Binance Wallet has unveiled its eighth Exclusive Token Generation Event (TGE), spotlighting StakeStone, an omnichain liquidity protocol designed to tackle decentralized finance (DeFi) liquidity fragmentation.
According to Binance Wallet’s announcement on April 3 via X, the event is scheduled to run from 08:00 AM to 08:30 AM UTC. During this window, users can subscribe to claim a share of the 10 million STO tokens allocated for marketing purposes. Further details regarding distribution will be revealed later.
StakeStone aims to address the challenge of liquidity dispersion across multiple blockchains, often leading to inefficiencies and high transaction costs. As an omnichain solution, it streamlines liquidity movement between blockchains, enhancing accessibility for users and protocols.
The platform uses two primary tokens: STO (StakeStone Token) and veSTO (voting-escrowed STO). Built on LayerZero technology, STO functions as an Omnichain Fungible Token (OFT), allowing seamless transfers across different chains without requiring the traditional burn-and-mint mechanism. It also serves as the governance token of the StakeStone ecosystem. Meanwhile, veSTO is a derivative token obtained by locking STO for a set period, rewarding long-term holders with increased governance influence and enhanced staking rewards.
Users must set up and fund their Binance Wallet (Keyless) before accessing the Exclusive TGE Subscription Page through their Binance account to participate in the TGE. After connecting their wallet and depositing Binance Coin (BNB), participants can subscribe to the event and track their allocated STO tokens once their transactions are confirmed.
Binance Wallet’s Exclusive TGEs have previously introduced high-potential projects, including Bedrock, Plume Network, BR Contract, and Particle Network. While these events offer opportunities to engage with emerging Web3 initiatives, Binance advises users to conduct thorough research before participating.
Additionally, Binance expanded both its VIP Loan program and spot trading offerings. These updates aim to provide institutional investors and high-net-worth individuals with more flexible financial solutions while enhancing trading efficiency for all users.
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