What is Thena?
THE, airdropped to Binance HODLers, is the native token of the Thena project. Thena is an early DeFi project on BSC. Although Thena has comprehensive features, including cross-chain, on-chain perpetual contracts, and liquidity mining, it primarily focuses on decentralized exchanges (DEX) on-chain.
Thena product features
1. DEX limit orders
Often, on-chain trading can only be done at market prices, but Thena allows users to execute limit orders on-chain.
Users can use this tool to buy or sell assets at a specified price or better, rather than relying on the market price at execution. In a limit order, the order will only execute when the price meets the order conditions.
Thena has integrated the dLIMIT protocol supported by Orbs, which brings this order type to DeFi in a decentralized manner, ensuring limit orders are executed at optimal prices in a decentralized way.
2. Time-weighted average order
TWAP is a commonly used order type in CeFi that typically splits orders into smaller trade sizes and executes them regularly. If users want to implement a dollar-cost averaging (DCA) strategy and buy a certain token on a consistent schedule (e.g., monthly), they can use this strategy. Thus, when the order size is relatively large compared to available liquidity, or when users expect significant price fluctuations without a clear upward or downward trend, TWAP can help reduce slippage losses.
3. Cross-chain
Thena's cross-chain functionality is primarily supported by Axelar and Squid Router. Axelar is a cross-chain protocol that provides underlying protocol support for cross-chain operations. Meanwhile, Squid Router utilizes the Axelar protocol to enable efficient cross-chain transfer and asset exchange with a single click.
4. Liquidity pool
Thena offers various liquidity pools, from classic types like UniV2 AMM and Curve-like stable AMM to innovative FUSION pools and the upcoming Balancer-like 80-20 weighted pools. Users can earn fees by providing liquidity to these pools.
Token economics:
THE is Thena's native token with a total supply of 233,085,887 tokens and a circulating supply of 55,131,121 tokens. Before listing on Binance, its price was only $0.16, and now its market capitalization has surpassed $300 million, with a price reaching $4.185, an increase of 25 times!
19% of THE's initial supply will be used for protocol airdrops. 25% of the initial supply will be distributed to regular users of existing BNB chain protocols and new users joining the chain through THENA. The team and ecological fund account for 18% and 25%, respectively. This airdrop is for 21,750,000 THE, accounting for 7% of the maximum token supply, demonstrating great sincerity.
Another advantage of THE is that for holders, possessing THE allows participation in Thena's daily governance and voting on the establishment of different pools.
Currently, Binance is supporting the BSC ecosystem, with $300 million worth of THE being a great value compared to $7 billion UNI and $1.6 billion RAY.
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