Lorenzo Protocol (BANK) Goes Live on Binance Alpha: Airdrop & Trading Competition Details

Key Takeaways:

• Lorenzo Protocol (BANK), an institutional-grade on-chain asset management provider, is now live on the Binance Alpha platform.
• Eligible traders holding at least 240 Binance Alpha points can claim an exclusive airdrop of 354 BANK tokens.
• Binance is hosting a two-week trading competition for $BANK, starting on October 30, with a prize pool of $500,000 or 5,893,000 BANK tokens.

On October 30, Binance announced that Lorenzo Protocol (BANK), an institutional-grade on-chain asset management provider, is now live on the Alpha platform. Eligible users holding at least 240 Binance Alpha Points can claim 354 $BANK tokens in the ongoing Alpha airdrop. 

Binance is hosting a two-week BANK Trading Competition with a prize pool of 5,893,000 BANK tokens for the top 8,300 users. In this article, you'll find all that you need to know about Lorenzo Protocol, the Alpha airdrop, and how to claim $BANK tokens.

Lorenzo Protocol (BANK) Binance Alpha Airdrop Launch Details

• Project Name: Lorenzo Protocol
• Token Ticker: $BANK
• Airdrop Duration: October 30, 12:00 (UTC)
• Airdrops Rewards: 354 $BANK tokens
• Platform: Binance Alpha
• Eligibility Requirements: 240 Binance Alpha Points

How To Participate in the $BANK Airdrop Campaign

If you meet the eligibility requirement, do the following to claim 354 $BANK tokens:

• Log in to your Binance Wallet, and open Alpha. 
• Locate Lorenzo Protocol in the Airdrop section of the Binance Alpha Event page.
• Click Claim, and a claim cost of 15 Alpha Points will be deducted from your account.
• Please ensure that you claim your $BANK tokens within 24 hours after applying, or they will be considered forfeited.
• The allocated $BANK tokens will be credited directly to your Binance Alpha account. 

If you do not meet the initial threshold, the score will automatically decrease by 5 points every 5 minutes. The BANK airdrop is available on a first-come, first-served basis, so be sure to be among the first users to apply. 

More Alpha Airdrops: Binance Announces Alpha Airdrop for Marina Protocol on November 1 

Lorenzo Protocol (BANK) Trading Competition Details

As part of the launch campaign, Binance also announced a trading competition for Lorenzo Protocol, with a prize pool of $500,000. 

• Competition Duration: October 30, 12:00 (UTC) to November 13, 12:00 (UTC). 
• Reward Pool: 5,893,000 BANK tokens to be divided equally among the top 8,300 traders (710 BANK tokens per trader).
• Criteria: Eligible trades must be executed on ​​Binance Wallet (Keyless)​​ and ​​Binance Alpha.​ These trades must only be cumulative purchases, as selling is excluded. However, there are no volume caps on this promotion. Bridging tokens is also not allowed.

How To Participate in the $BANK Trading Competition

To participate in the two-week trading competition, do the following.

• Install the latest version of the Binance App, create a Binance Wallet (Keyless), and make sure it is backed up.
• Trade $BANK on Binance Alpha (Keyless) or Binance Wallet (Keyless) during the Promotion Period.
• Rankings will be automatically computed after the Promotion Period. 
• The winners will be allowed to claim 710 BANK tokens on the Alpha event page after the trading period. The tokens will be distributed directly to their Binance Alpha accounts or Binance Wallet.

More Trading Competitions: OLAXBT (AIO) Airdrop And Trading Competition Goes Live On Alpha

About Lorenzo Protocol

Lorenzo Protocol is a crypto-platform that will help introduce institutional-grade finance to the world of decentralized finance (DeFi). The project aims to open up the Bitcoin network access to more complex financial products via blockchain.

In this way, Lorenzo Protocol aims to make people think of Bitcoin as more than an asset to hold and wait, but an asset that can be used, traded, and generate a yield continuously. In order to combine a simple yield strategy, tokenization of assets, and DeFi features into Bitcoin, Lorenzo Protocol has developed a Financial Abstraction Layer (FAL). 

FAL acts as a bridge between conventional finance and DeFi by enabling users to gain exposure to tokenized yield strategies with a single tradable token known as an On-Chain Traded Fund (OTF). They are like ETFs in the stock market, except that they make use of blockchain technology.

In addition, it provides liquid Bitcoin products in its native tokens, such as enzoBTC (a tokenized, wrapped BTC that can be redeemed one-to-one with Bitcoin) and stBTC (a reward-bearing liquid staked BTC token). Lorenzo serves enterprise customers who require customized asset management services, professional security, and compliance.

Lorenzo Protocol is changing the way digital assets are managed. It turns Bitcoin and other crypto assets into flexible, tradable financial products, enabling passive income and DeFi participation without sacrificing liquidity or security.

More Alpha Airdrops: Binance Announces Alpha Airdrop for Nubial Network on October 31