Binance launches Ethena (ENA) on Launchpool to farm ENA tokens

Popular crypto exchange Binance has introduced Ethena (ENA) to its Launchpool platform. Users can now participate in ENA token farming by staking BNB and FDUSD. The farming period will last for 3 days starting March 30, 2024. ENA will be listed on Binance on April 2, 2024.

Binance, one of the leading cryptocurrency exchanges, recently announced the introduction of Ethena (ENA) to its Launchpool platform. ENA is a synthetic dollar protocol designed to provide users with a stable, decentralized digital currency solution.

The launch of ENA on Binance Launchpool gives users the opportunity to farm ENA tokens by staking BNB (Binance Coin) and FDUSD (a stablecoin pegged to the US dollar). This farming process will run for 3 days starting from 00:00 UTC on March 30, 2024.

Once the farming period ends, ENA will be officially listed on the Binance exchange on April 2, 2024 at 08:00 UTC. Trading pairs available on ENA include ENA/BTC, ENA/USDT, ENA/BNB, ENA/FDUSD, and ENA/TRY.

Important details about ENA Launchpool include:

Token name: Ethena (ENA)

Maximum token supply: 15,000,000,000 ENA

Launchpool token reward: 300,000,000 ENA (2% of maximum token supply)

Initial circulating supply: 1,425,000,000 ENA (9.5% of maximum token supply)

Smart Contract Details: Ethereum

Staking conditions: KYC required

To participate in ENA Launchpool, users must stake BNB and FDUSD tokens. There is an hourly hard cap per user, allowing a maximum stake of 333,333.33 ENA for the BNB pool and 83,333.33 ENA for the FDUSD pool. The BNB pool offers a reward of 240,000,000 ENA (80%) and the FDUSD pool offers a reward of 60,000,000 ENA (20%).

During the farming period, the following rewards will be distributed every day.

Daily Total Rewards (ENA): 100,000,000 ENA

BNB Pool Daily Rewards (ENA): 80,000,000 ENA

FDUSD Pool Daily Rewards (ENA): 20,000,000 ENA

Binance emphasizes that claims to sell ENA before the official listing date are false advertising. Users are advised to do their own research and take precautions to ensure the safety of their funds.

It is important to note that participation in ENA Launchpool may be subject to eligibility requirements based on your country or region of residence. Some countries, such as Australia, Canada, Cuba, Iran, Japan, and the United States, may be excluded from participating in the ENA agricultural process.

Binance continues to provide innovative opportunities to its users in the cryptocurrency space. Interested parties are encouraged to stay informed and join the Ethena Launchpool to take advantage of farming opportunities and earn his ENA tokens by staking BNB and FDUSD.

To learn more about Ethena (ENA), you can access the research report available immediately upon publication. Additionally, Ethena’s website and whitepaper provide more details about the project’s goals and technology.

The Binance team would like to express our gratitude for the support we have received and remain committed to providing a wide range of options to crypto enthusiasts.

Image source: Shutterstock

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button