IMPORTANT: Binance will be the first platform to list the token mentioned herein, with trading starting at 2024-03-18 12:00 (UTC). Any claims to offer this token for sale before the stated timeline are false advertising. Please do your own research to ensure safety of your funds.
Fellow Binancians,
Binance is excited to announce the 49th project on Binance Launchpool - ether.fi (ETHFI), a decentralized, non-custodial delegated staking protocol. The webpage is estimated to be available in 24 hours, before the Launchpool starts.
Users will be able to stake their BNB and FDUSD into separate pools to farm ETHFI tokens over four days, with farming starting from 2024-03-14 00:00 (UTC).
Listing
Binance will then list ETHFI at 2024-03-18 12:00 (UTC) and open trading with ETHFI/BTC, ETHFI/USDT, ETHFI/BNB, ETHFI/FDUSD and ETHFI/TRY trading pairs. The Seed Tag will be applied to ETHFI.
ETHFI Launchpool Details:
Token Name: ether.fi (ETHFI)
Max Token Supply: 1,000,000,000 ETHFI
Launchpool Token Rewards: 20,000,000 ETHFI (2% of max token supply)
Initial Circulating Supply: 115,200,000 ETHFI (11.52% of max token supply)
Smart Contract Details: Ethereum
Staking Terms: KYC required
Hourly Hard Cap per User:
16,666.66 ETHFI in BNB pool
4,166.66 ETHFI in FDUSD pool
Supported Pools:
Stake BNB (webpage will be available in around 24 hours): 16,000,000 ETHFI in rewards (80%)
Stake FDUSD (webpage will be available in around 24 hours): 4,000,000 ETHFI in rewards (20%)
Farming Period: 2024-03-14 00:00 (UTC) to 2024-03-17 23:59 (UTC).
ETHFI Farming Distribution
Read about ether.fi (ETHFI) in our research report here, which will be available within 1 hour of publishing this announcement.
Project Links
Website: https://www.ether.fi/
Whitepaper: https://etherfi.gitbook.io/etherfi/ether.fi-whitepaper
X: https://twitter.com/ether_fi
Discord: https://discord.com/invite/zqGzcuQWvD
Telegram: https://t.me/+C3fpSjmPqzA5NTVh
Medium: https://medium.com/etherfi
Please note:
Snapshots of user balances and total pool balances will be taken multiple times at any point of time each hour to get users’ hourly average balances and calculate user rewards. User rewards will be updated each hour.
Users will be able to accumulate their rewards (calculated each hour) and claim these rewards directly to their spot accounts at any time.
Each pool’s annual percentage yield (APY) and total pool balance will be updated in real time.
Tokens can only be staked in one pool at a time. For example, User A cannot stake the same BNB into two different pools at the same time, but can allocate 50% of their BNB into pool A and 50% into pool B.
Users will be able to unstake their funds at any time with no delay and participate in any other available pools immediately.
Tokens staked in each pool and any unclaimed rewards will be automatically transferred to each user’s spot accounts at the end of each farming period.
Binance BNB Vault and Locked Products will support the Launchpool. Users who have staked their BNB in BNB Vault and Locked Products will automatically participate in the Launchpool, and receive new token rewards.
If there are more than one Launchpool projects running concurrently, users' BNB assets in BNB Vault and Locked Products will be split and allocated into each project equally unless otherwise specified.
BNB Vault assets collateralizing against Binance Loans (Flexible Rate) are not entitled to Launchpool rewards.
BNB staked into Launchpool will still provide users with the standard benefits for holding BNB, such as airdrops, Launchpad eligibility and VIP benefits.
Participation in Launchpool is subject to eligibility based on the user's country or region of residence. Please refer to the instructions on the Launchpool page.
Please note that the list of excluded countries provided below is not exhaustive and may be subject to changes due to evolving local rules, regulations, or other considerations.Users need to complete their account verification and also be from an eligible jurisdiction to participate in farming ETHFI.
Currently, users residing in the following countries or regions will not be able to participate in farming ETHFI: Australia, Canada, Cuba, Crimea Region, Iran, Japan, New Zealand, Netherlands, North Korea, Syria, United States of America and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands), and any non-government controlled areas of Ukraine
This list may be updated periodically to accommodate changes in legal, regulatory, or other factors.
Note: There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.
Thank you for your support!
Binance Team
2024-03-12
Disclaimer: In compliance with MiCA requirements, from 2024-06-30, unauthorized stablecoins are subject to certain restrictions for EEA users. For more information, please click here.
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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.
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