A new project called Ethena (ENA) has been introduced by Binance, a prominent figure in the cryptocurrency exchange industry, as part of their Launchpool series. This launch is noteworthy as it marks the fiftieth project in the series. From March 30, 2024, at 03:00 local time in Turkey, Binance users are able to participate in farming ENA by staking Binance Coin (BNB) and FDUSD, earning ENA tokens in the process.
Speedy Access to Ethena Trading
The farming phase for Ethena will be short-lived, as it is scheduled to be listed for trading on April 2, 2024, at 11:00 local time. Binance is planning to introduce multiple trading pairs for ENA, such as ENA/BTC, ENA/USDT, ENA/BNB, ENA/FDUSD, and ENA/TRY, providing a variety of options for potential investors.
Unveiling Ethena Launchpool Details
Ethena's Launchpool comes with specific parameters, including a maximum token supply of 15 billion ENA, with 300 million designated for farming rewards (2% of the total supply). The initial circulating supply upon launch will be around 1.425 billion ENA, equivalent to 9.5% of the total supply. Ethena operates on the Ethereum smart contract platform and requires investors to undergo a Know Your Customer (KYC) verification process. Hourly caps have been set for users staking BNB (333,333.33 ENA) and FDUSD (83,333.33 ENA).
When it comes to reward distribution, Binance has allocated a significant 80% (240 million ENA) to BNB stakers, while the remaining 20% (60 million ENA) will go to those utilizing FDUSD. Binance emphasizes the importance for users to adhere to the specific timelines and conditions tied to the ENA farming and trading launch.
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