THENA

THENA is a decentralized exchange and liquidity layer built on BNB Chain and opBNB, offering spot trading, perpetual trading with up to 50x leverage, and a comprehensive suite of DeFi services. The platform aims to become a DeFAI "SuperApp" for mass onboarding, integrating wallet abstraction, fiat on/off ramps, cross-chain bridges, and various liquidity management tools for both retail users and protocols.

THENA creates yield for its users through several connected systems.

Liquidity providers (people who deposit tokens into trading pools) earn money in two main ways:

• Trading fees from swaps that happen in the pool. THENA supports several types of pools, including concentrated liquidity (you choose a price range), classic UniV2-style (equal split of two tokens), 80/20 weighted pools (like Balancer), and Curve-style stable-AMMs (for assets that should trade near the same price).
• THE token rewards distributed through weekly gauge voting. Each week, holders of veTHE vote on which pools should get extra THE tokens, and those rewards go to the people providing liquidity in the winning pools.

Protocols and partners can also deposit voting rewards to attract liquidity to their own pools, giving LPs another income source.

THE token holders who lock their tokens receive veTHE NFTs. These NFTs give them voting rights in the platform's decisions and entitle them to a share of the protocol's revenue and token rebases.

The overall system follows a "ve(3,3)" design, which is meant to be self-reinforcing. Revenue from the platform flows to veTHE holders. Those holders then vote to direct new token rewards toward the most useful and active liquidity pools. This creates a circular cycle where productive pools attract more liquidity, which generates more fees, which flows back to voters.

Fee rates differ by pool type and can be adjusted on the fly using Algebra Integral plugins.

THENA is backed by YZi Labs (formerly Binance Labs), which made an investment in the protocol as part of its portfolio support. The protocol's native token $THE is listed on Binance. Official announcements reference YZi Labs' investment and alignment with the broader BNB Chain ecosystem, though specific funding round amounts or dates are not disclosed in the reviewed official materials.