Leading cryptocurrency exchange Binance has announced Ether.fi as the next project that will be featured on the Binance Launchpool staking platform.Between March 14 at 00:00 UTC and March 17 at 23:59 UTC, users will be able to earn Ether.fi (ETHFI) tokens on Binance simply by staking BNB or FDUSD. The staked coins can be withdrawn at any time, and you’ll be able to keep your ETHFI token rewards even if you withdraw before the farming period concludes.Earn ETHFI Tokens on BinanceBinance plans to distribute 2% of the total ETHFI token supply to users on Launchpool. This translates to 20 million ETHFI tokens out of a total supply of 1 billion tokens.80% of these rewards will be distributed to BNB stakers, while the FDUSD pool will receive 20% of the rewards. However, this doesn’t necessarily mean that you will earn more ETHFI if you stake BNB rather than FDUSD. It all depends on how big the size of your stake is relative to the size of the staking pool you’ve selected. Introducing @ether_fi $ETHFI on #Binance Launchpool!
Farm $ETHFI by staking #BNB and $FDUSD.
➡️ https://t.co/2oxm5eZDSP pic.twitter.com/USkSFl2uw0In addition to featuring Ether.fi on its Launchpool platform, the Binance exchange will also be listing the ETHFI token for trading. Trading will go live on March 18 at 12:00 UTC, and ETHFI will be available in trading pairs against BTC, USDT, BNB, FDUSD, and TRY.It is worth noting that Binance will be listing ETHFI with the “Seed Tag”, which is used to label crypto projects that are still very early in their development. Cryptocurrencies with this tag were previously known in the “Innovation Zone”. The purpose of the Seed Tag is to let users know that the cryptocurrency might be more volatile and risky compared to most other cryptos listed on the exchange.Ether.fi is a liquid staking protocol built on the Ethereum blockchain where users stay in control of their private keys. Users who stake their ETH via Ether.fi receive the eETH token, which can be exchanged back for ETH when the user wishes to unstake.Another notable aspect in which Ether.fi is different from other liquid staking protocols is that the eETH token is re-staked to generate additional rewards. The eETH token’s restaking rewards are generated through integration with EigenLayer. eETH holders don’t need to perform any additional actions to benefit from restaking rewards, as the protocol handles that portion automatically.If you want to earn ETHFI tokens, the first thing you’ll need is a Binance account.Create Binance AccountPlease keep in mind that only users who complete an identity verification process with Binance are eligible to participate in Ether.fi token farming on Binance Launchpool.Once your account is ready, you’ll need some BNB or FDUSD tokens to stake. If you already own these tokens, you can deposit some to your Binance account. Otherwise, Binance offers plenty of ways of buying these tokens with either crypto or fiat. After your account is verified and loaded up with some BNB or FDUSD, head over to the menu on the top side of the Binance interface and select “More”. Then, go to “Launchpad & Launchpool”.Then, find the available Ether.fi farming pools. Depending on which tokens you want to stake, select BNB Pool or the FDUSD Pool. Next, follow the instructions provided by the exchange.Please note that the image below is from the previous Launchpool project, as Binance hasn’t yet updated its Launchpool website to feature Ether.fi at the time of writing this article.As a final note, here’s a quick breakdown of key dates and information about the Ether.fi Launchpool campaign: