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Binance Launches Ethena (ENA) on Launchpool for Farming ENA Tokens | IDOs News
Binance, the popular cryptocurrency exchange, has introduced Ethena (ENA) on its Launchpool platform. Users can now participate in farming ENA tokens by staking BNB and FDUSD. The farming period will last for three days, starting from March 30, 2024. ENA will be listed on Binance on April 2, 2024.
Binance, one of the leading cryptocurrency exchanges, has recently announced the introduction of Ethena (ENA) on their Launchpool platform. ENA is a synthetic dollar protocol designed to offer users a stable and decentralized digital currency solution.
With the launch of ENA on Binance Launchpool, users now have the opportunity to farm ENA tokens by staking their BNB (Binance Coin) and FDUSD (a stablecoin pegged to the US dollar). This farming process will take place over a three-day period, starting from March 30, 2024, at 00:00 UTC.
Once the farming period concludes, ENA will be officially listed on the Binance exchange on April 2, 2024, at 08:00 UTC. Trading pairs available for ENA will include ENA/BTC, ENA/USDT, ENA/BNB, ENA/FDUSD, and ENA/TRY.
Here are some important details about the ENA Launchpool:
Token Name: Ethena (ENA)
Max Token Supply: 15,000,000,000 ENA
Launchpool Token Rewards: 300,000,000 ENA (2% of max token supply)
Initial Circulating Supply: 1,425,000,000 ENA (9.5% of max token supply)
Smart Contract Details: Ethereum
Staking Terms: KYC required
To participate in the ENA Launchpool, users will need to stake their BNB and FDUSD tokens. There will be an hourly hard cap per user, allowing a maximum stake of 333,333.33 ENA in the BNB pool and 83,333.33 ENA in the FDUSD pool. The BNB pool will offer 240,000,000 ENA in rewards (80%), while the FDUSD pool will provide 60,000,000 ENA in rewards (20%).
During the farming period, daily rewards will be distributed as follows:
Total Daily Rewards (ENA): 100,000,000 ENA
BNB Pool Daily Rewards (ENA): 80,000,000 ENA
FDUSD Pool Daily Rewards (ENA): 20,000,000 ENA
Binance emphasizes that any claims to offer ENA for sale before the official listing date are false advertising. Users are advised to conduct their own research and exercise caution to ensure the security of their funds.
It’s important to note that participation in the ENA Launchpool may be subject to eligibility requirements based on the user’s country or region of residence. Some countries, such as Australia, Canada, Cuba, Iran, Japan, and the United States, among others, may be excluded from participating in the ENA farming process.
Binance continues to provide innovative opportunities for its users within the cryptocurrency space. Interested individuals are encouraged to stay informed and join the Ethena Launchpool to take advantage of the farming opportunity and earn ENA tokens by staking BNB and FDUSD.
For more information about Ethena (ENA), users can access the research report available shortly after the announcement. Additionally, the Ethena website and whitepaper provide further details about the project’s goals and technology.
The Binance team expresses their gratitude for the support received and remains dedicated to offering a wide range of options to cryptocurrency enthusiasts.
Image source: Shutterstock
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Binance Introduces FDUSD Flexible Products with Up to 11.5% APR Rewards | IDOs News
Binance, a leading cryptocurrency exchange, has launched a new promotional offer for its FDUSD Simple Earn Flexible Products. According to binance.com, eligible users can enjoy an exclusive Bonus Tiered Annual Percentage Rate (APR) of 10.5% on top of Real-Time APR rewards, bringing the total potential APR to 11.5%.
Promotion Details
The promotion period will run from July 26, 2024 (00:00 UTC) to August 8, 2024 (23:59 UTC). During this period, users who subscribe to the FDUSD Simple Earn Flexible Products on a first-come, first-served basis can benefit from the enhanced APR rewards.
Subscription and Rewards
Subscribers will start accruing Bonus Tiered APR rewards the day after their subscription, starting from 00:00 UTC. These rewards will be distributed daily between 00:00 UTC and 08:00 UTC to the user’s Spot Wallet. All users holding open positions in FDUSD Flexible Products will receive both Real-Time APR and Bonus Tiered APR rewards during the promotion period.
Once the promotion ends, only Real-Time APR rewards will continue. The Bonus Tiered APR rewards are calculated based on the subscribed amounts and are subject to specific tier limits. Users can view their Flexible Products assets in their Binance wallets under the ‘Earn’ section.
Terms and Conditions
Binance has outlined several terms and conditions for the promotion:
- Bonus Tiered APR rewards start accruing the day after subscription.
- Rewards are distributed daily to the user’s Spot Wallet.
- Real-Time APR and Bonus Tiered APR rewards are funded by Binance’s own resources and are not affiliated with the issuer of FDUSD.
- Redemption for Flexible Products subscriptions is instant, though daily redemption limits apply and may be subject to change.
- Binance reserves the right to disqualify participants who tamper with the system or act fraudulently.
- Binance may cancel or amend the promotion at its discretion.
Additional Information
Users are advised to refer to the Binance Simple Earn Terms & Conditions before participating. Discrepancies may exist between translated and original versions of the announcement, and users should refer to the original English version for the most accurate information.
Binance’s announcement also includes a general disclaimer about the volatility of digital asset prices and the risks involved in cryptocurrency investments. Users are encouraged to make informed decisions and understand that APR is an estimate and may vary.
For more details, visit the official announcement on binance.com.
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Latest News
BitMEX Announces Updates to Basket Indices | IDOs News
BitMEX, a leading cryptocurrency exchange, has announced significant updates to the weight and index multiplier of its basket indices, effective as of July 26, 2024. This update impacts several key indices, including .BMEMEMEXT, according to the BitMEX Blog.
Details of the Updates
The changes took effect at 04:00:05 UTC on the specified date. These adjustments are part of BitMEX’s ongoing efforts to maintain the accuracy and reliability of its trading platform. The specific indices affected by these updates have seen alterations in their weight and index multipliers, which are critical for traders to note as these factors directly influence their trading strategies and outcomes.
Impact on Traders
For traders using these indices, it is essential to review and adjust their positions accordingly. The changes could affect the performance and risk profile of their trading strategies. BitMEX has emphasized that these updates are designed to reflect the current market conditions and improve the overall trading experience on their platform.
Compliance and Restrictions
BitMEX also reiterated its commitment to compliance with regulatory standards. The platform prohibits access to trading or holding positions for individuals or entities located in restricted jurisdictions, including the United States. BitMEX has warned that any user found to have provided false information regarding their location or residency will have their accounts closed and positions liquidated immediately.
The exchange reserves the right to update its Restricted Jurisdiction Policy and implement new controls to prevent access from these areas. Users are advised to stay informed about these policies to avoid any disruptions to their trading activities.
Advice for Traders
BitMEX has cautioned that the material posted on its blog should not be considered as investment advice or recommendations. Traders are encouraged to conduct their due diligence and consult with financial advisors before making investment decisions. The updates to the basket indices are part of BitMEX’s broader strategy to ensure a fair and transparent trading environment.
This announcement underscores the importance of staying updated with platform changes and regulatory requirements to navigate the dynamic landscape of cryptocurrency trading effectively.
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Binance Announces 50,000 FDUSD Rewards for Completing Deposit and Trading Tasks | IDOs News
Binance has unveiled a new promotion that invites selected users to complete deposit and trading tasks to unlock a share of 50,000 FDUSD in rewards, according to Binance.
Promotion Details
The promotion runs from July 25, 2024, 12:00 UTC to August 15, 2024, 08:00 UTC. During this period, selected users will receive invitations through email, inmail, and app push notifications to participate in the tasks. The promotion is split into two parts: Promotion A and Promotion B.
Promotion A: Deposit Tasks
To qualify for rewards in Promotion A, users must meet the following criteria:
- Reach a net crypto deposit amount of at least $10 via cryptocurrency deposits during the Promotion Period.
- Maintain the minimum net crypto deposit amount required for the corresponding reward tier during the entire Holding Period from August 15, 2024, 08:00 UTC to August 31, 2024, 08:00 UTC.
Only deposits from external applications or wallets will count towards the net crypto deposit amount. Rewards are distributed on a first-come, first-served basis, and each user may qualify for a maximum of one reward from Promotion A.
Promotion B: Trading Tasks
Eligible users who complete account verification and have not made any trades on Binance prior to July 25, 2024, 12:00 UTC can participate in Promotion B by making their first trade on Spot, Futures, Auto-Invest, Margin, Options, or Leveraged Tokens. Trades involving stablecoin-to-stablecoin and zero-fee pairs are excluded.
Binance will select 250 qualified participants to receive a 20 USDT token voucher each, based on every 5th qualified participant fulfilling the trading requirement during the Promotion Period.
Terms & Conditions
Participation is limited to users in MENA and South Asia who receive invitations via email, inmail, or app notifications. Rewards for Promotions A and B are not mutually exclusive, allowing users to participate in both where eligible. Token voucher rewards will be distributed within 30 working days after the promotion ends and must be claimed within 15 days of distribution.
Binance reserves the right to modify or impose additional restrictions on the promotion and disqualify trades that involve prohibited activities such as market manipulation. Full terms and conditions can be accessed on Binance’s website.
This promotion aligns with Binance’s ongoing efforts to engage its user base through rewarding activities and enhance user participation on its platform.
Image source: Shutterstock
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