ether.fi (ETHFI) - 49th project on Binance Launchpool 🔥🔥🔥

BINANCE - THE KING IS BACK

Binance has announced the 49th project on its Launchpool platform: ether.fi (ETHFI)

This article will provide information about the ether.fi project and how you can farm project tokens as soon as possible.

🔸What is ether.fi (ETHFI)? Use cases of the project

- ether.fi is a liquid staking protocol on Ethereum

To put it simply, you bring assets to stake but there are two options:

1. Stake ETH directly in your wallet

2. Stake assets that you have staked in other platforms such as Lido, Binance, ...

=> Earn yield, ether.fi points and EigenLayer points

- In addition, ether.fi also provides node service to help simplify and reduce the cost of running a node on Ethereum.

🔸Features on ether.fi

📍Staking

Stake ETH and staked tokens on other platforms (liquid staking token - LST) to receive yield, EigenLayer reward points, ether.fi points

📍DeFi

A place to synthesize protocols that allow users to use eETH and wETH for DeFi activities such as staking, adding pools, borrowing, voting to receive commissions...

📍Solo Stakes

User registers to become a node operator without staking ETH

📍Institutional staking

The feature allows organizations to join ether.fi's ETH Fund and stake ETH in large amounts to delegate node operations to platform partners

🔸Fund raising and investors

- ether.fi completed 2 rounds of funding with $32.3m

📍February 2030 - Seed round: 5.3 million USD led by Chapter One and North Island Ventures, and other investors

📍February 2024 - Series A: 27 million USD led by CoinFund and Bullish, and other investors such as ConsenSys, Arrington XRP Capital, OKX Ventures...

🔸Farm token $ETHFI

Users participate in the farm by staking BNB and FDUSD into pools to farm ETHFI for 4 days, starting at 7:00 Vietnam time March 14, 2024, ending at 6:59 Vietnam time March 18, 2024

📍Stake $BNB: 16,000,000 ETHFI used as reward (80%)

📍Stake $FDUSD: 4,000,000 ETHFI used as reward (20%)

🔸Token $ETHFI

Currently, information about the platform's token has not been announced

Currently, the projects in Binance Launchpool are receiving a lot of FOMO from the community. For those who love BNB + long-term holding, participating in launchpool farming is a must

Research article written by @Dân Chơi Call Kèo Contributor @crypto_Milll