New io.net CEO announces lockup plan for former CEO's token holdings

Tory, co-founder and newly appointed CEO of the Solana-based decentralized physical infrastructure network (DePIN) project io.net, announced on X that the IO holdings of former CEO Ahmad Shadid's tokens will be held by Ceffu, Binance's custody platform. These tokens cannot be sold for one year after listing. After the 13th month post-listing, 1/36th of the tokens will be available for sale. Subsequently, the tokens will unlock and become available for sale each month over a 36-month period.