When my cousin just started to question the market status of MEME, Binance launched a new round of HODLer the next day. I believe many friends sold $THE yesterday. From 0.16 to 4.18, it increased 25 times in just 48 hours😂
There may still be many people who don’t know what THENA @ThenaFi_ does and why it is so popular. As the first non-MEME new product after CZ’s return, today I will take you to learn about this BNB Chain liquidity protocol. What is special about it and how much potential does it have?
1️⃣ Project Overview
Today, when the Ethereum ecosystem is criticized for its transitional infrastructure, BNB Chain, as Binance’s own high-performance public chain, seems to have little infrastructure around it.
THENA was founded in 2022. As a liquidity protocol exclusive to BNB Chain, its emergence has filled some of the gaps well.
Thena is built on the BNB Chain and opBNB networks, and is committed to becoming a mainstream liquidity layer, providing efficient and flexible trading and liquidity solutions for users and project parties.
The innovative ve(3,3) model is adopted, which allows the protocol to incentivize liquidity providers by adjusting the distribution of $THE rewards to meet the liquidity needs of different projects.
💡ve(3,3) concept to dispel doubts
ve(3,3) is an innovative liquidity incentive model that combines the veCRV model and the (3,3) game theory incentive mechanism. It is first used in the Solidly protocol.
Voting rights & reward distribution: Users can lock $THE into veToken and obtain governance voting rights. The vote will determine the incentive distribution of the liquidity pool.
Liquidity Rewards: Liquidity providers are rewarded based on voting results, and the rewards are generated by governance tokens.
Reward loop: The rewards obtained by users can continue to be locked to form veTHE, realizing the inner loop of incentives
2️⃣ Comparison of similar products
Ethereum and Base chain also have several similar products that use the ve(3,3) model, but their market capitalizations are much higher than THENA.
Take $AERO as an example:
Aerodrome Finance / $AERO: 983.30M market cap
THENA/$THE currently has only: 256.58M market cap
There is still a gap of about 5 times in market value between the two, but AERO's daily trading volume is only 30M, while THE's daily trading volume has reached an astonishing 960M, which is 30 times that of AERO.
The activity of THENA based on BSC is much higher than that of AERO, and the project ceiling is more imaginative. Perhaps 4U is not the limit of THENA.
3️⃣ Token Economics
1. $THE Allocation model
User airdrop (25%, 12,500,000 tokens)
$THE and veTHE were airdropped to early users to incentivize community participation and support ecosystem expansion.
Protocol Airdrop (19%, 9,500,000 tokens)
Assigned to protocols willing to interact with the Thena liquidity layer to promote multi-party cooperation and build an early ecosystem.
Team Allocation (18%, 9,000,000 tokens)
Used to reward the core team's contributions and promote the long-term development of Thena.
Ecosystem Fund (25%, 12,500,000 pieces)
Used to support the construction of the ecosystem, including developer incentives, partner rewards and platform functionality expansion.
theNFT holders airdrop (9%, 4,500,000 tokens)
Distribute $THE to theNFT holders to reward them for supporting the platform and strengthen community stickiness
Initial liquidity (4%, 2,000,000 pieces)
✨ Conclusion
These days #币安学习营 I heard the news that Binance Wallet is about to be redesigned. The redesign of Binance Wallet is a piece of the puzzle, and the launch of THENA is also a piece of the puzzle. This series of actions seems to subtly convey the determination to connect its entire line of ecological products.
Binance's every move is itself a demonstration and example for the entire crypto industry. If PumpPump's guess is correct, it can be foreseen that more and more infrastructure will be developed around the "Binance ecosystem" in the future.
Today is a year of transformation for the crypto industry. If you are optimistic about crypto, then there is no reason not to be optimistic about the Binance ecosystem.
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