Binance launches the 55th launchpool project: the listing of the IONET (IO) token

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Binance recently announced IONET as its 55th launchpool project, with the IO token available for trading and listing starting today. Specifically, IONET revolutionizes AI (artificial intelligence) and cloud computing.

Let’s see all the details below. 

The IO token available for trading and listing on Binance 

As anticipated, Binance, the leading exchange of criptovalute worldwide, has unveiled its 55th Launchpool project: IONET (IO). 

Users can now farm IO, the native token of this decentralized artificial intelligence and cloud computing platform, using BNB and FDUSD.

According to the official announcement from Binance, trading of the IO token will begin on June 11, 2024, at 12:00 (UTC), with trading pairs including BTC, USDT, BNB, FDUSD, and TRY.

The farming on Binance Launchpool will last four days, offering 4% of the total IO token supply. 17 million IO tokens have been allocated for the BNB pool and 3 million for the FDUSD pool, out of a total supply of 500 million tokens.

IONET has also recently formed a partnership with Aptos Labs to create a transparent and immutable ledger of resources and creations generated by artificial intelligence. 

In fact, as already mentioned, IONET aims to transform the artificial intelligence and cloud computing sector through decentralized solutions. The IO token, defined as the “currency of computing power”, allows access to global computing resources. 

Avery Ching, co-founder and CTO of Aptos Labs, stated the following: 

“The decentralized physical infrastructures like IONET are laying the necessary foundations to make artificial intelligence products and services accessible globally.”

Additionally, Binance has also recently celebrated the milestone of 200 million users. Thus doubling its user base in just over two years.

The platform thanked its community for the support and expressed the ambition to reach 1 billion users.

Binance reaches 200 million users despite legal and regulatory challenges

As mentioned, the largest cryptocurrency exchange in the world has surpassed a new milestone, despite the legal and regulatory challenges faced. 

In a post on the social platform X, Binance thanked its community for helping to reach a global base of over 200 million users.

“Today we celebrate 200 million – and it’s all thanks to YOU! Your support is the beating heart of our journey towards a billion users.”

Binance has not only doubled the number of users compared to the population of Germany, but it is also the leading cryptocurrency exchange in terms of liquidity. This according to a report by Kaiko, a digital asset analysis company.

This ranking is based on various factors, including trading volume, market depth, and market quality.

This milestone was achieved despite several lawsuits and fines imposed by regulatory authorities in various jurisdictions. 

Recently, in fact, the Canadian anti-money laundering agency fined Binance nearly 4.4 million dollars for not registering as a foreign money services business. 

In November, however, the co-founder Changpeng Zhao resigned as CEO following accusations by the US SEC of violating federal laws.

Currently, Binance is trying to secure the release of an employee imprisoned in Nigeria, accused of contributing to the fall of the Nigerian naira. 

The new CEO, Richard Teng, stated that the exchange will commit to improving compliance to claim a larger share of the growing cryptocurrency market.