Binance Wallet Prepares To Host Lorenzo Protocol Token Generation Event On PancakeSwap
In Brief
Binance Wallet is set to host a token generation event for the Lorenzo Protocol in partnership with PancakeSwap today, from 09:00 AM to 11:00 AM UTC.
Self-custody Web3 wallet Binance Wallet announced its intention to facilitate a Token Generation Event (TGE) for the Lorenzo Protocol in partnership with decentralized exchange PancakeSwap.
Lorenzo is positioned as an institutional-grade asset management protocol that offers yield-generating tokens underpinned by a range of investment strategies. Two key offerings from Lorenzo include stBTC—a Bitcoin Liquid Staking Token that leverages Babylon’s staking infrastructure—and enzoBTC, a wrapped Bitcoin product that combines native yields from Lorenzo with on-chain liquidity farming returns. These products are designed to cater to both institutional and advanced retail investors seeking yield exposure within a decentralized framework.
The TGE campaign will involve a fundraising goal of $200,000 in BNB through the issuance of 42 million BANK tokens, representing 2% of the total supply. Each token is priced at $0.0048 USD in BNB, with a maximum subscription limit of 3 BNB per Binance Wallet user. This structure is designed to promote broad participation while maintaining fairness in allocation.
Eligibility for participation requires users to have acquired Binance Alpha tokens via Binance Wallet or through the Spot/Funding accounts on Binance Exchange within a defined timeframe—specifically between March 19th and April 17th. This condition encourages engagement with Binance’s ecosystem in advance of the TGE.
Allocation will be determined on a pro-rata basis, meaning users will receive tokens proportional to their subscription amount in relation to the total deposited during the event. There will be no vesting period, and trading will commence immediately after the TGE concludes, on April 18th, at 11:00 AM UTC, via Binance Wallet DEX or PancakeSwap. This immediate liquidity access may appeal to users interested in early trading opportunities following token launch.
How To Participate In Lorenzo Protocol Token Generation Event
From April 18th, between 09:00 AM and 11:00 AM UTC, eligible participants can access the event by visiting Binance Wallet, selecting the relevant activity banner, and following the provided instructions. This timeframe marks the official subscription window for the token offering.
In order to take part in the event, users must utilize a Keyless wallet that has been securely backed up and created within Binance Wallet. Each wallet holder on the BNB Smart Chain is subject to a maximum contribution limit of 3 BNB, ensuring a balanced distribution of tokens among participants.
Once the subscription period begins, users are invited to commit their BNB. The final allocation will be calculated on a pro-rata basis, which means the number of tokens distributed will be proportional to each user’s deposit relative to the total pool of funds submitted during the event. After the subscription period concludes, participants will be able to claim both their allocated tokens and any remaining unutilized funds. This process is designed to offer transparency and ensure fair access to the token distribution.
Disclaimer
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
