting
from
June
7,
2024,
at
00:00
UTC,
with
the
farming
period
lasting
four
days
until
June
10,
2024,
at
23:59
UTC.
A
total
of
20,000,000
IO
tokens,
representing
4%
of
the
total
token
supply
at
Genesis,
will
be
distributed
as
rewards
during
this
period.
The
initial
circulating
supply
of
IO
is
set
at
95,000,000
tokens,
accounting
for
19%
of
the
total
supply
at
Genesis.

Trading
and
Listing

Following
the
farming
period,
Binance
will
list
IO
tokens
on
June
11,
2024,
at
12:00
UTC.
Trading
pairs
available
will
include
IO/BTC,
IO/USDT,
IO/BNB,
IO/FDUSD,
and
IO/TRY.
Notably,
IO
will
be
tagged
with
the ‘seed
tag,’
indicating
its
high
volatility
and
risks.

Supported
Pools

Farming
rewards
will
be
calculated
hourly,
and
users
can
claim
their
rewards
at
any
time.
Each
pool’s
annual
percentage
yield
(APY)
and
total
pool
balance
will
be
updated
in
real
time.
Users
can
only
stake
tokens
in
one
pool
at
a
time
but
can
allocate
their
tokens
across
different
pools
as
desired.
Additionally,
users
can
unstake
their
funds
at
any
time
without
delay
and
switch
to
other
available
pools
immediately.

Farming
Accumulation
and
Rewards

Users
participating
in
the
Launchpool
will
accumulate
rewards
hourly,
which
will
be
updated
each
hour.
Unstaked
tokens
and
unclaimed
rewards
will
automatically
transfer
to
users’
spot
accounts
at
the
end
of
the
farming
period.
Binance
will
also
support
the
Launchpool
via
its
BNB
Vault
and
Locked
Products,
enabling
users
to
receive
rewards
automatically.

Eligibility
and
Restrictions

Users
from
certain
countries
and
regions,
including
Australia,
Canada,
Cuba,
Iran,
Japan,
the
United
States,
and
others,
will
not
be
eligible
to
participate
in
farming
IO
due
to
local
regulations
and
other
considerations.
Binance
has
stated
that
the
list
of
excluded
countries
may
be
updated
periodically.

As
a
reminder,
users
are
encouraged
to
conduct
thorough
research
and
understand
the
risks
involved
in
digital
asset
investments.
The
official
announcement
from
Binance
can
be
found

here.

Image
source:
Shutterstock

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