Token

DeFi

<p>The ETHFI token, launched on Binance on March 18, 2024, is the governance token for Ether.Fi, a prominent liquid restaking protocol.</p> 
<p>After an initial price of $4.13, ETHFI experienced a 18% dip and was trading at $3.49 within the first five minutes on the exchange. The total trading volume during this period surpassed $176 million, according to TradingView.</p> 
<figure id="attachment_35588" aria-describedby="caption-attachment-35588" style="width: 100%" class="wp-caption alignnone">
 <img fetchpriority="high" decoding="async" class="wp-image-35588 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/03/ETHFIFDUSD_2024-03-18_17-47-01.png" alt="ETHFI/FDUSD 5 min price chart" width="1534" height="857" title="Ether.Fi Token (ETHFI) Debuts on Binance at $4.13, Price Dips 18% 2" srcset="https://crypto.ro/en/wp-content/uploads/2024/03/ETHFIFDUSD_2024-03-18_17-47-01.png 1200w, https://crypto.ro/en/wp-content/uploads/2024/03/ETHFIFDUSD_2024-03-18_17-47-01-300x168.png 300w, https://crypto.ro/en/wp-content/uploads/2024/03/ETHFIFDUSD_2024-03-18_17-47-01-1024x572.png 1024w, https://crypto.ro/en/wp-content/uploads/2024/03/ETHFIFDUSD_2024-03-18_17-47-01-768x429.png 768w, https://crypto.ro/en/wp-content/uploads/2024/03/ETHFIFDUSD_2024-03-18_17-47-01-750x419.png 750w, https://crypto.ro/en/wp-content/uploads/2024/03/ETHFIFDUSD_2024-03-18_17-47-01-1140x637.png 1140w" sizes="(max-width: 1534px) 100vw, 1534px">
 <figcaption id="caption-attachment-35588" class="wp-caption-text">
  ETHFI/FDUSD 5 min price chart
 </figcaption>
</figure> 
<h2 id="staking-on-binance-launchpad-nets-token-allocation">Staking on Binance Launchpad Nets Token Allocation</h2> 
<p>Over $2 billion worth of the FDUSD stablecoin and roughly $10 billion worth of BNB were staked on the Binance Launchpad to participate in the ETHFI distribution.</p> 
<p>Launchpad participants received an amount of ETHFI based on their staked amount.</p> 
<h2 id="ethfi-tokenomics-and-distribution">ETHFI Tokenomics and Distribution</h2> 
<p>The maximum supply of ETHFI is capped at 1 billion tokens. 20 million tokens were allocated for distribution through the Binance Launchpad, while another 60 million were distributed via an airdrop that concluded on March 15th.</p> 
<p>A further 50 million tokens are slated for distribution after a “season two” of the airdrop program. Investors and core contributors will receive vested allocations of the token over a two-year and three-year period, respectively. The initial circulating supply of ETHFI is set at 115.2 million tokens.</p> 
<p>According to <a href="https://defillama.com/protocols/Liquid%20Restaking" rel="nofollow noopener" target="_blank">DeFiLlama</a>, Ether.Fi’s total value locked (TVL) has seen a significant increase of 117% in the last 30 days, reaching nearly $3 billion. Restaking, a strategy employed by ETH stakers to generate additional yield, is a core function of the Ether.Fi protocol.</p> 
<p><a href="https://crypto.ro/en/wp-content/uploads/2024/03/image_2024-03-18_17-44-30.png"><img decoding="async" class="alignnone wp-image-35587 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/03/image_2024-03-18_17-44-30.png" alt="image 2024 03 18 17 44 30" width="1122" height="399" title="Ether.Fi Token (ETHFI) Debuts on Binance at $4.13, Price Dips 18% 3" srcset="https://crypto.ro/en/wp-content/uploads/2024/03/image_2024-03-18_17-44-30.png 1122w, https://crypto.ro/en/wp-content/uploads/2024/03/image_2024-03-18_17-44-30-300x107.png 300w, https://crypto.ro/en/wp-content/uploads/2024/03/image_2024-03-18_17-44-30-1024x364.png 1024w, https://crypto.ro/en/wp-content/uploads/2024/03/image_2024-03-18_17-44-30-768x273.png 768w, https://crypto.ro/en/wp-content/uploads/2024/03/image_2024-03-18_17-44-30-750x267.png 750w" sizes="(max-width: 1122px) 100vw, 1122px"></a></p> 
<p>Users receive liquid restaking tokens (LRTs) that can be used on other DeFi protocols alongside loyalty points convertible into future token airdrops.</p>

Ether.Fi Token (ETHFI) Debuts on Binance at $4.13, Price Dips 18%

Table of Contents

crypto.ro global

Other articles published on Mar 18, 2024

Shiba Inu Interest Hits 2-Year High On Google: The 10 Countries With The Most Searches For Dogeco...

Solana Memecoin Skyrockets to $620,000,000 Market Cap Hours After Launch Amid Multiple Exchange L...

Is Polygon Price Ready For $1.3 Bulls Set Stage For Recovery?

Coinbase Boosts Altcoin Prospects with Listing Announcements

XRP Price Prediction: Will Ripple’s XRP Break The $1 Mark?

Navigating High Returns: Shiba Inu (SHIB), Ethereum (ETH), and Furrever Token as Your Guide to Ma...

Join our free newsletter for daily crypto updates!