Stake BNB and FDUSD to Farm IO Tokens on Binance Launchpool
Binance has recently added IO.NET (IO) to its Launchpool platform, enabling users to stake Binance Coin (BNB) and First Digital USD (FDUSD) to earn IO tokens. This new addition marks the 55th project on Binance Launchpool, providing more opportunities for crypto enthusiasts to participate in token farming.
Farming IO Tokens
Starting from June 7, 2024, at 00:00 UTC, users can stake their BNB and FDUSD in separate pools for a four-day farming period until June 10, 2024, at 23:59 UTC. During this time, a total of 20,000,000 IO tokens, representing 4% of the total token supply at Genesis, will be distributed as rewards. The initial circulating supply of IO is set at 95,000,000 tokens, which accounts for 19% of the total supply at Genesis.
Trading and Listing
After the farming period ends, Binance will list IO tokens on June 11, 2024, at 12:00 UTC. Traders can access IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY trading pairs. It’s important to note that IO will be labeled with the ‘seed tag,’ indicating its high volatility and associated risks.
Supported Pools
Users can claim their farming rewards hourly and switch between pools as needed. The annual percentage yield (APY) and total pool balance for each pool will be updated in real time. While users can only stake tokens in one pool at a time, they are free to allocate their tokens across multiple pools for flexibility. Additionally, users have the option to unstake their funds at any time without any delays.
Farming Accumulation and Rewards
Participants in the Launchpool will earn rewards hourly, with updates provided each hour. At the end of the farming period, unstaked tokens and unclaimed rewards will automatically transfer to users’ spot accounts. Binance will also integrate the Launchpool with its BNB Vault and Locked Products to automate reward distribution for users.
Eligibility and Restrictions
Due to regulatory constraints and other factors, users from certain countries such as Australia, Canada, Cuba, Iran, Japan, and the United States will not be eligible to participate in the IO farming process. Binance may update the list of excluded countries periodically to align with local regulations.
It is essential for users to conduct thorough research and comprehend the risks associated with digital asset investments before participating in any farming activities. For more detailed information, users can refer to the official announcement by Binance here.
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Hot Take: Diversify Your Crypto Portfolio with IO Tokens on Binance Launchpool
By staking BNB and FDUSD to farm IO tokens on Binance Launchpool, you can expand your crypto portfolio and earn rewards in a dynamic market environment. Take advantage of this opportunity to participate in token farming and explore new investment avenues with IO tokens on Binance. Stay informed, manage your risks wisely, and seize the potential benefits of engaging in the crypto space through Binance Launchpool!
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