3 steps to receive free salary on Binance 💹
Step 1: press add on the app screen
Step 2: scroll down to the earn section -> select launchpad
Step 3: Select launchpool -> then use $BNB or $FDUSD TO STAKE the Ethena bet and you're done
🔥 Information about Ethena the 50th Launchpool project on BINANCE
🔔 Farming time to receive tokens: lasts 3 days from 07:00 March 30, 2024 - 6:59 April 2, 2024 (Vietnam Time)
🔔 Listing time for buying and selling: 15:00 April 2, 2024 (Vietnam Time)
⚒ Stake: BNB & FDUSD to receive free $ENA
💵 Launchpool Token reward: 300 Million $ENA
▪️ Stake $BNB: reward 240,000,000 ENA (80%)
▪️ Stake $FDUSD: reward 60,000,000 ENA (20%)
Details can be found in Binance's article
🔹ETHENA - The first project in the Stablecoin segment with high profits (deposit interest rate over 30%/year, 6 times higher than banks) with a fairly new risk management strategy, thanks to which the project has attracted more than 1.5 Billion USD was deposited here after only 3 months of launch
✅Where does the profit come from to pay interest?
Stablecoin profits come from Staking Reward by using LST as collateral and Funding Rate fees of Short ETH positions on CEX. Staking rewards from LST are only about 3% to 4% but Funding Rate fees are higher, ranging from 0% to 20% per year.
✅ Project products?
Ethena has 2 main products: $USDe and $sUSDe:
$USDe: Is a Stablecoin pegged 1:1 to USD. Stable assets such as $USDC, $USDT, $DAI, $crvUSD, $mkUSD, $GHO can be used to buy $USDe on#DEXor right in the Ethena user interface.
$sUSDe: An asset that brings profits from accumulating Staking Reward and Funding Rate. sUSDe initially had the same value as USDe, but as time went on, 1 sUSDe became more valuable than 1 USDe. This model is similar to rETH or wstETH.
Holding USDe, you can use it like regular Stablecoins in TradeFi (USDC, USDT, DAI). And you can only earn APR when you Stake USDe into Ethena and receive sUSDe. In the future, sUSDe will also be used as collateral on Lending protocols, Perp DEX,...
✅ Project team:
Guy Young – Founder at Ethena Labs: With 6 years of experience investing for Cerberus Capital Management fund.
Elliot Parker – Product: Graduated with a Bachelor of Economics majoring in Accounting from The Australian National University. Experienced in the derivatives trading industry, worked as a director at Tradeparadigm and community manager at Deribit.
Brian Grosso – Head of Full Stack Eng: With many years of experience working as a Software Engineer for many companies such as Capital One, BeamQL, Dottid.
Amine Mounazil – Research Analyst: Master's degree in Economics and experience in analyzing and researching products and markets at companies such as SUN ZU Lab, Kaiko, CoinShares France, CMA CGM, Synergie Media.
Seraphim Czecker – Head of Growth: With experience in financial management, risk management and has worked for some big names in the industry such as Goldman Sachs, Euler Labs, Lido Finance.
The Ethena development team is talented, capable and experienced in both traditional and Crypto markets.
✅ Call for capital:
July 17, 2023: Seed round raised $6.5M led by Dragonfly Capital with the participation of funds and CEX exchanges such as: Wintermute, Delphi, GSR, Lightspeed, OKX, Bybit, Deribit, Gemini, Houbi, …
February 15, 2024: Funding round raised from Binance Labs with an undisclosed amount.
February 16, 2024: Strategic round raised $14M at a valuation of $300M led by DragonFly, Maelstrom and participation from a number of investors such as: Paypal, Franklin, Fidelity, Binance Labs, Deribit, Gemini, Kraken
✅ Tokenomics:
• Total supply: 15 billion $ENA
• Initial circulation: 1,425,000,000 $ENA ~ 9.5% of total supply
✅What is $ENA used for: $ENA is mainly used for project management. In addition, Tokens are used to incentivize users and serve as reserve funds to develop future products.
🚀 Estimated price to be scooped up
Currently OTC is 0.6 USD, initial supply is 1 billion 4 tokens. If this price floor were to be used, the actual capitalization would be 850M (quite high) because most of the new projects listed on BINANCE recently only have a capitalization of about 300M$.
$ENA will likely increase quite high when it goes on the floor and then have drops, the buy point I watch for this one is somewhere around 0.2$-0.3$
