Upbit has announced the listing of io.net (IO) on its KRW market, with trading scheduled to begin on May 29 at 18:30. The token will run on the Solana network, and deposits will only be supported through the approved IO-Solana contract address.
IO is a decentralized computing project focused on providing GPU power for artificial intelligence and machine learning work. The token will be used within the network for payments, staking, and rewards.
io.net is built to support AI development by offering distributed computing power for heavy workloads like model training and inference. The project uses blockchain system to coordinate resources and reward participants who contribute computing capacity. It is designed to reduce reliance on centralized cloud services while lowering costs for AI developers
The platform pools over one million GPUs and allows users to access computing power without relying on traditional centralized cloud providers.
The IO token is used to pay for services on the network and reward users who provide computing power.
How will trading work on Upbit?
Upbit will apply temporary trading limits after listing begins. For the first five minutes, buy orders will be restricted. Sell orders below 10% of the previous closing price will also be limited during the same period.
For about two hours after trading starts, only limit orders will be allowed. Other order types will be restricted to reduce volatility at launch. The previous closing price of IO was 244 KRW.
What do users need to know about deposits and risk?
Upbit will only support IO deposits through the Solana network. Transfers from unsupported exchanges or incorrect networks may not be processed and could take time to refund.
Users are also required to verify wallet ownership before deposits are accepted.
The exchange warned that cryptocurrency trading carries high risk, and users are fully responsible for any investment decisions or losses
Similarly, Upbit listed Internet Computer (ICP) with new trading pairs against the Korean won, triggering a sharp rally that pushed the token more than 20% higher within hours of the announcement.
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