Binance Wallet has announced a major event in the world of cryptocurrency, partnering with PancakeSwap to host the highly anticipated Token Generation Event (TGE) for Lorenzo Protocol. This event, set to take place on April 18, 2025, will introduce $BANK, the governance token for the Lorenzo Protocol, which will launch on the BNB Smart Chain.
Details of the Token Generation Event (TGE)
The TGE is scheduled for April 18, 2025, from 09:00 AM to 11:00 AM UTC. A total of 42,000,000 $BANK tokens—representing 2% of the total supply—will be available for purchase at a price of $0.0048 USD per token, with payments to be made in BNB. Binance Wallet users will be able to subscribe to the event, with each participant capped at a maximum of 3 BNB for purchasing $BANK tokens.
This event presents a unique opportunity for Binance Wallet users to gain early access to the governance token of Lorenzo Protocol and participate in the growing ecosystem built on the BNB Smart Chain.
Eligibility and Subscription Process
To participate in the TGE, users must meet specific eligibility requirements. Only users who have purchased Binance Alpha tokens through Binance Wallet (Keyless) or via Spot/Funding accounts on the Binance Exchange between March 19, 2025, and April 17, 2025 will be eligible for the event. Acquisitions made after the official listing of Alpha tokens on Binance will be considered valid.
The token allocation will be determined on a pro-rata basis, meaning each user’s subscription will be relative to the total amount raised during the event. Importantly, there is no vesting period, and DEX trading for the $BANK token will begin immediately after the event concludes at 11:00 AM UTC on April 18, 2025. Trading will be available through the Binance Wallet DEX or PancakeSwap.
Key Details of the Event:
- TGE Date: April 18, 2025, from 09:00 AM to 11:00 AM UTC
- Total $BANK Tokens Available: 42,000,000 (2% of total supply)
- Price per Token: $0.0048 USD (payable in BNB)
- Maximum Subscription: 3 BNB per Binance Wallet user
- Eligibility: Must have purchased Binance Alpha tokens between March 19, 2025, and April 17, 2025
- No Vesting Period: Immediate trading post-TGE
What is Lorenzo Protocol and $BANK Token?
Lorenzo Protocol is a decentralized platform that aims to offer innovative solutions in the blockchain space. The $BANK token serves as the governance token for the protocol, granting holders the ability to participate in decision-making processes within the ecosystem. With its launch on the BNB Smart Chain, the project is poised to benefit from the scalability and low transaction costs provided by the Binance ecosystem.
The partnership between Binance Wallet and PancakeSwap to host this event highlights the growing trend of integrating decentralized finance (DeFi) with traditional crypto exchange platforms, offering users new ways to access and trade digital assets.
