ššSummary of $ETHFI šš
Certainly! Hereās a summary of the recent developments related to ETHFI, the governance token of theĀ Ether.FiĀ liquid restaking protocol, as ofĀ March 18, 2024:
ETHFI Token Debut and Distribution:
- ETHFI made its debut atĀ $4.13Ā after being distributed via an airdrop and to participants of aĀ Binance Launchpad round.
- The initial circulating supply of ETHFI isĀ 115.2 million tokens.More thanĀ $12 billionĀ was staked on Binance Launchpad to receiveĀ 20 million tokens.
- The fully diluted value (market value if the entire supply is in circulation) of ETHFI stands atĀ $4.13 billion.
- OverĀ $2 billionĀ worth of theĀ FDUSD stablecoinĀ andĀ 17.3 million $BNB Ā were staked on the Binance Launchpad.
- Launchpad stakers received an allocation of ETHFI relative to their staked amount.
-Several recently-listed tokens on Binanceās launchpad experienced price drops after release.
Token Allocation and Vesting:
- The max supply of ETHFI is capped atĀ one billionĀ tokens.20 million tokensĀ were allocated to the Binance Launchpad, andĀ 60 million tokensĀ were set aside for āseason oneā of the token airdrop (which ended on March 15).
- An additionalĀ 50 million tokensĀ will be distributed after āseason two.āInvestors will receiveĀ 32.5%Ā of the tokenās total supply over aĀ two-year vesting schedule.Core contributors will receiveĀ 23.26%Ā overĀ three years.
- Ether.Fiās total value locked (TVL) surgedĀ 117%Ā in the last 30 days, with total deposits approachingĀ $3 billion.
What Is Ether.Fi?:
- Ether.Fi is aĀ liquid restaking protocolĀ that allows stakers to receive aĀ liquid restaking token (LRT)Ā and loyalty points.
- Restaking is a strategy used by those who stake Ether ( $ETH ) and want to generate additional yield.
- The LRT can be used elsewhere on other protocols, and loyalty points can be converted into a token airdrop.
Remember that the crypto market is dynamic, and prices can fluctuate rapidly. Always stay informed and make decisions based on up-to-date information! šš
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