Binance took another revolutionary step in the cryptocurrency world and announced the synthetic dollar protocol called Ethena (ENA) as the 50th project of the Launchpool platform. This announcement marks a new investment opportunity in the cryptocurrency market and presents an exciting development for Binance users.
Ethena will provide its users with the opportunity to farm ENA tokens through staking transactions made through Binance Launchpool. One of the highlights of this project is that Binance will be the first platform to list this token. Trading of the ENA token will begin on April 2, 2024 at 11:00 (UTC) and will be possible through various trading pairs such as ENA/BTC, ENA/USDT, ENA/BNB, ENA/FDUSD and ENA/TRY.
Binance Membership:https://accounts.binance.com/register?ref=K6WQ7GLJ
When we look at the details of this innovative project, we see that the maximum token supply is 15 billion ENA and Launchpool token rewards are limited to 300 million ENA in total. This amounts to only 2% of the maximum token supply. The amount of ENA to be put into first circulation is determined as 1.425 billion ENA, that is, approximately 9.5% of the maximum supply.
Separate pools have been determined for BNB and FDUSD to be staked, and users must complete the KYC (Identity Verification) procedures to join these pools. A total of 240 million ENA rewards will be distributed in the BNB pool and 60 million ENA rewards in the FDUSD pool. This means an 80% distribution will be made to participants in the BNB pool and 20% to participants in the FDUSD pool.
The farming process will start on March 30, 2024 at 03.00 CET and will end on April 2, 2024 at 02.59 CET. During this period, a total of 100 million ENA token rewards will be distributed every day. This distribution will be made as 80 million ENA per day to those participating from the BNB pool and 20 million ENA per day to those participating from the FDUSD pool.
Stake BNB: https://launchpad.binance.com/en/launchpool/ENA_BNB
Stake FDUSD: https://launchpad.binance.com/en/launchpool/ENA_FDUSD
More information about Ethena (ENA) and detailed analysis of the project's potential will be available in a research report to be published by Binance Research within an hour of the announcement.
Ethena(ENA) Binance Research: https://www.binance.com/en/research/projects/ethena
Binance continues to offer innovative opportunities in the cryptocurrency world through its Launchpool platform, which allows cryptocurrency investors to earn new tokens. The launch of Ethena makes a significant contribution to developments in the field of decentralized finance (DeFi), opening new ways of earning for its users.
Before investing, it is important to consider that the blockchain and cryptocurrency markets involve high volatility and the risks of investing. Regarding the Ethena (ENA) token, this new opportunity from Binance creates new excitement in the market and becomes an attractive option for cryptocurrency investors.
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