On Thursday, Binance Wallet, a leading digital asset storage and management platform under Binance, unveiled its eighth exclusive Token Generation Event (TGE), featuring StakeStone, an omnichain liquidity protocol.
The April 3 event offers participants a 30-minute window to subscribe for a share of StakeStone’s tokens.
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A new opportunity for crypto enthusiasts
According to Binance Wallet’s announcement on X, 10 million STO tokens have been designated for marketing purposes, with additional details expected in due course.
StakeStone primarily aims to tackle liquidity fragmentation in decentralised finance (DeFi), a challenge caused by dispersed assets across multiple blockchains.
The platform operates with two key tokens: STO and veSTO. STO, built on LayerZero technology, is an omnichain fungible token that can move across blockchains without burning or re-minting. It serves as StakeStone’s primary governance token. Meanwhile, veSTO is a derivative token obtained by locking STO, rewarding long-term holders with boosted staking rewards and governance power.
Africa included in the opportunity
This development is not exclusive to any particular region as African users can take advantage of the Binance Wallet TGE, except where regulatory restrictions apply. Africa has seen rapid growth in cryptocurrency adoption, with many users leveraging digital assets to navigate financial challenges, including limited access to traditional banking services.
For those in regions where Binance Wallet is accessible, this event presents an opportunity to engage with a promising liquidity protocol, which could support financial inclusion and more seamless cross-border transactions across the continent.
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How to participate in the TGE
Users must first set up and fund their Binance Wallet (Keyless) to engage in the TGE. Once logged into their Binance account, they can navigate to the Exclusive TGE Subscription Page to subscribe by connecting their wallet and depositing Binance Coin (BNB). Successful transactions will display the allocated STO tokens in participants’ accounts.
Binance Wallet’s exclusive TGEs have historically introduced high-quality projects. Previous events have showcased Bedrock, Bubblemaps, MyShell, and Particle Network platforms.
While these events offer promising opportunities, Binance Wallet encourages users to conduct thorough research before participating. As stated in their recent announcement, “Ensure sufficient BNB in your Binance Wallet (Keyless) before participating.”
With its latest TGE, Binance Wallet continues providing crypto investors access to innovative blockchain projects, reinforcing its role as a key player in the evolving DeFi system.