As an experienced analyst, I am thrilled about Binance’s latest announcement of IO.NET (IO), a decentralized artificial intelligence computing and cloud platform, joining their Launchpool project. This innovative platform is poised to revolutionize the AI and cloud computing sectors with its decentralized solutions that promise enhanced efficiency and accessibility.
Expert: Binance makes an exciting revelation, introducing its 55th project on Binance Launchpool: IO.NET (IO), a revolutionary decentralized artificial intelligence computing and cloud platform. This groundbreaking platform aims to make substantial progress in the AI and cloud computing industries by providing decentralized options that boost efficiency and accessibility.
Starting on June 11, 12:00 (UTC), IO.NET’s IO token will become available for trading on Binance, making it the first exchange to support this innovative project. This listing signifies a momentous achievement for IO.NET and underscores Binance’s dedication to fostering cutting-edge cryptocurrency initiatives.
Farming and Mining Details for IO Tokens
Starting on June 7 at 0:00 UTC, Binance users can deposit their BNB and FDUSD for staking into distinct pools to earn IO tokens through a farming process that lasts for four consecutive days. This initiative offers early IO token access to participants while motivating engagement within the IO.NET platform.
The website will reportedly undergo an update within the next five hours following this announcement, offering comprehensive guidelines and schedules for initiating mining operations. The pre-set IO.NET (IO) token inventory amounts to 500 million tokens, with a ceiling of 800 million tokens. Initially, 95 million IO tokens (19% of the initial allotment) will be in circulation. A total of 20 million IO tokens, equivalent to 4% of the initial supply, is earmarked for mining activities.
As a researcher examining the mining configuration, I’ve discovered that hourly production limits for BNB and FDUSD mining pools are set at 17,708.33 IO and 3,125 IO respectively. The allocation of tokens among these pools is determined with the BNB pool capable of producing a total of 17,000,000 IOs (85%), while the FDUSD pool can generate 3,000,000 IOs (15%).
BNB Market Performance and Network Activity
During the buzzing IO.NET rollout, Binance Coin (BNB) has witnessed a substantial price jump, breaking through the $700 barrier to set a new all-time high. This achievement is a testament to heightened on-chain activity and escalating network utilization. According to BscScan data, there has been a remarkable rise in BEP-20 token transfers, which climbed from 6.62 million on May 19th to 10.29 million by June 3rd, representing a strong 56% upswing in daily transfer volumes.
The increasing value and usage of the BNB network are reflected in this upward trend. At present, the BNB token is valued at $697.88, boasting a trading volume of $1.2 billion over the last 24 hours. Although there was a minimal decrease of 0.82% in the previous day, BNB experienced a significant price surge of 17.14% during the past week.
Having a circulating supply of 150 million BNB coins, Binance Coin currently boasts a market capitalization of over $107 billion. This impressive figure underlines Binance’s robust presence in the crypto market and underscores the growing trust and belief among users and investors in the BNB platform.
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2024-06-06 09:25