Thena ($THE) is a DEX on the BNB Chain and opBNB, the second project on the Binance Airdrops Portal (the first project was $BANANA which has been listed).
Users who have staked $BNB in Fixed Staking or Simple Earn on Binance will be able to share the reward pool of 7% of the total supply (21.75 million $THE tokens) of the Thena project. Because many brothers say that BNB hodlers are the kings of all trades.
A DEX project on the BNB chain, launched at the beginning of 2023. The market capitalization before the news was only $10 million, it has already increased 5 times. These days, many projects on the BNB side are being listed, so brothers should pay more attention to this ecosystem!
Brothers who are holding BNB should participate in Binance Earn (including Fixed Staking & Simple Earn) to have the opportunity to receive Airdrop tokens from future Binance 'HODLer Airdrops' events.
Now let's explore the Thena $THE project with Allinstation below.
1/ What is Thena?
Thena is a DEX on the BNB Chain and opBNB, providing features such as spot trading, perpetual contracts, and cross-chain trading, aiming to become the liquidity hub for the ecosystem.
The highlight of Thena is the successful implementation of the ve(3,3) mechanism on the BNB Chain, an improvement from the idea of Andre Cronje after the failure of Solidly. Although the Thena token was launched at the beginning of 2023, Thena has just appeared on Binance and organized an Airdrop for users who stake BNB through Simple Earn.
2/ Highlights of the Thena project
THENA is a DEX that supports token swaps, cross-chain trading on more than 50 blockchains, and staking to receive rewards. Notably, users can buy tokens and make payments directly through their bank accounts.
The highlight of THENA is the ve(3,3) mechanism, which encourages long-term user engagement. This mechanism works as follows:
- Token lockup to vote: Users lock THE tokens for a certain period to receive veTHE. The longer the lockup period, the greater the voting power.
- Rewards for favorite Pools: Weekly, the Liquidity Pool with the most votes will receive rewards. veTHE holders vote for their favorite Pool (usually the one with high volume). If the Pool wins, the rewards are distributed evenly among the voters.
- Share of transaction fees: Voters also receive 90% of the transaction fees generated by the Pool.
Other Thena products include:
+ ALPHA (trade Perpetual with leverage).
Alpha is a Perpetual Derivatives trading platform developed through the collaboration between Thena and Symmio, allowing users to execute Long or Short orders based on predictions of future asset prices.
Alpha supports trading of more than 270 assets on the BNB Chain and opBNB, with a maximum leverage of up to 60x.
+ ARENA
Arena is a trading arena where trading competitions are organized, organized by ARENA or partner organizations. Participants trade Thena and partner tokens, with the winners determined based on P&L performance.
+ WARP: Launchpad platform for token sales.
+ theNFT: A collection of over 1700 NFTs, holders receive 10% of trading fees and royalties.
+ THENA ID: Wallet naming service with a starting fee of 5 USDT, increasing with name length.
3/ Tokenomics of the Thena project
Token name: Thena (THE)
Total token supply: 206,863,770 THE
Maximum total supply: 310,000,000 THE
Token Airdrops reward for holders: 21,750,000 THE (7% of maximum total supply)
Network: BNB Chain
Contract: 0xF4C8E32EaDEC4BFe97E0F595AdD0f4450a863a11
Trading pairs: THE/BTC, THE/USDT, THE/BNB, THE/FDUSD and THE/TRY (Seed tag)
– veTHE Protocol Airdrop (19%): Distributed to projects participating in THENA's ve(3,3) model, not locked.
– THE/veTHE Airdrop for Users (25%): For initial users and THENA partners, not locked and airdropped in batches.
– THE/veTHE Airdrop for theNFT Minters (9%): For theNFT minters, 40% locked veTHE for 2 years and 60% unlocked THE.
– Ecosystem Grant (25%): Support for projects developing the THENA ecosystem, not locked and used flexibly.
– Team (18%): Allocated to the team, 40% locked veTHE for 2 years and 60% THE locked for 1 year.
THE token utilities:
+ Used as rewards for farming activities.
+ Stake THE to receive veTHE.
veTHE token utilities:
+Governance: Holders have the right to vote on protocol and pool activities they participate in.
+ Receive weekly veTHE token rewards
+ Receive a portion of transaction fees.
4/ Investors
Thena has raised over $600,000 from Orbs, a Layer 1 blockchain launched in 2019 to compete with ETH.
Revenue milestone: Over $25 million in revenue has been distributed to token holders since launch, solidifying THENA's position as a sustainable DeFi project.
Support from BNB Chain: Recently received funding from BNB Chain for the THENA ARENA social trading platform.
5/ Partners
Infrastructure: Particle Network, Paraswap, 1inch, SYMMIO.
- Stablecoins: Frax Finance, Lista DAO, QiDao,…
- Liquid Staking: etherfi, Stader, ankr, Frax Finance, Lista DAO.
- Lending: Radiant, Venus, Segment,…
6/ Team
The team is anonymous, however, it can be easily deduced that the team has a close relationship with the BNB team and has also been verified before being listed on Binance, not a simple process.
7/ Roadmap of Thena
In 2024, Thena will focus on upgrading existing products and launching new features:
New versions: ARENA V1, THENA V3, launch ALPHA V0.X on opBNB, ALPHA V1, THENA VIP and WARP Launchpad Accelerator.
New products: THE Card & Fiat Off-Ramp.
Ecosystem and community: THE Ambassador Program and THE Club.
Social channels of the Thena project
● Website https://www.thena.fi
● Medium https://medium.com/@ThenaFi
● Twitter https://twitter.com/ThenaFi_
● Discord https://discord.gg/thena
● Telegram https://t.me/Thena_Fi
● Docs https://docs.thena.fi/thena/official-links
Summary
The article on Allinstation has introduced and analyzed the Thena project. In general, Thena is a pioneering project applying the ve(3,3) model on the BNB Chain, currently holding the Top 3 position among DEX platforms in the ecosystem, just behind PancakeSwap and Uniswap.
