🚀So what actually is Binance Launchpool? or ENA FARMING? Let me explain honestly.

It is a creation of Binance where they give the chance to stake your money to the token that is going to be released. And then binance gives rewards which is that unreleased token which you can trade after releasing. But, when you are recieving rewards, during that time your money will be locked. Means you cannot use them anywhere else at that time.

Right now a token called ENA is on the board of Binance Launchpool. There you can stake your money as BNB or FDUSD. Minimum stake is 0.1 BNB or 10 FDUSD. If you stake your money as BNB, you'll have higher amount of ENA tokens. And FDUSD stake is less. You can claim your ENA tokens by getting rewards. Meanwhile you can redeem your stake and get your money back to your spot account. You can keep your money staked untill the duration ends. And after it ends, you have your money back. And this process is called FARMING.

Isn't it a huge chance to earn for free? So what's the risk?

- There is a slight risk of loss like, let's say you buy BNB for staking. Later after farming if you've to sell that BNB at lower price (if the BNB price decreases), then there you may see some loss. But also, you did get your rewards, right? So there you are going to profit for sure.

So what do you think about this? Are you going to farm on ENA Launchpool?

#ENALAUNCHPOOL #BinanceLaunchpool #ENA #Ethena! #Write2Earn‬