Binance Launches Ethena (ENA) on Launchpool for Farming ENA Tokens
Rebeca Moen Mar 29, 2024 12:26
Binance, the popular cryptocurrency exchange, has introduced Ethena (ENA) on its Launchpool platform. Users can now participate in farming ENA tokens by staking BNB and FDUSD. The farming period will last for three days, starting from March 30, 2024. ENA will be listed on Binance on April 2, 2024.
Binance, one of the leading cryptocurrency exchanges, has recently announced the introduction of Ethena (ENA) on their Launchpool platform. ENA is a synthetic dollar protocol designed to offer users a stable and decentralized digital currency solution.
With the launch of ENA on Binance Launchpool, users now have the opportunity to farm ENA tokens by staking their BNB (Binance Coin) and FDUSD (a stablecoin pegged to the US dollar). This farming process will take place over a three-day period, starting from March 30, 2024, at 00:00 UTC.
Once the farming period concludes, ENA will be officially listed on the Binance exchange on April 2, 2024, at 08:00 UTC. Trading pairs available for ENA will include ENA/BTC, ENA/USDT, ENA/BNB, ENA/FDUSD, and ENA/TRY.
Here are some important details about the ENA Launchpool:
Token Name: Ethena (ENA)
Max Token Supply: 15,000,000,000 ENA
Launchpool Token Rewards: 300,000,000 ENA (2% of max token supply)
Initial Circulating Supply: 1,425,000,000 ENA (9.5% of max token supply)
Smart Contract Details: Ethereum
Staking Terms: KYC required
To participate in the ENA Launchpool, users will need to stake their BNB and FDUSD tokens. There will be an hourly hard cap per user, allowing a maximum stake of 333,333.33 ENA in the BNB pool and 83,333.33 ENA in the FDUSD pool. The BNB pool will offer 240,000,000 ENA in rewards (80%), while the FDUSD pool will provide 60,000,000 ENA in rewards (20%).
During the farming period, daily rewards will be distributed as follows:
Total Daily 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 any claims to offer ENA for sale before the official listing date are false advertising. Users are advised to conduct their own research and exercise caution to ensure the security of their funds.
It's important to note that participation in the ENA Launchpool may be subject to eligibility requirements based on the user's country or region of residence. Some countries, such as Australia, Canada, Cuba, Iran, Japan, and the United States, among others, may be excluded from participating in the ENA farming process.
Binance continues to provide innovative opportunities for its users within the cryptocurrency space. Interested individuals are encouraged to stay informed and join the Ethena Launchpool to take advantage of the farming opportunity and earn ENA tokens by staking BNB and FDUSD.
For more information about Ethena (ENA), users can access the research report available shortly after the announcement. Additionally, the Ethena website and whitepaper provide further details about the project's goals and technology.
The Binance team expresses their gratitude for the support received and remains dedicated to offering a wide range of options to cryptocurrency enthusiasts.
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