The Lorenzo protocol will partner with PancakesWap to launch an exclusive token generation activity (TGE) through Binance Wallet. The campaign took place on BNB Smart Chain, providing a $200,000 subscription pool for bank tokens, providing users with an early opportunity to acquire local governance and utility assets for the protocol.
Event details
- Token name: Lorenzo protocol (bank)
- Blockchain: BNB Smart Chain
- Subscription window: April 18, 2025, from 09:00 am to 11:00 AM UTC
- Total salary increase: $200,000 (in BNB)
- Available tokens: 42,000,000 banks (2% of total supply)
- Token price: USD 0.0048/bank (BNB payment)
- Maximum contribution limit: 3 BNB per user
- Compared with the overall pool
- Qualification: Users must obtain Binance Alpha tokens using Binance Wallet (keyless) within 30 days before TGE or through a spot/fund account on Binance Exchange
- From April 18, 2025, UTC will be trading on pancakeswap starting at 11:00 am.
What is the Lorenzo protocol?
The Lorenzo protocol is a groundbreaking decentralized financing (DEFI) platform that provides liquidity for Bitcoin (BTC), allowing users to earn yields for their BTC while maintaining liquidity. By expressing principal and output by tokenization, Lorenzo enables BTC holders to access Defi opportunities in multiple chains without giving up custody or long-term upside.
Follow the Lorenzo protocol for more information:
Lorenzo protocol homepage – Source: Lorenzo
What is a bank?
Banks are the governance tokens of the Lorenzo protocol and play a central role in the operation and development of the protocol. Its main utilities include:
- Points: Users can lock banks to receive Vebank, which makes them eligible for future bank rewards and participate in governance decisions.
- Governance: Vebank holders can vote on key protocol issues such as product updates, fee structure changes, allocation of ecosystem growth funds, and token emission plans.
How to participate in WIO activities?
To join, users must ensure that their Binance app has been updated to the latest version. Then:
- Participation is limited to users who hold BNB on the BNB Smart Chain, which is accessed through a keyless, supported binance wallet.
- If you don’t have a BNB yet, you can exchange it directly in your Binance wallet or transfer it from your Binance Spot account.
- Once the subscription window opens, submit your BNB to participate.
- Token allocation will be allocated proportionally based on the total number of BNBs, and after the event is over, the user will be able to request their token.
Token allocation formula
Your token allocation will be calculated based on your proportion of BNB relative to the total pool. The formula is:
(Your BNB Commitment ÷ Total BNB Commitment) × US$200,000 (equivalent to BNB)
After the IDO is over, the system will automatically return the excess BNB to your wallet.
Important reminder
- Bank tokens will not be traded until the end of the subscription period. Treat any tokens that claim to be a bank as fake. Always verify the official contract address through the official channels of the Lorenzo Agreement.
- The $200,000 distribution pool includes all network and gas charges that users may incur during the token distribution process.
- The Lorenzo Agreement will allocate an additional 84,000,000 bank tokens to other marketing programs and distribute them separately with this exclusive TGE event. The Binance team will share more details in the upcoming announcement.
- The campaign demonstrates Binance Wallet’s ongoing support for Web3 innovation, providing users with early access to high-potential blockchain projects such as the Lorenzo protocol.
Read more: Binance vs Binance US: What are the key differences?
