Data sources: Golden Finance, Binance, Thena official website, white paper compilation: Golden Finance

11, 2024 On March 26, Binance announced that the Binance HODLer airdrop has now launched the second phase of project Thena (THE), a DEX and liquidity-providing network built on BNB Chain and opBNB. Users can use BNB to subscribe for regular and/or current products on the currency earning platform from 08:00 on November 06, 2024 to 07:59 on November 14, 2024 (East Eighth District time), and will receive airdrop allocations. THE HODLer airdrop page is expected to go live within twelve hours, and new tokens will be distributed to users’ spot wallets 1 hour before trading begins.

About Binance HODLer Airdrop

Binance HODLer Airdrop takes a historical snapshot based on the user’s BNB capital-guaranteed and profitable currency holdings, and rewards BNB holders with token airdrops. By using BNB to subscribe for regular and/or current products on the Token Earning Platform, users will automatically be eligible for HODLer airdrops (as well as Launchpool and Megadrop rewards).

Different from other ways of earning coins that require continuous operations, HODLer airdrops reward users in the form of backtracking, providing a simpler way to earn additional coins. By using BNB to subscribe for coin-earning platform products, users can automatically receive token rewards.

1. Details of THE HODLer airdrop

Token name: Thena (THE)

Token Total current supply: 206,863,770 THE

Maximum supply of tokens: 326,120,291 THE

Total HODLer airdrop tokens: 21,750,000 THE (7% of the maximum token supply)

Smart contract details: Binance Chain, 0xF4C8E32EaDEC4BFe97E0F595AdD0f4450a863a11

BNB position hard cap: single user BNB flatAverage number of positions/Total average number of BNB positions*100% ≤ 4%, (if the position ratio is greater than 4%, the BNB position ratio will be calculated as 4%)

2. Introduction to Thena

THENA is a community-driven decentralized exchange that uses the self-optimizing ve3,3 model to provide liquidity needs for the BNB Chain project. THENA was founded by a group of experienced DeFi developers and is committed to breaking through the barriers of the current DeFi market and building a more inclusive, easy-to-use, and efficient decentralized financial platform. The team’s vision is to make THENA a “SuperApp” in the DeFi field, meeting the needs of various assets through modular liquidity solutions, including stablecoins, liquid pledged tokens (LSTs), and real-life Asset tokenization (RWAs), Memecoins and AI tokens, etc. At the same time, THENA is committed to making on-chain transactions easier, so that novices to experienced users can enjoy a CEX-level user experience.

Based on the trading center and liquidity layer built by BNB Chain and opBNB, THENA ecosystem covers a comprehensive range of products and services, including:

THENA: A spot DEX where users can exchange, acquire digital assets and generate passive income.

ALPHA: Perpetuals DEX offers trading on over 270 cryptocurrency pairs with up to 60x leverage.

ARENA: A trading competition social platform that provides users with a gamified experience and growth hacking tools for THENA’s partners.

WARP: (Launchpad – coming soon)

3. Thena Token Economics 1. Tokens (THE, veTHE, theNFT)

$THE

$THE is the BEP-20 of the protocol Utility tokens are issued with two main goals:

1. Promote liquidity: By serving as a liquidity mining reward, $THE is used to incentivize deep liquidity, allowing for optimal trading conditions.

2. Support decentralized governance: $THE can be used to participate in the governance of the platform and promote its sustainable development. The long-term goal is to achieve true decentralization.

veTHE

veTHE is $THE’s ERC-721 governance token that exists as an NFT (non-fungible token).

• Users can lock their $THE for up to two years to earn veTHE. The longer the locking time, the more veTHE voting rights they receive.

•In order to encourage users to continue to lock in and participate in the long term, the user’s veTHE balance will increase over time Decrement until the lock period ends and reaches zero.

•veTHE positions can be increased, divided, and resold on the secondary market.

•veTHE holders can share in platform revenue (including 90% of total transaction fees and 10% of voting incentives deposited in the protocol).

theNFT

theNFT is an ERC-721 founder token that exists in the form of NFT and is a non-dilutable NFT collectible.

•theNFT can be used to stake to participate in revenue sharing.

•The staking pool will collect 10% of the total transaction fees from THENA, as well as royalties from theNFT’s secondary market transactions.

2. Initial Supply and Issuance Plan

Initial Supply

veTHE Protocol Airdrop

19% of the initial supply is allocated as an airdrop to protocols that demonstrate a willingness to work with THENA’s liquidity layer. When evaluating the available protocols, a variety of factors such as TVL (Total Locked Volume), transaction volume, and product performance were considered, while seeking to strike a balance between native BNB protocols and cross-chain protocols. The list of protocols accepting airdrops will be updated once finalized.

$THE/veTHE User Airdrop

•25% of the initial supply is allocated to regular users of the existing BNB chain protocol and new users joining through THENA.

•Users are selected based on the following behaviors that promote long-term stability of the protocol:

•Lockup , overlay, hold

•Participate in governance

•Continue to support in the face of challenges< /p>$THE / veTHE airdropped to theNFT minter

•9% of the initial supply is allocated to minters of theNFT and can be claimed directly when THENA goes live.

•The distribution ratio of $THE and veTHE airdropped by theNFT minter:

•40% veTHE locked for 2 years

•60% funded by $THE

ecosystem

•25% of initial supply Allocated to a dedicated fund to support various projects designed to accelerate THENA’s growth.

•The core team will provide comprehensive support to the selected projects, including smart contract development, marketing and business development.

Team Allocation

•18% of the initial supply is allocated to the team to ensure its long-term Committed to THENA's success.

•The ratio of team allocation between veTHE and $THE is as follows:

•60% is veTHE locked for 2 years

•40% is $THE released linearly for 2 years (1-year lock-up period)

•The core team ensures alignment with THENA’s interests by allocating voting escrow tokens, allowing them to participate in protocol growth with a long-term perspective.

Initial Liquidity Provider

•4% of the initial supply is used to pair with $BUSD or $BNB to provide sufficient initial liquidity.

2. Token issuance

ve(3,3) dynamic model

•THENA’s The ve(3,3) dynamic model aligns the main stakeholders of a typical AMM on the BNB chain, including veTHE holders, liquidity providers (LPs), traders, and the protocol itself.

veTHE holders: Incentivize voting to support the fund pool with the largest transaction volume (transaction The larger the amount, the more handling fees are generated) or the protocol deposits voting incentives to activate the liquidity pool. In this way, protocols can create positive feedback loops, especially when token trading volumes are high.

Liquidity Providers (LPs): Incentivize participation in liquidity provision through token issuance based on "real return" indicators.

Traders: Benefit from low slippage and liquidity powered by advanced vAMM and sAMM technology.

Protocol: Access to a collaboration-oriented liquidity layer, enjoy capital-efficient trading conditions, and incentivize liquidity by providing "bribes" to veTHE holders sex.

Issuance specifications

•Weekly issuance (initial): 2,600,000 $THE

•Every Weekly issuance decay: 1%

•Developer wallet allocation: 2.5% (reduced from the original 4%)

•Weekly veTHE heavy base: highest 30%

• Liquidity provider allocation: 67.5% (additional 1.5% from developer allocation)

•Maximum supply under 1% weekly decay: 310,000,000 $THE (corrected data, originally 315M)

Changes in total supply over time. Note: The number of circulating tokens will be significantly reduced.

4. Thena Roadmap