On the occasion of its 49th Launchpool, Binance allows BNB and FDUSD holders to farm ETHFI tokens from Ether.Fi, a liquid restaking protocol for ETH. How to participate in the Ether.Fi Launchpool and receive ETHFI tokens
Ether.Fi in the spotlight at the Binance Launchpool
For its 49th Launchpool, the Binance platform welcomes the liquid restaking protocol Ether.Fi and its ETHFI token.
With Binance’s Launchpool, users can earn tokens from featured projects by staking their cryptocurrencies, usually BNB and FDUSD.
Thus, for the Launchpool dedicated to Ether.Fi, BNB and FDUSD holders will be able to stake their tokens in pools to farm ETHFI tokens with no additional effort.
Once the farming period is over, Ether.Fi Lauchpool participants will share 20 million ETHFI tokens (2% of the total supply) in proportion to their contributions to the BNB and FDUSD pools.
Then, on March 18 at 12:00 UTC, the ETHFI token will be listed on Binance. Users who have received ETHFI tokens will then be able to sell their tokens to generate profits, or keep them and participate in the governance of the protocol.
Ether.Fi Launchpool news roundup:
- Farming period open until March 17 (23:59 UTC);
- 16 million ETHFI will be distributed to BNB stakers and 4 million to FDUSD stakers;
- The number of tokens distributed to each user will depend on the quantity of BNB and/or FDUSD placed in the pools and on the overall farming time;
- The ETHFI token will be listed on Binance on March 18 at 12:00 UTC with pairs including BTC, USDT, BNB, FDUSD and TRY.
What is Ether.Fi and what is ETHFI used for?
Ether.Fi is a liquid restaking protocol based on the original EigenLayer restaking protocol. It offers users another source of return for their ETH tokens placed in staking.
At the time of writing, the Ether.Fi protocol is the industry leader, with a total locked-in value of around $3 billion.
Here’s how Ether.Fi’s TVL has evolved since its launch:
As far as the ETHFI crypto is concerned, it will primarily play a role in the governance of the Ether.Fi protocol. ETHFI holders will be able to have an impact on certain aspects of the protocol via governance votes, such as:
- Protocol fees and distribution;
- Key Ether.Fi updates;
- Ether.Fi cash flow.
