Binance Launches Ether.fi (ETHFI) on Launchpool Platform
Binance, the world’s leading cryptocurrency exchange, has announced the upcoming launch of Ether.fi (ETHFI) on its popular Launchpool platform. ETHFI is a decentralized staking protocol that allows users to stake their BNB and FDUSD tokens to farm ETHFI tokens. This announcement has generated excitement within the crypto community as users eagerly anticipate the opportunity to participate in this new project.
What is Ether.fi?
Ether.fi is a decentralized and non-custodial delegated staking protocol that aims to provide a seamless and secure staking experience for users. By participating in the platform’s governance and contributing to its growth, users can earn rewards in the form of ETHFI tokens. These tokens serve as an incentive for user participation and play a vital role in driving the ecosystem’s development.
Launchpool Details
The ETHFI Launchpool will commence on March 14, 2024, at 00:00 UTC and run until March 17, 2024, at 23:59 UTC. During this four-day period, users can 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, which represents 2% of the token’s maximum supply of 1,000,000,000 ETHFI.
- The BNB pool offers 16,000,000 ETHFI tokens as rewards (80% of total Launchpool rewards).
- The FDUSD pool provides 4,000,000 ETHFI tokens as rewards (20% of total rewards).
Users can choose to stake their tokens in either the BNB pool or the FDUSD pool, but they can only participate in one pool at a time. However, users have the flexibility to allocate their assets between the two pools as they see fit.
Fair Distribution and Limits
To ensure a 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.
- In the FDUSD pool, the hourly hard cap is set at 4,166.66 ETHFI.
Listing and Trading on Binance
Following 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 various pairs, including ETHFI/BTC, ETHFI/USDT, ETHFI/BNB, ETHFI/FDUSD, and ETHFI/TRY. Binance will also apply the Seed Tag to ETHFI to indicate its status as a newly launched token.
Participation Requirements
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 regulations and other factors. Users are encouraged to review the terms and conditions before participating in the Launchpool.
Ether.fi’s Milestone on Launchpool
The addition of Ether.fi to Binance Launchpool marks another significant milestone for this decentralized staking protocol. By leveraging Binance’s extensive user base and liquidity, Ether.fi aims to expand its reach and foster greater adoption within the crypto community. As the 49th project to be featured on the Launchpool platform, Ether.fi joins a growing list of promising blockchain projects that have found success with Binance’s support.
🔥 Hot Take: Exciting Opportunities Await on Binance Launchpool 🔥
If you’re a crypto enthusiast looking for exciting opportunities, Binance Launchpool is the place to be. With the upcoming launch of Ether.fi (ETHFI), you have a chance to stake your BNB and FDUSD tokens and farm ETHFI tokens. By participating in this decentralized staking protocol, you can earn rewards and contribute to its growth.
Don’t miss out on this opportunity to be part of the crypto revolution. Join Binance Launchpool and start farming ETHFI tokens today!
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