Binance Launches Ethena (ENA) Protocol on Launchpool
Binance has added Ethena (ENA) to its Launchpool, a synthetic dollar protocol created by Arthur Hayes. The launchpool promises a total reward of 300 million ENA tokens. These rewards are airdropped to the user’s wallet as soon as they start farming the ENA token on the launchpad.
Binance Launchpad/launchpool has been known to be the cradle for quite a few successful projects the latest of which is the #ETHFI project which has seen a growth of more than 100% since its listing on the exchange. Other projects hosted in the launch are pool #Arkman, #STEPH, #AEVO #PIXEL and the list goes on.
This project is also likely going to be listed on the exchange as soon as the farming is over as this has been the tradition with previous launchpad & launchpool projects.
To get the #ENA token reward airdropped in your Binance wallet, you will need to participate in the #ENA token farming. To farm the token, the user will need to stake either #BNB the native token of Binance or stake #FDUSD, which is also the stablecoin the exchange supports. The farming is going to span just 3 days. The farming rewards are based on the volume of tokens staked by the user, the more BNB or FDUSD tokens the user stakes the more ENA tokens they can farm or are rewarded with.
How to Farm Ethena (ENA) on Binance Launchpool
Let’s take a look at how to farm Ethena (ENA) on Binance launchpool using your mobile device, you can also follow the steps when using your desktop app or through the website.
Firstly log into binance, and navigate your way to the launchpad. If you are using your mobile devices, looking at the diagram below, make sure you are on the Binance pro view where you have more features displayed and more tools available.
If you are sure you are on the binance pro view, click on the home icon which is on the bottom left of your mobile screen, you can see it in the diagram below.
After you do that check for the menu icons displayed at the top of the mobile home screen right below the total balance position. You can see that in the diagram below also. Click on the more icon from among the menu list indicated with the arrow in the diagram.
Clicking this button will bring up a screen with a lot more features available on Binance, navigate down and search for the launchpad icon. It is located under the earn subheading. You can see it illustrated in the diagram below.
After you locate this feature, click on it, and it will take you to the screen you are seeing below. You can see that there is the #FDUSD pool and the #BNB pool, select the pool you would like to stake your tokens in to start farming.
After you select the pool you would like to stake your tokens in, you will be taken to the next screen, where you just need to select the token you want to stake. Ensure you click the stake button on the token that is available in your wallet. If what you have is BNB, then you just need to click on the stake button in front of the BNB pool, and if what you have is FDUSD, you click on the stake button in front of the FDUSD pool.
After this, you are asked to input the amount you want to stake, confirm it and that is all, you are done staking, and farming the Ethena (ENA) token begins. You will be receiving the token at intervals for the next 3 days till the farming period is over.
Binance Launchpool & Launchpad has incubated several successful projects with the latest been the #ETHFI token project which was also launched and listed in the month of March, we are hoping this is another great project like many others. The project itself is created by a cryptocurrency big name Authur hayes who is the co-founder and former CEO of Bitmex.
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