Binance launchpool to list Ether.Fi project

ETHFIon native token from non-depository Ethereum liquid staking protocol Ether.Fiwill make its debut on Binance Launchpool this week.

Binance, the number 1 cryptocurrency exchange, will be farmering the Ether.Fi liquid staking protocol token from March 14, 2024 at 1 a.m. CET.

According to the announcement released on Tuesday, customers of the crypto exchange will be able to deposit BNB and FDUSD in pools for farmer ETHFI during a 4-day period.

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The digital coin will then be offered on the platform on March 18, 2024 with several trading pairs, including ETHFI/BTC and ETHFI/USDT.

Ether.Fi has designed a liquid staking protocol on Ethereum focused on decentralization that allows users to retain full control over their staked ethers.

The project raised $5.3 million from North Island Ventures and Chapter One in early 2023 and recently closed a $27 million Series A round led by Coinfund and Bullish Global.

As a reminder, liquid staking allows users to stake tokens while retaining the ability to invest locked funds in other protocols.

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In terms of tokenomics, ETHFI has a total offering of 1 billion tokens and an initial outstanding offering of 115.2 million tokens. Binance will farmer up to 20 million units, or 2% of the total supply.

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