In a move that signals continued innovation in the DeFi sector, Binance, one of the world's leading cryptocurrency exchanges, has announced the 49th project on its Launchpool platform: ether.fi ( ETHFI). This decentralized, non-custodial delegated staking protocol promises users the opportunity to engage in staking and farming activities, further expanding the possibilities in the cryptocurrency ecosystem.
Users will stake their BNB and FDUSD into separate pools to farm ETHFI tokens over a four-day period, starting exactly at 00:00 UTC (7:00 Vietnam time) on March 14, 2024.
After the farming phase, Binance will list ETHFI at 12:00 UTC (19:00 Vietnam time) on March 18, 2024, offering users various trading pairs, including ETHFI/BTC, ETHFI /USDT, ETHFI/BNB, ETHFI/FDUSD and ETHFI/ TRY.
Key details of the ETHFI Launchpool include:
Token name: ether.fi (ETHFI)
Maximum token supply: 1,000,000,000 ETHFI
Launchpool Token Reward: 20,000,000 ETHFI (2% of max supply)
Initial circulating supply: 115,200,000 ETHFI (11.52% of maximum supply)
Smart contract details: Ethereum
Staking terms: KYC required
Hourly hardcap per user:
16,666.66 ETHFI in BNB pool
4,166.66 ETHFI in FDUSD pool
Launchpool will have two supported pools:
Stake BNB: Users can stake their BNB to farm ETHFI, with 16,000,000 ETHFI allocated as rewards (80%).
FDUSD Staking: FDUSD Hodlers can participate in staking activities, with 4,000,000 ETHFI reserved for rewards (20%).
The farming period will last from 00:00 UTC (7:00 Vietnam time) March 14, 2024 to 23:59 UTC March 17, 2024 (6:59 March 18 Vietnam time) . During this time, users can participate in staking activities to earn ETHFI tokens based on their contributions.
Furthermore, the distribution of ETHFI rewards during the farming period is as follows:
This distribution mechanism ensures fair and transparent reward distribution to participants throughout the farming period.
