Binance Launches Ether.fi on Launchpool
Binance, the world’s leading cryptocurrency exchange, has announced the upcoming launch of Ether.fi (ETHFI) on its Launchpool platform. This decentralized, non-custodial delegated staking protocol will be the 49th project featured on Binance Launchpool, allowing users to farm ETHFI tokens by staking their BNB and FDUSD holdings.
Ether.fi aims to provide a seamless and secure staking experience for users, enabling them to participate in the platform’s governance and earn rewards for their contributions. The protocol’s native token, ETHFI, will serve as the primary means of incentivizing user participation and driving the ecosystem’s growth.
The ETHFI Launchpool will commence on March 14, 2024, at 00:00 UTC and will run until March 17, 2024, at 23:59 UTC. Users will have the opportunity to stake their BNB and FDUSD tokens in separate pools to farm ETHFI tokens. The total token rewards allocated for the Launchpool amount to 20,000,000 ETHFI, representing 2% of the token’s maximum supply of 1,000,000,000 ETHFI.
There will be two main pools in the Launchpool: the BNB pool and the FDUSD pool. The BNB pool will offer 16,000,000 ETHFI tokens as rewards (80% of the total Launchpool rewards), while the FDUSD pool will provide 4,000,000 ETHFI tokens (20% of the total rewards). Users can stake their tokens in only one pool at a time but can allocate their assets between the two pools as they see fit.
To ensure fair distribution and prevent any single user from dominating the Launchpool, Binance has implemented an hourly hard cap per user. In the BNB pool, each user can farm a maximum of 16,666.66 ETHFI per hour, while in the FDUSD pool, the hourly hard cap is set at 4,166.66 ETHFI.
After the completion of the Launchpool, Binance will list ETHFI on its platform on March 18, 2024, at 12:00 UTC. The token will be available for trading in several pairs, including ETHFI/BTC, ETHFI/USDT, ETHFI/BNB, ETHFI/FDUSD, and ETHFI/TRY. Binance will also apply the Seed Tag to ETHFI, indicating its status as a newly launched token.
To participate in the ETHFI Launchpool, users must complete their account verification and reside in an eligible jurisdiction. Binance has provided a list of excluded countries and regions, which may be subject to change based on evolving local regulations and other factors. Users are encouraged to carefully review the terms and conditions before participating in the Launchpool.
The launch of Ether.fi on Binance Launchpool marks another significant milestone for the decentralized staking protocol as it aims to expand its user base and foster greater adoption within the crypto community. Joining a growing list of promising blockchain projects on the Launchpool platform, Ether.fi leverages Binance’s extensive user base and liquidity to drive its success.
