Ethena (ENA), Binance's 50th Launchpool project, was launched and opened for trading after a three-day farming period.
The altcoin, which was traded at around $0.67 in some pre-launch markets before the launch, is trading at $0.82 at the time of writing, with an impressive rise, and has a market value of around $1.17 billion.
In this sense, ENA represents one of Binance's most successful Launchpool launches in recent times. ETHFI, the previous Launchpool project, has a market value of $624 million at the time of writing. However, although ETFFI opened at around $ 3, it is currently trading at $ 5.43 with the increase it experienced.
However, Ethena had another airdrop campaign outside Binance. The airdrop campaign lasted for 6 weeks. The project, which is feared to be a ponzi structure similar to Anchor Protocol, which collapsed due to the promise of high returns to stablecoins, paid a certain return to those who staked its own stablecoin called USDe for 6 weeks during the airdrop period.
According to calculations, ENA tokens worth $6,400 were airdrop rewards for users who deposited $10,000 during the airdrop period on their platform.
However, it is useful to approach projects with caution, especially those that promise high returns to users who stake stablecoins.
According to the data in the ENA airdrop, the top 10 airdrop participants received a total of 27.9 million ENA ($17.85 million) and 9 of them deposited 23.6 million ENA ($15.11 million) to the exchanges. According to the data, a total of $550 million of ENA tokens were distributed to users as an airdrop.
According to unconfirmed observations, the campaign on Binance allocated an average of 0.5 ENA per hour to users who staked $1,000 of FDUSD on Launchpool.
*This is not investment advice.
View Comments (1)
To the moon