ETHFI) on Binance Launchpool:
In a groundbreaking move, Binance Launchpool has announced the introduction of ether.fi (ETHFI), a decentralized, non-custodial delegated staking protocol that is set to revolutionize the way we think about staking in the cryptocurrency ecosystem
Ether.fi is at the forefront of a new breed of blockchain projects known as liquid restaking protocols. These innovative platforms allow users to leverage Ethereum's proof-of-stake blockchain to secure other networks and protocols, thereby providing an additional source of yield for their staked ether (ETH) tokens
Binance, the world's leading cryptocurrency exchange, is the first platform to list ETHFI, with trading set to commence on March 18, 2024, at 12:00 (UTC). The anticipation is palpable as users prepare to stake their BNB and FDUSD into separate pools to farm ETHFI tokens over a four-day period, starting from March 14, 2024
The maximum token supply for ETHFI is capped at 1 billion tokens, with Launchpool token rewards constituting 20 million, or 2% of the total supply. The initial circulating supply is set at 115.2 million, or 11.52%
Users will have the opportunity to stake BNB and FDUSD to earn ETHFI tokens. An impressive 80% of the rewards will be distributed to BNB stakers, while the FDUSD pool will receive the remaining 20%. The farming period is a tight window from March 14 to March 17, 2024, ensuring a focused and intense farming experience
Ether.fi's launch on Binance Launchpool is not just a milestone for the protocol but also a significant development for the decentralized finance (DeFi) sector. With a total value locked (TVL) of $2.3 billion, Ether.fi stands as the largest liquid-restaking protocol, outpacing its closest competitor by a substantial margin
The introduction of ether.fi (ETHFI) on Binance Launchpool marks a pivotal moment in the DeFi landscape. As users eagerly await the opportunity to participate in this innovative staking protocol, the crypto community watches with interest to see how this will shape the future of staking and yield generation.
