Key Points
- Binance has just introduced Ethena (ENA) on Binance Launchpool, and the exchange will be the first one to list ENA.
- Users can now farm ENA by staking BNB and FDUSD.
- The announcement comes right after the project revealed its 750 million ENA tokens airdrop.
Binance has just announced the 50th project on Binance Launchpool, Ethena (ENA). The webpage will be available later today, before the Launchpool starts.
Binance has announced that users can stake their BNB and FDUSD into separate pools to farm ENA tokens over three days, starting from 2024-03-30 00:00 (UTC).
Binance will also be the first exchange to list the token ENA:
“Binance will then list ENA at 2024-04-02 08:00 (UTC) and open trading with ENA/BTC, ENA/USDT, ENA/BNB, ENA/FDUSD and ENA/TRY trading pairs. The Seed Tag will be applied to ENA.”
Binance’s strategic move is marking the exchange’s commitment to fostering liquidity and accessibility in the crypto market, offering traders options to engage with emerging projects such as Ethena.
Ethena Launchpool details
Binance has provided clear information about Ethena’s Launchpool program, including details about token supply, rewards, and staking terms in the official announcement.
The maximum token supply for the program is set at 15 billion ENA, with 300 million ENA reserved for Launchpool token rewards, which is equivalent to 2% of the total token supply. Participants in the program can expect significant rewards.
The first circulating supply of ENA is fixed at 1,425,000,000 ENA, which constitutes 9.5% of the maximum token supply.
Ethena operates on the Ethereum blockchain and enforces staking regulations that require Know Your Customer (KYC) verification, ensuring compliance with regulatory standards and enhancing security for users.
Users will be able to farm ENA by staking BNB and FDUSD.
Ethena Labs announced on X that the ENA public mainnet is about to start and revealed the details for early access for Ethena airdrop allocation.
Ethena reveals the first step in decentralizing its protocol
Binance’s announcement comes right after Ethena announced its airdrop scheduled for April 2.
The decentralized finance protocol on Ethereum announced on X the first step in decentralizing the protocol with the launch of ENA:
We are excited to announce the first step in decentralizing the Ethena protocol with the launch of: $ENA pic.twitter.com/Xs7vvfmEEP
— Ethena Labs (@ethena_labs) March 27, 2024
Ethena Labs has recently announced that they will be distributing 750 million ENA tokens to users who hold “shards.” These shards represent the engagement of users with the protocol.
In the official announcement, they revealed April 2 as the beginning of Ethena Protocol’s decentralization.
