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Binance announces support for Ethereum-based altcoin project Ethena
Learn how to support and farm the new Ethereum-based cryptocurrency Ethena (ENA) on Binance Exchange. Ethena offers a crypto-native solution for money that is not based on the traditional banking system, allowing users to use the Internet Bond, a dollar-based savings vehicle. Stake BNB and First Digital USD (FDUSD) and receive ENA tokens. Binance plans to add ENA on April 2nd. Note that ENA comes with a seed tag, indicating the higher volatility of projects with low liquidity.
Binance announces support for Ethereum-based altcoin project Ethena
Top crypto exchange Binance announces support for a new Ethereum (ETH)-based altcoin via its Launchpool platform. Binance Launchpool's 50th project will be Ethena (ENA), a synthetic dollar protocol. Ethena aims to provide a crypto-native solution for money that does not rely on traditional banking infrastructure, via a synthetic dollar called USDe. The protocol also offers a dollar-based investment vehicle called “Internet Bond.”
Between March 30 and April 2, Binance users will be able to deposit BNB as well as the stablecoin First Digital USD (FDUSD) into separate pools to generate ENA. The exchange then plans to list the asset on April 2nd.
Binance will assign a seed tag to ENA, which will be applied to projects with lower liquidity and may have higher volatility compared to other listed tokens. Binance requires users who hold assets with seed tags to pass quizzes every 90 days to ensure they are aware of the risks before trading the tokens.
Here is a summary of the information in a table:
| Stock market | Cryptocurrency | Start date | function |
|---|---|---|---|
| Binance | Ethena (ENA) | April 2nd | Support for a synthetic dollar protocol, allowing staking of BNB and FDUSD |
There are no historical facts of interest in this context.