Capture traffic, participate rationally.
Written by: Deep Tide TechFlow
Today, Binance officially announced its 52nd HODLer airdrop project—ENSO, which will officially launch for trading on October 14 at 09:00 UTC.
This airdrop releases 1.75 million ENSO tokens (accounting for 1.75% of the total supply), with an additional 500,000 tokens allocated for marketing activities post-launch. More notably, the Binance Alpha platform will also simultaneously open a points redemption airdrop, providing early participants with a dual profit opportunity.
Although the BNB holding snapshot period (October 7-9) has passed and the eligibility for the HODLer airdrop is set; the points redemption channel on Binance Alpha remains open. Unlike regular airdrops, ENSO adopts a community-first design:
Public buyers enjoy 100% TGE immediate unlocking, while VCs and the team face a 1-year cliff plus 2 years of linear unlocking; at least on the surface, it feels a bit like retail investors first, then VCs.
Previously, the public offering price of ENSO on CoinList was $1.25 per token, corresponding to a fully diluted market cap (FDV) of $125 million.
If you are not familiar with the background of this project, here are some key pieces of information.
Airdrop Mechanism Analysis
- ### HODLer Airdrop Confirmed
Eligibility Requirements: During the snapshot period from October 7-9, BNB must be deposited into the following products:
Simple Earn flexible/term products
On-chain yield products (such as staking)
KYC certification must be completed and located in supported regions
Distribution Logic: 1.75 million ENSO will be distributed proportionally based on the average daily BNB balance during the snapshot period. There is no minimum holding requirement, but the higher the holding amount, the more you receive.
- ### Binance Alpha Airdrop (still open for participation)
ENSO is one of the major new coins on the Binance Alpha platform this Friday, along with CLO, RECALL, WBAI, and LAB. Users can redeem ENSO airdrop shares using Alpha points, with specific rules to be checked after the event goes live.
Participation Steps:
Ensure Binance KYC certification is completed
Accumulate points through trading, referrals, and other activities on the Alpha platform (previous activity thresholds were around 195 points)
After the launch on October 14, visit the Alpha Events page to redeem ENSO with points
First come, first served, until redemption is complete (previous windows typically lasted 5 hours)
Project Introduction
What problem does it solve?
The current blockchain ecosystem faces a serious fragmentation dilemma: over 1,000 chains, more than 41 million smart contracts, each with independent standards and calling methods. Developers need more development costs and integration time to integrate each chain for DApps. This fragmentation severely hinders the large-scale application of Web3.
ENSO's solution: abstract all blockchains into a unified API/SDK interface, achieving "one-click cross-chain operation" through two core concepts:
Actions (modular interactions): abstracting each smart contract function into standardized "actions" (such as Aave's
deposit, Uniswap'sswap)Shortcuts (composite workflows): combining multiple Actions like Lego blocks to achieve complex cross-chain operations. For example, "extract assets from any chain → cross-chain bridging → deposit into lending protocol on the target chain."
This is somewhat akin to how iOS unified the development interface for all apps; ENSO unifies the calling methods for all blockchains. Developers do not need to understand the underlying details of each chain; they only need to express their intent, and the ENSO network automatically plans the optimal path and executes it.
Some practical use cases:
Berachain mainnet launch: Public information shows, in February 2025, Berachain processed $3.1 billion in transaction volume through ENSO, using 84 pre-built Shortcuts. This figure made Berachain one of the most successful L1 launches.
Ether.fi cross-chain treasury: Users can deposit from any chain (Ethereum, Arbitrum, Base, etc.) with one click, while ENSO automatically handles the entire process of bridging, exchanging, and depositing in the background, without requiring users to manually switch networks or sign multiple times.
Uniswap LP migration: According to a report by The Block link, ENSO partnered with LayerZero to build tools for migrating Uniswap V4 to Unichain. Users can complete the entire process of extracting Uniswap V2/V3 LP liquidity → cross-chain bridging → redeploying to V4 LP in one transaction.
Summary of ENSO's current protocol partnerships:
Token Economics
Supply Structure and Unlocking Mechanism
Total Supply: 100 million at genesis, maximum supply of 127.3 million, calculated based on an initial annual inflation of 8%, decreasing to 0.35% after 10 years.
Initial Circulation: 20.59 million (20.59%), including:
4 million from CoinList public offering (100% unlocked)
1.75 million from Binance HODLer airdrop (100% unlocked)
An additional 500,000 ENSO will be used for market activities after listing (100% unlocked)
Approximately 14.34 million released for the ecosystem
From the information available, public buyers (who bought at $1.25 on CoinList) can trade 100% on TGE day, while VCs and the team must wait 1 year before starting a 2-year linear release.
This means that at least theoretically, by October 2026, 56.8% of the tokens (VC + team + advisors) will be locked, and market selling pressure will mainly come from the circulating supply.
Valuation Benchmark:
Financing Background and Team
VC Lineup and Financing History
Total disclosed financing amount: $14.2 million, completed in 3 rounds
2021 Strategic Round ($5 million): Led by Spartan Group, with follow-on investments from Polychain Capital, Multicoin Capital, The LAO, P2P Capital, Zora. Used for core engine development.
2024 Undisclosed Round ($4.2 million): Led by IDEO CoLab Ventures and Hypersphere Ventures. To promote intent centralization expansion.
2025 CoinList Public Offering ($5 million): Community round, 4% of tokens sold at $1.25 price.
Angel Investor Lineup (70+): Includes Naval Ravikant (founder of AngelList) and core members from projects like LayerZero, Safe, 1inch, Yearn, Flashbots, Dune, Pendle, etc.
Team: Ethereum Purists
Connor Howe (Founder/CEO): An early Bitcoin developer since 2012, involved in the early construction of Ethereum in 2016; previously worked at Sygnum (Switzerland's first crypto bank), responsible for digital asset banking services, including stablecoins, multi-signature, and tokenized products.
Core technical team members Milos Costantini, Peter Phillips, and Lindy Han correspond to Solidity core development, backend architecture, and business development leads, respectively.
Overall, the team's background combines Ethereum expertise with traditional financial compliance experience, giving ENSO advantages in both technological innovation and institutional integration.
Connor's experience in crypto banking custody is particularly crucial, explaining why institutional projects like Ether.fi and Infinex choose ENSO as their underlying solution.
Capture traffic, participate rationally
For different participants, if you already hold BNB and participated in the snapshot, you may retain some airdrop tokens to observe the project's further development and changes; if participating through Alpha, chasing high prices on the first day may not be a reasonable choice, and it might be better to wait for the airdrop selling pressure to release before making a move.
For chain abstraction and cross-chain, these are not new narratives, nor are they currently the focus of market attention; if you are optimistic about this track, you can consider ENSO as part of the chain abstraction theme rather than going all in on a single token.
Remember that any new token launch comes with extremely high volatility, and Binance's Seed label is a double-edged sword. Practice good risk management and only invest funds you can afford to lose.
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