Yesterday afternoon, Binance announced the second airdrop project for BNB HODLers: @ThenaFi_. Users who use BNB to purchase fixed-term and/or flexible products on the earning platform between November 6 and November 14 will receive an airdrop allocation.
As a result, the price of $THE quickly rose from 0.2U to 1.3U in a short time, and most of the group friends, including myself, basically just took a look and then there was no further action. Ultimately, it was due to a lack of understanding of this project and a slight fear of heights regarding this surge. I didn't expect it to continue to soar after opening.
In retrospect, we found that Binance actually provided two opportunities to get in: the first time was after the official announcement, when the price of $THE briefly surged and stabilized around 1U, giving enough time to buy before Binance opened; the second time was after Binance opened, buying around 1.3U, which could quickly double.
Of course, this is all after the fact. The important thing is to seriously study this project. For reference, Thena is an automated market maker based on BNB Chain, inspired by Solidly, creating a simpler liquidity acquisition process for new and existing protocols through efficient liquidity guidance.
Unlike other VC projects that easily raise tens of millions, Thena did not have prestigious VC endorsement. Initially, it raised 1 million dollars from the community without any VC involvement, and later received a strategic investment of 600,000 dollars from Orbs Network.
This is a project that originated from the community and is deeply rooted in the community. By improving the ve(3,3) model, it has gained support from over 40 top protocols, creating a total income of 11.4 million dollars for veTHE and theNFT holders in 2023 without any VC support.
Regarding why Thena is deployed on BNB Chain, the co-founder stated in an interview that BNB Chain has the largest active user base, and many OG-level figures believe that BNB Chain lacks excellent DeFi projects, indicating a large market space.
It has been proven that they succeeded. Thena received strategic funding from BNB Chain in August this year due to its contributions to the BNB Chain ecosystem, at that time the price of $THE was only 0.2U.
Based on the listing standards for small and medium projects previously announced by Binance, it is not difficult to find that Thena is one of the most compliant projects recently, not relying on VC endorsement to show off, nor using PUA tactics to brush data, and ultimately achieving success on Binance, which is commendable.
Lastly, I want to say that various signs indicate that Binance is really going to support BNB Chain, such as investing in the BNB Chain ecosystem project Kernel and launching $WHY and $CHEEMS contracts + $THE.
It is worth noting that CZ also tweeted about BNB Chain at this subtle time point. Is the spring of BNB Chain really coming?