Binance recently launched the 49th project - EtherFi (ETHFI) on the Launchpool platform. The total allocation for this launch is 20,000,000 (2% of the total supply): 80% of the rewards will be distributed to those who stake BNB, and The remaining 20%, or 4,000,000 ETHFI, will be distributed to those who stake FDUSD, staking period: March 14 to March 18, 2024, token listing date: March 18, 2024, Binance Launchpool project Belongs to the must-win series. #BNB #内容挖矿

Without further ado, let’s talk directly about what EtherFi is:

EtherFi aims to simplify the staking process, allowing users to stake any amount of Ethereum (ETH) and receive eETH in return. The token can be re-staking locally for additional rewards, maximizing the earning potential for its holders.

Its integration with Eigenlayer allows EtherFi to open up a range of re-staking possibilities. eETH holders can participate in the validation of different software modules built on Ethereum, enhancing rewards while improving network security and efficiency.

Financing information:

March 2023: Received $5.3 million in seed funding led by North Island VC

A $23 million Series A round was completed in February 2024, led by Bullish Capital and CoinFund, with participation from Consensys, OKX Ventures and Draper Dragon.

The advantage of the project lies in its staking mechanism: it enhances decentralization through simplified non-custodial staking and lowers the staking threshold. The integration with Eigenlayer unlocks the re-staking function, allowing holders to realize multiple benefits.

Token situation:

The total supply of ETHFI is 1,000,000,000, and the circulating supply after listing is 115,200,000 (approximately 11.52% of the total token supply)

Binance Launchpool participation page: https://launchpad.binance.com/zh-CN

If you don’t have a Binance account, click the link below to register for additional benefits!

https://accounts.binance.com/zh-CN/register?ref=124977337