Binance Announces Listing of Ethena (ENA) on Launchpool

Binance has just announced its 50th project on Binance Launchpool – Ethena (ENA), a synthetic dollar protocol.

Users will be able to stake their BNB and FDUSD in separate pools to farm ENA tokens for three days, with farming starting from March 30, 2024, at 00:00 (UTC).

Subsequently, Binance will list ENA on April 2, 2024, at 8:00 (UTC) and open trading with ENA/BTC, ENA/USDT, ENA/BNB, ENA/FDUSD, and ENA/TRY trading pairs. The Seed label will be applied to ENA.

Details of the ENA Launchpool:

• Token Name: Ethena (ENA)
• Maximum Supply: 15,000,000,000 ENA
• Launchpool Token Reward: 300,000,000 ENA (2% of maximum supply)
• Initial Circulating Supply: 1,425,000,000 ENA (9.5% of maximum supply)
• Smart Contract Details: Ethereum
• Staking Requirement: KYC required
• Hard Cap per Hour per User:
  • 333,333.33 ENA in the BNB pool
  • 83,333.33 ENA in the FDUSD pool

Supported Pools:

• Stake BNB (website will be available in about 5 hours): 240,000,000 ENA reward (80%)
• Stake FDUSD (website will be available in about 5 hours): 60,000,000 ENA reward (20%)
• Farming Time: From March 30, 2024, at 00:00 (UTC) to April 1, 2024, at 23:59 (UTC).

Register for a Binance account here to start trading.

Related: Binance Announces Delisting of DREP, MOB, PNT

Introduction to Ethena

Ethena Labs is a decentralized protocol issuing stablecoins built on Ethereum, providing a stablecoin solution independent of traditional banking systems. The project will offer savings tools with a new USD pegged token called Internet Bond.

Ethena’s stablecoin (USDe) is a delta-hedging strategy-based stablecoin solution. USDe will be fully transparently collateralized on the blockchain and can be freely used across different DeFi applications.

Notably, the Internet Bond is built on USDe, and this product will combine profits from Liquid Staking Tokens (LST) as well as the futures and perpetual swap markets. This will be the first blockchain-based bond, functioning as a USD savings instrument for users worldwide.

With this model, Ethena promises to deliver a flexible, transparent, and entirely decentralized stablecoin solution, while also providing attractive savings tools through the Internet Bond. Leveraging revenue sources from LSTs and derivative markets allows the project to generate attractive returns for users without relying on centralized banking systems.