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Binance Launches ether.fi (ETHFI) Staking Protocol on Binance Launchpool

In a move that signals continued innovation in the realm of decentralized finance (DeFi), Binance, one of the world’s leading cryptocurrency exchanges, has unveiled the 49th project on its Launchpool platform: ether.fi (ETHFI). This decentralized, non-custodial delegated staking protocol promises to offer users a unique opportunity to participate in staking and farming activities, further expanding the possibilities within the crypto ecosystem.

Users eagerly anticipate the chance to stake their BNB and FDUSD tokens into separate pools to farm ETHFI tokens over a four-day period, beginning precisely on March 14, 2024, at 00:00 (UTC).

Following the farming period, Binance will list ETHFI on March 18, 2024, at 12:00 (UTC), providing users with various trading pairs, including ETHFI/BTC, ETHFI/USDT, ETHFI/BNB, ETHFI/FDUSD, and ETHFI/TRY. Notably, the Seed Tag will be applied to ETHFI, ensuring its distinction within Binance’s robust ecosystem.

Key details of the ETHFI Launchpool include:

  • Token Name: ether.fi (ETHFI)
  • Max Token Supply: 1,000,000,000 ETHFI
  • Launchpool Token Rewards: 20,000,000 ETHFI (2% of max token supply)
  • Initial Circulating Supply: 115,200,000 ETHFI (11.52% of max token supply)
  • Smart Contract Details: Ethereum
  • Staking Terms: KYC required
  • Hourly Hard Cap per User:
    • 16,666.66 ETHFI in BNB pool
    • 4,166.66 ETHFI in FDUSD pool

The Launchpool will feature two supported pools:

  1. Stake BNB: Users can stake their BNB tokens to farm ETHFI, with 16,000,000 ETHFI allocated for rewards (80%).
  2. Stake FDUSD: FDUSD holders can participate in staking activities, with 4,000,000 ETHFI reserved for rewards (20%).

The farming period will span from March 14, 2024, at 00:00 (UTC) to March 17, 2024, at 23:59 (UTC). During this time, users can engage in staking activities to earn ETHFI tokens based on their contributions.

Furthermore, the distribution of ETHFI rewards during the farming period is as follows:

  • Dates (00:00:00 – 23:59:59 UTC each day)
  • Total Daily Rewards (ETHFI)
  • BNB Pool Daily Rewards (ETHFI)
  • FDUSD Pool Daily Rewards (ETHFI)
  • 2024-03-14 – 2024-03-17
  • 5,000,000
  • 4,000,000
  • 1,000,000

This distribution mechanism ensures a fair and transparent allocation of rewards to participants throughout the farming period.

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