THENA

What is THENA?

Thena is an AMM-based DeFi platform building a comprehensive ecosystem on the BNB chain. It offers various services, including derivatives trading and integrated banking solutions aimed at enhancing easy access and diversity in decentralized finance.

Thena DEX

Positioning itself as the central protocol for token swapping and liquidity provision, Thena serves as a primary liquidity layer and Automated Market Maker (AMM) within the Binance (BNB) ecosystem. 

It is designed to address critical inefficiencies observed in previous Solidly AMMs, such as inadequate liquidity incentives and suboptimal fee distribution. This does more than enhance user rewards; it also improves the overall health and efficiency of the DeFi landscape.

Thena further innovates by offering gauge weight voting and a bribing marketplace that empowers liquidity providers to dictate reward directions while enabling protocols to attract necessary support. That way, it fosters a more interactive, decentralized, and collaborative ecosystem.

Perpetual trading on Thena

Beyond its spot decentralized exchange (DEX) features, Thena provides sophisticated derivatives that continue indefinitely. These are known as perpetual contracts. They can be traded on ALPHA, Thena’s perpetual DEX.  

Perpetual contracts allow traders to speculate on price movements while holding their position indefinitely (they have no expiry date). Traders on ALPHA  can use leverage, which is essentially borrowed money, to magnify gains. However, this also significantly increases a trader’s risk profile. 

Thena makes managing this risk easier through a system known as collateral and cross-margin accounts. Here, all your trades can be balanced against each other in one big pool, helping handle profits and losses before they’re realized.

ALPHA’s interface is a user-friendly dashboard that helps traders by showing important information, like potential profits or losses, asset trading volume, and the overall health of your trading account. It is designed to guide traders, even newcomers, to make well-informed trading decisions.

That said, this is just a fraction of what constitutes Thena. There is more. 

What is unique about THENA?

Here are the unique components that define THENA; 

• THE: 

THE is the utility token on Thena. The protocol uses THE to ensure enough liquidity for the best trading experience by issuing it as farming rewards. It is also used for governance to help develop the platform in its pursuit of true decentralization.

• veTHE: 

veTHE is Thena’s governance token that is minted and issued as an NFT. Users can obtain veTHE by locking their $THE tokens for up to 2 years. A holder’s voting power is directly proportional to the lock duration. 

As veTHE naturally decreases over time, it can be relocked each epoch to preserve or enhance voting power. Alternatively, it can be traded on secondary markets.

– veTHE voters receive:

1. Trading fees generated by the pool(s) they vote for
2. Bribes deposited for the pools they vote for
3. Weekly veTHE distribution (rebase)

• theNFT: 

This is the Founders’ token. It is also issued as an NFT. Thenian NFTs (theNFT) are a limited collection of 1,734 that earn 10% of THENA swap fees and hold a special role in the community.             

• ARENA: 

ARENA is a social trading platform enabling customizable trading contests by partners and KOLs (Key Opinion Leaders). It aims to cultivate community engagement and brand growth by offering lucrative trader rewards.

• WARP: 

This is THENA’s launchpad, built to catalyze DeFi project growth on the BNB Chain through strategic support, early-stage fundraising, enhanced liquidity, and promoting industry connections to expand community and trading activity.

All these open a variety of opportunities for DeFi participation on BNB and other blockchains. 

What can I use THENA for?

1. Swap tokens: Exchange one token for another quickly and efficiently on the spot DEX.

2. Provide liquidity: Contribute to liquidity pools to facilitate smoother trades and, in return, receive a share of the trading fees or THENA token emissions.

3. Leverage trade: Perform leveraged trading to amplify your potential returns by borrowing additional funds to increase your investment exposure in both perpetual and spot markets.

4. Cross-chain swaps: Execute swaps across multiple blockchain networks, expanding your trading capabilities beyond the BNB Chain to access a broader asset spectrum.

5. Earn revenue share: Earn a portion of the platform’s swap fees to directly benefit from its financial activity and growth.

6. Buy crypto from fiat: Purchase cryptocurrencies directly using fiat money. This feature simplifies the process for new entrants and provides convenience for existing users.

7. Trading competitions: Engage with the THENA community through ARENA, a feature that enables you to join and host trading competitions. Use this to enhance your trading skills while encouraging community interaction and potentially earning rewards based on trading performance.