Binance to Support New Ethereum Liquid Staking Platform

Launchpool Project

Binance will soon support a new decentralized finance (DeFi) staking protocol, (ETHFI), through its Launchpool platform. Users can stake BNB and FDUSD to earn ETHFI tokens over four days starting March 14, 2024.

ETHFI Protocol

ETHFI aims to provide a secure way to stake Ethereum while maintaining self-custody. Binance has assigned a seed tag to ETHFI, indicating its lower liquidity and potential volatility. Users must pass quizzes every 90 days to acknowledge the risks.

Token Distribution

Binance Launchpool will distribute 20,000,000 ETHFI tokens, representing 2% of the total supply. The token will be listed on March 18, 2024, with trading pairs against BTC, USDT, BNB, FDUSD, and TRY.