The native token of Lorenzo Protocol, BANK, recorded a 150% price surge within 6 hours after its official launch.
This sharp token increase is due to its listing on multiple platforms, including Binance's Alpha Market, and the launch of BANKUSDT perpetual contracts on Binance Futures with up to 50x leverage.
What is the new BANK token on Binance Futures?
The token generation event (TGE) was conducted today, April 18, through a partnership with PancakeSwap via Binance Wallet. Lorenzo Protocol raised $200,000 by selling 42 million BANK tokens, which is 2% of the total supply, at $0.0048 per token.
The token is currently trading on PancakeSwap, Bitget, and CoinEx. After its debut, BANK reached a market capitalization of approximately $22 million.
$BANK IDO successfully concluded 🚀
— Lorenzo Protocol (@LorenzoProtocol) April 18, 2025
A massive thank you to everyone who participated and supported Lorenzo's launch!
📊Final Results:
• 62,117 $BNB committed
• 18329% oversubscribed
• Funding target filled in under 1 min
We're grateful to all community members, and… https://t.co/OXZ1G6bzS1 pic.twitter.com/NzRzWTC5QN
BANK is the governance and utility token of Lorenzo Protocol, a DeFi platform aimed at strengthening Bitcoin liquidity.
The protocol allows users to earn returns without giving up Bitcoin custody. It uses financial primitive functions such as Liquid Principal Tokens (LPTs) and Yield-Accruing Tokens (YATs).
According to claims, BANK holders can stake their tokens to receive veBANK, which provides governance rights and a portion of future emissions.
Additionally, Lorenzo Protocol is built on a Cosmos-based Ethereum app chain. This enables Bitcoin restaking and interoperability with Bitcoin's Layer 1. This design supports on-chain issuance and settlement of BTC-based assets.
The listing of BANK/USDT perpetual contracts provides additional momentum to Binance Futures. Binance Futures is a derivatives platform where users can trade perpetual contracts with high leverage.
Binance has traditionally preferred new tokens from the BNB Chain for initial futures trading. BANK's sharp price increase and rapid market integration highlight strong initial interest in Lorenzo Protocol's approach to Bitcoin-based DeFi infrastructure.
Currently, it is difficult to predict whether this newly launched token will be listed on exchanges. However, Binance's new community vote has provided a positive hope for small market cap projects.
