Well, dash it all! Lorenzo Protocol’s little scamp of a token, BANK, has performed a veritable high jump of 150% in a mere six hours post-debut. Jolly good show! 🎩💰
Its meteoric ascent since waltzing onto multiple platforms—including the rather swanky Binance’s Alpha Market and the dizzying 50x leverage BANKUSDT perpetual contract on Binance Futures—has left onlookers gasping like a schoolboy who’s just discovered absinthe.
What Ho! Is This Newfangled BANK Token on Binance Futures Then?
The Token Generation Event, or TGE if one fancies abbreviations, took place on April 18 via the Binance Wallet, hand in glove with PancakeSwap. Lorenzo Protocol, ever the charming host, raised a neat $200,000 by selling 42 million BANK tokens at a refreshingly modest $0.0048 each—a scant 2% of the whole shebang.
Now, BANK flits about the trading parlors of PancakeSwap, Bitget, and CoinEx like a socialite at a country house party. This debutante soon swelled to a market cap around $22 million, which is no small potatoes.
“$BANK IDO successfully concluded! 🎉
Hearty thanks to all who partook and cheered Lorenzo’s launch!
Final tallies:
• A tidy 62,117 $BNB pledged
• An eyebrow-raising 18329% oversubscription
• Funding goal gobbled up in under a minuteOur gratitude overflows…”
— Lorenzo Protocol (@LorenzoProtocol) April 18, 2025
For the uninitiated, BANK is the governance and utility token of Lorenzo Protocol, a plucky DeFi platform dedicated to making Bitcoin liquidity less of a bother. Users can earn yield on their BTC stash without surrendering custody—no need to let go of your precious bits and bytes! 🥳
It employs financial gizmos such as Liquid Principal Tokens (LPTs) and Yield-Accruing Tokens (YATs)—financial mumbo jumbo to most but rather nifty in practice.
Bank-holders can stick their tokens in a metaphorical jar to mint veBANK, which grants governance privileges and a slice of future emissions. Think of it as your ticket to the inner circles of crypto aristocracy.
Built atop a Cosmos-based Ethermint appchain, Lorenzo Protocol allows BTC restaking and chummy interoperability with Bitcoin’s Layer 1. It supports the issuing and settling of BTC-backed assets on-chain, which is as posh as it sounds.
The BANK/USDT perpetual contract listing on Binance Futures, a platform where traders frolic with perpetual contracts at dizzying leverage, gave this token another leg up. Binance has a penchant for showcasing new tokens on the BNB chain for early futures gambits—one might say BANK is the belle of this particular ball.
Whether Binance will shower this fledgling token with further listings remains to be seen, but with the new community voting system, small market cap projects have never looked so hopeful. Fingers crossed, old sport! 🤞
Read More
- Lucky Offense Tier List & Reroll Guide
- Indonesian Horror Smash ‘Pabrik Gula’ Haunts Local Box Office With $7 Million Haul Ahead of U.S. Release
- Best Crosshair Codes for Fragpunk
- Ultimate AI Limit Beginner’s Guide [Best Stats, Gear, Weapons & More]
- League of Legends: The Spirit Blossom 2025 Splash Arts Unearthed and Unplugged!
- ‘Severance’ Renewed for Season 3 at Apple TV+
- Unlock All Avinoleum Treasure Spots in Wuthering Waves!
- How To Find And Solve Every Overflowing Palette Puzzle In Avinoleum Of WuWa
- Ultimate Half Sword Beginners Guide
- Skull and Bones Year 2 Showcase: Get Ready for Big Ships and Land Combat!
2025-04-18 21:31