Binance, a dominant player in the cryptocurrency exchange market, has unveiled Ethena (ENA) as the latest addition to its range of Launchpool projects, marking the fiftieth milestone. Starting March 30, 2024, at 03:00 local time in Turkey, Binance users have the opportunity to engage in ENA farming. This involves staking Binance Coin (BNB) and FDUSD to earn ENA tokens prior to its official trading debut.
Fast-Track to Ethena Trading
In a rapid progression, the farming phase is brief as Ethena is set to be listed for trading on April 2, 2024, at 11:00 local time. Binance plans to offer multiple trading pairs including ENA/BTC, ENA/USDT, ENA/BNB, ENA/FDUSD, and ENA/TRY, expanding options for potential investors.
Ethena Launchpool Details Unveiled
Ethena’s Launchpool is structured with precise parameters: a maximum token supply of 15 billion ENA, with 300 million allocated as farming rewards (2% of the total supply). The initial circulating supply at launch is set at approximately 1.425 billion ENA, representing 9.5% of the total supply. Operating on the Ethereum smart contract platform, Ethena requires investors to complete a Know Your Customer (KYC) verification. Additionally, hourly caps are in place for users farming with BNB (333,333.33 ENA) and FDUSD (83,333.33 ENA).
Distributing the rewards, Binance allocates a significant 80% (240 million ENA) to BNB stakers, while the remaining 20% (60 million ENA) goes to those using FDUSD. Binance highlights the critical need for users to be mindful of the specific timelines and conditions associated with the ENA farming and trading launch.