Binance, a prominent player in the cryptocurrency exchange sphere, has unveiled its highly anticipated 50th Launchpool project, Ethena (ENA), a pioneering synthetic dollar protocol. This marks a significant milestone for Binance as it continues to diversify its offerings and support innovative projects within the blockchain ecosystem.

Excitement surrounds the imminent launch of Ethena, with the webpage scheduled to go live in just 5 hours, perfectly timed to coincide with the initiation of the Launchpool. Users eagerly await the opportunity to participate in the farming of ENA tokens, which will span a three-day period starting from March 30, 2024, at 00:00 (UTC).

Come April 2, 2024, at 08:00 (UTC), Binance will officially list ENA, introducing a range of trading pairs including ENA/BTC, ENA/USDT, ENA/BNB, ENA/FDUSD, and ENA/TRY. This strategic move underscores Binance’s commitment to fostering liquidity and accessibility within the cryptocurrency market, providing traders with diverse options to engage with emerging assets like ENA.

Ethena (ENA) Launchpool Details Revealed

Delving into the specifics of Ethena’s Launchpool, Binance has provided clarity on critical aspects such as token supply, rewards, and staking terms. With a maximum token supply capped at 15,000,000,000 ENA, participants can anticipate substantial rewards, with 300,000,000 ENA earmarked for Launchpool token rewards, constituting 2% of the total token supply.

Of particular note is the initial circulating supply of ENA, pegged at 1,425,000,000 ENA, which represents 9.5% of the maximum token supply. Operating on the Ethereum blockchain, Ethena enforces staking terms that necessitate Know Your Customer (KYC) verification, ensuring compliance with regulatory standards and bolstering security for users.

It is imperative to heed Binance’s reminder that it will be the inaugural platform to list ENA, preempting any potential misinformation or deceptive advertising. Users are strongly encouraged to exercise due diligence and conduct independent research to safeguard their investment interests.

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Binance Labs Invests in Ethena to Revolutionize DeFi Sector

Underpinning Binance’s commitment to advancing the decentralized finance (DeFi) landscape, Binance Labs has thrown its weight behind Ethena, endorsing its ambitious vision to pioneer a crypto-native yield-bearing stablecoin. Since its public debut in February 2024, Ethena has captivated industry attention with its innovative approach to DeFi, attracting investment support from Binance Labs and other key stakeholders.

Moreover, Ethena’s strategic collaboration with MirrorX, a derivatives trading platform, further amplifies its market presence and accessibility. By integrating with Binance Exchange, institutional clients like Ethena gain unfettered access to MirrorX’s suite of offerings, facilitating seamless settlement of derivatives positions and opening doors to a diverse array of products and markets available within Binance’s ecosystem.

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The post Just-In: Binance Announces 50th Launchpool Project Ethena (ENA) appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am