🚀🌟Summary of $ETHFI 🚀🌟
Certainly! Here’s a summary of the recent developments related to ETHFI, the governance token of the Ether.Fi liquid restaking protocol, as of March 18, 2024:
ETHFI Token Debut and Distribution:
- ETHFI made its debut at $4.13 after being distributed via an airdrop and to participants of a Binance Launchpad round.
- The initial circulating supply of ETHFI is 115.2 million tokens.More than $12 billion was staked on Binance Launchpad to receive 20 million tokens.
- The fully diluted value (market value if the entire supply is in circulation) of ETHFI stands at $4.13 billion.
- Over $2 billion worth of the FDUSD stablecoin and 17.3 million $BNB were staked on the Binance Launchpad.
- Launchpad stakers received an allocation of ETHFI relative to their staked amount.
-Several recently-listed tokens on Binance’s launchpad experienced price drops after release.
Token Allocation and Vesting:
- The max supply of ETHFI is capped at one billion tokens.20 million tokens were allocated to the Binance Launchpad, and 60 million tokens were set aside for “season one” of the token airdrop (which ended on March 15).
- An additional 50 million tokens will be distributed after “season two.”Investors will receive 32.5% of the token’s total supply over a two-year vesting schedule.Core contributors will receive 23.26% over three years.
- Ether.Fi’s total value locked (TVL) surged 117% in the last 30 days, with total deposits approaching $3 billion.
What Is Ether.Fi?:
- Ether.Fi is a liquid restaking protocol that allows stakers to receive a liquid restaking token (LRT) and loyalty points.
- Restaking is a strategy used by those who stake Ether ( $ETH ) and want to generate additional yield.
- The LRT can be used elsewhere on other protocols, and loyalty points can be converted into a token airdrop.
Remember that the crypto market is dynamic, and prices can fluctuate rapidly. Always stay informed and make decisions based on up-to-date information! 🚀🌟
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