Binance Launchpool Announces Plans To Roll Out Trading Support for New Ethereum-Based Synthetic Dollar Protocol
Top global crypto exchange Binance has announced plans to support a new Ethereum (ETH)-based altcoin via its Launchpool platform. Binance Launchpool, which lets users stake coins to farm new assets, says its 50th project will be Ethena (ENA), a synthetic dollar protocol. Ethena aims to provide a crypto-native solution for money not reliant on traditional banking system infrastructure via a synthetic dollar called USDe. The protocol also offers a dollar-denominated savings instrument called “the Internet Bond.” Explains the project’s whitepaper, “The ‘Internet Bond’ will combine yield derived from staked Ethereum as well as the funding and basis spread from perpetual and futures’ markets, to create the first on-chain crypto-native ‘bond’ that can function as a dollar-denominated savings instrument for users in permitted jurisdictions.” Between March 30th and April 2nd, Binance users can stake BNB as well...