Binance Wallet has revealed its eighth exclusive token generation event, spotlighting the omnichain liquidity protocol known as StakeStone.
In a recent announcement posted on April 3, the event is scheduled to occur from 08:00 AM to 08:30 AM UTC. During this timeframe, users can subscribe for a chance to receive StakeStone’s tokens. A total of 10 million STO tokens will be allocated for marketing purposes, with further information to be disclosed later.
StakeStone is a web3 initiative aimed at addressing the issue of liquidity fragmentation in decentralized finance, where liquidity is dispersed across numerous blockchains. This fragmentation complicates and increases the cost of moving assets. By functioning as an omnichain platform that enables smooth liquidity flow among blockchains, StakeStone presents a solution that boosts efficiency for both users and protocols.
The platform utilizes two main tokens: STO (StakeStone Token) and veSTO (voting-escrowed STO). STO is an Omnichain Fungible Token built on LayerZero technology. It allows for seamless transfers across various blockchains without the need for burning and re-minting, thereby enhancing its utility in multi-chain ecosystems. STO serves as the primary governance token within the StakeStone ecosystem.
Conversely, veSTO is a derivative token that is earned by locking STO for a specified duration. It aims to reward users for long-term commitment while amplifying their governance influence. Holding veSTO increases staking rewards and yields from liquidity provision.
To participate in the TGE, users must create and fund their Binance Wallet (Keyless). After logging into their Binance account, they can access the Exclusive TGE Subscription Page.
Once on the page, they can participate by linking their wallet and depositing Binance Coin (BNB). After the transaction is confirmed, users will be able to see how many STO tokens they have successfully subscribed to.
Binance Wallet’s Exclusive TGEs, including the one with StakeStone, are recognized for highlighting promising and high-quality projects. Previous events have featured Bedrock, Bubblemaps, MyShell, and Particle Network. However, users are encouraged to conduct thorough research before participating in any TGE.