What is Thena? Thena is an AMM on BNB Chain, with the goal of providing liquidity to the entire BNB Chain ecosystem. Has a TVL of nearly $150M and is growing since its launch on January 5, 2023 until now.
So what is Thena? What is special about it that makes it grow so fast? Let’s find out in this article!
What is Thena?
Thena is a Dex Native AMM on BNB Chain, with the goal of becoming a liquidity provider for the entire BNB Chain ecosystem. Is a young project that just launched Mainnet on January 5, 2023. The project was born with the vision of overcoming the limitations of Dexes on the market and becoming the leading project in the BNB ecosystem Chain. Along with that, the project will be a liquidity layer or can be considered a liquidity provider for new projects, built on BNB Chain.
In essence, Thena uses 2 AMM models in one Dex: vAMM and sAMM:
- vAMM: Is the model that Uniswap uses to support trading of volatile assets such as BNB, ETH,…
- sAMM: Is the model that Solidly uses to support Stablecoin pair transactions.
Thena combining two models at the same time is quite good and highly effective. It helps users trade assets at the best prices. Thena also has another strength: concentrating liquidity and providing liquidity for other DeFi projects.
The process of building Thena is also very simple, the project used all of Velodrome’s Code to create its vAMM model. And use Solidly’s Code to create the sAMM model. The project just needs to be tweaked and code a few more things to get a dApp like now. However, the project also focuses a lot on the process of testing and fixing errors.
Because it uses the veToken model, the protocol will definitely have revenue. The project collects fees on Swap orders. When interacting with a Pool using the vAMM mechanism, the fee is 0.2%, while with a Pool using the sAMM mechanism, the fee is 0.01%. This fee is also quite reasonable compared to current Dexes.
Additionally, the project also has a referral mechanism to earn additional transaction fees from the protocol. When the referred person successfully swaps an order, the referrer will receive from 5% to 12% of the fee from that transaction. The percentage of fees the referrer receives will depend on the level of the referrer. The higher the total trading volume the referrer has, the higher the level will be. With a high level, the referrer will receive more referral fees.
Mechanism of Action
On Thena there are 3 main types of users:
- Trader: A person who mainly uses Thena to buy and sell Coins and Tokens. They will then pay a small fee to the protocol.
- Liquidity adders: Those who provide assets to the trading pool to earn transaction fees.
- veTHE holders: Those who lock THE Token to receive veTHE. With veTHE, the holder has the right to participate in protocol governance, share revenue and decide to distribute rewards to Pools.
Development Roadmap
Updating…
Core Team
Updating…
Investors And Partners
Investors
Updating…
Partners
Thena’s partners and ecosystem include many projects, especially DeFi projects in the BNB Chain ecosystem.
Tokenomics
Overview information about Thena Token
- Token Name: Thena
- Ticker: THE
- Blockchain: BNB Chain
- Standard: BEP-20
- Contract: 0xf4c8e32eadec4bfe97e0f595add0f4450a863a11
- Total supply: 57,722,260
- Maximum Supply: 57,722,260
Token Allocation
- Protocol Airdrop: 19%
- Airdrop Users: 25%
- NFT Minters Airdrop: 9%
- Ecosystem Grant: 25%
- Team: 18%
- Liquidity Providers: 4%
Token Use Case
THE Token holders have the right to govern the protocol, share revenue and decide on profit distribution to Pools.
Exchanges
THE token is traded on the Thena exchange itself.
Thena’s Information Channel
- Website: https://thena.fi/
- Twitter: https://twitter.com/ThenaFi_
- Medium: https://medium.com/@ThenaFi
- Discord:
Summary
Thena is a very prominent project in the recent BNB Chain ecosystem. Although most of them are copied, including the model as well as the code, the combination is relatively effective and the product runs very smoothly, bringing user experience. Good. Thena is growing very fast and has beaten Wombat in terms of TVL. We continue to observe to see if Thena can beat other giants with the product it has.
So, I have clarified what Thena is? Thena cryptocurrency overview. Hope this article provides you with a lot of useful knowledge!
