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The Binance cryptocurrency exchange is continuously introducing new projects on its Launchpool platform, with one project starting as soon as another ends. Binance made an announcement today introducing the 49th project on the Launchpool platform, which is a decentralized, non-custodial delegated staking protocol called ether.fi (ETHFI).
Details of the Launchpool Project ether.fi (ETHFI)
Binance introduced ether.fi (ETHFI) on its Launchpool platform. According to the announcement, holders of BNB and FDUSD will stake their assets in designated pools to earn ETHFI tokens. The process will start on March 14, 2024, at 03:00 Turkey time and will end on March 18, 2024, at 02:59 Turkey time.
The listing of ETHFI will take place on March 18, 2024, at 15:00 Turkey time. The listing will offer trading pairs such as ETHFI/BTC, ETHFI/USDT, ETHFI/BNB, ETHFI/FDUSD, and ETHFI/TRY.
Binance also shared the following details about the token:
- Token Name: ether.fi (ETHFI)
- Maximum Token Supply: 1,000,000,000 ETHFI
- Launchpool Token Rewards: 20,000,000 ETHFI (2% of maximum token supply)
- Initial Circulating Supply: 115,200,000 ETHFI (11.52% of maximum token supply)
- Smart Contract Details: Ethereum
- Staking Conditions: KYC required
- Maximum Hourly Withdrawal Limit Per User:
- In the BNB pool: 16,666.66 ETHFI
- In the FDUSD pool: 4,166.66 ETHFI
Binance also announced that 80% of the rewards, which amounts to 16,000,000 ETHFI, will be given to those staking BNB, and the remaining 20% of the rewards, which is 4,000,000 ETHFI, will be given to those staking FDUSD.
