Lorenzo Protocol is set to kick off an exclusive Token Generation Event (TGE) through Binance Wallet, in collaboration with PancakeSwap. Taking place on the BNB Smart Chain, this event features a $200,000 subscription pool for BANK tokens, offering users an early opportunity to acquire the protocol’s native governance and utility asset.
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 Raise: $200,000 (in BNB)
- Tokens Available: 42,000,000 BANK (2% of the total supply)
- Token Price: $0.0048 USD/BANK (pay in BNB)
- Maximum Contribution Limit: 3 BNB per user
- Allocations will be distributed proportionally according to each user’s total deposit compared to the overall pool
- Qualification: Users must have acquired Binance Alpha tokens using either Binance Wallet (Keyless) or through Spot/Funding accounts on Binance Exchange during the 30 days leading up to the TGE
- BANK will be available for trading on PancakeSwap starting after April 18, 2025, at 11:00 AM UTC.
What is Lorenzo Protocol?
Lorenzo Protocol is a pioneering decentralized finance (DeFi) platform that provides liquidity for Bitcoin (BTC), enabling users to earn yield on their BTC while maintaining liquidity. By separating principal and yield through tokenized representations, Lorenzo empowers BTC holders to access DeFi opportunities across multiple chains, without giving up custody or long-term upside.
Follow Lorenzo Protocol for more information:
Lorenzo Protocol homepage – Source: Lorenzo
What is BANK?
BANK is the governance token of Lorenzo Protocol, playing a central role in the protocol’s operations and development. Its key utilities include:
- Staking: Users can lock BANK to receive veBANK, which entitles them to future BANK rewards and participation in governance decisions.
- Governance: Holders of veBANK can vote on key protocol matters such as product updates, fee structure changes, allocation of ecosystem growth funds, and token emission schedules.
How to participate in a WIO event?
To join, users must ensure their Binance app is updated to the latest version. Then:
- Participation is limited to users holding BNB on the BNB Smart Chain, accessed via a keyless, backed-up Binance Wallet.
- If you don’t already have BNB, you can either swap directly within Binance Wallet or transfer from your Binance Spot account.
- Once the subscription window opens, commit your BNB to participate.
- Token allocations will be distributed proportionally based on total BNB committed, and users will be able to claim their tokens after the event concludes.
Token Allocation Formula
Your token allocation will be calculated based on the proportion of BNB you commit relative to the total pool. The formula is:
(Your BNB committed ÷ Total BNB committed) × $200,000 (equivalent in BNB)
After the IDO ends, the system will automatically refund any excess BNB to your wallet.
Important Reminders
- BANK tokens will not be tradable until the subscription period concludes. Treat any tokens claiming to be BANK before this date as fake. Always verify the official contract address through Lorenzo Protocol’s official channels.
- The $200,000 allocation pool includes all network and gas fees that users may incur during the token distribution process.
- Lorenzo Protocol will allocate an additional 84,000,000 BANK tokens to other marketing initiatives, distributing them in separate batches alongside this exclusive TGE event. The Binance team will share further details in upcoming announcements.
- This campaign demonstrates Binance Wallet’s continued support for Web3 innovation, offering users early access to high-potential blockchain projects like Lorenzo Protocol.
Read more: Binance vs Binance US: What are the Key Differences?
