$BANK
Good question. Here are the key details about Lorenzo Protocol ($BANK), plus some analysis of its use case, risks, and potential.
What Is Lorenzo Protocol (BANK)?
Purpose / Vision
Lorenzo Protocol is designed as an institutional-grade asset management layer on-chain.
It aims to bring "structured financial products" (like tokenized funds) on-chain, making yield strategies accessible to both institutions and retail.
Its architecture is based on a “Financial Abstraction Layer” (FAL), which standardizes yield strategies into composable units.
Core Products / Strategy
USD1+ OTF: On-Chain Traded Fund that aggregates yield from different sources — real-world assets, DeFi, and trading strategies.
stBTC: A liquid staking derivative for BTC. Users can stake BTC and get stBTC, which stays liquid and usable in DeFi.
enzoBTC: A wrapped/enhanced Bitcoin strategy — more aggressive / higher yield.
Token: BANK
Type: Native governance & utility token.
Blockchain: BEP-20 (on BNB Chain).
Max Supply: ~2.1 billion BANK.
Circulating Supply: ~526.8 M according to CMC.
Utility of BANK
Governance: BANK holders can vote on protocol parameters, product strategy, fee structure, etc.
Staking: Users stake BANK to get veBANK (voting-escrowed BANK), which gives governance power and potentially protocol rewards.
Revenue Sharing: A portion of protocol fees (from its products) is shared with BANK stakers.
Access / Priority: Stakers or veBANK holders may get priority access to new vaults or structured products.
Token Launch / Funding
Lorenzo did a Token Generation Event (TGE) via Binance Wallet (in partnership with PancakeSwap) on April 18, 2025.
They raised $200K in that IDO.
Claims exist of backing from Binance Labs (though the exact amount is not disclosed).
Risk Profile
According to Token Vitals, the risk level is 6/10 (High).
Key risks:
Tokenomics / Inflation Risk: Large max supply, and unclear long-term emission schedule.
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