TL;DR
- Binance Wallet and PancakeSwap organized a limited subscription to Mind Network’s FHE token, with a cap of 3 BNB per user and no vesting.
- Participation required maintaining a minimum balance of $100 across Binance Wallet and Exchange during the seven days prior to the event.
- FHE is a utility and governance token focused on encrypted operations and staking in a network that prioritizes privacy and quantum resistance.
Binance Wallet announced a new collaboration with PancakeSwap to launch an exclusive token generation event for Mind Network.
The event was scheduled for April 10, 2025, between 11:00 and 12:00 UTC. It allowed users to subscribe to the FHE token through the BNB Smart Chain. During that hour, participants could commit up to 3 BNB, with a total fundraising goal of $750,000, equivalent to 50 million FHE tokens, representing 5% of the total supply.
To participate, users needed to maintain a daily minimum value of $100 in combined assets across Binance Wallet and Binance Exchange for seven consecutive days prior to the event. The evaluation period for this requirement was from April 3 to April 9, 2025. Only Keyless wallets created and backed within the exchange were accepted. Imported or exported wallets did not qualify.
The FHE token serves utility and governance functions within the Mind Network ecosystem. Users can use it to pay for encrypted computations, stake as node operators, and take part in protocol decisions. There is no vesting period for the allocated tokens, and trading will begin immediately after the event ends, either on the Binance Wallet DEX or directly on PancakeSwap.
Binance and Mind Will Not Impose a Vesting Period
Mind Network focuses on building infrastructure resistant to quantum computing by using fully homomorphic encryption. Its goal is to enable a fully encrypted network that allows secure processing of data and artificial intelligence algorithms. Among its projects is HTTPZ, a new internet protocol designed for zero-trust environments.
Participants must ensure they have sufficient BNB balance in their wallet before the event starts. Allocations will be calculated proportionally based on the total amount subscribed by all users. Once the event concludes, users will be able to claim both their allocated tokens and any unused funds.
Binance and Mind Network also warn of potential fraud. Any FHE token circulating before the official end of the event is fake. Contract addresses must be verified through official channels.
