What is Thena (THE) and How Does It Work?

Bittime - Thena (THE) present as a multifunctional platform in the ecosystem BNB Chain And opBNB. This platform does not just offer ordinary crypto exchange services. So, what is Thena (THE)? Check out this review to find out!

Thena comes with a DeFi "SuperApp" concept that combines the convenience of a centralized exchange (CEX), but still maintains the values ​​of decentralization. In it, users can do spot trading, perpetual contracts with high leverage, and take part in social-style trading competitions through a unique feature called ARENA.

Now, this article will dissect thoroughly what is Thena (THE), how it works, the role of THE token, as well as the roadmap and team behind this ambitious project. Keep following, OK?

What is Thena (THE)?

Source: Thena

Thena (THE) is a DeFi (Decentralized Finance) platform built on the network BNB Chain and opBNB. 

This DeFi platform aims to become a center for decentralized financial activities with various superior services, starting from Spot DEX, Perpetuals DEX, until gamified social trading platform called ARENA.

According to its whitepaper, this platform is the answer to the need for a platform that combines DeFi features in one integrated ecosystem, like an all-in-one application, aka SuperApp. 

Users no longer need to move between platforms because all trading, liquidity and initial investment needs can be done in one place.

Read also: What is MiL.k (MLK)? Everything You Need to Know!

How Does Thena (THE) Work?

Source: Coincu

Thena operates as a decentralized liquidity and trading hub with a modular structure. The main products in this ecosystem are:

1. THENA (Spot DEX)

Key features to exchange crypto assets directly. This is where users can earn passive income through providing liquidity.

2. ALPHA (Perpetuals DEX)

Crypto derivatives platform with up to 60x leverage. Suitable for experienced traders who want to maximize opportunities in the crypto market.

3. ARENA

A social platform for trading competitions that combines game elements (gamification). Suitable for communities and new projects that want to introduce their products in an interactive way.

4. WARP (Coming Soon)

A launchpad to support early stage crypto projects raising funds and communities.

About THE Tokens

Token THE is a utility token based BEP-20 which is the backbone of the entire Thena ecosystem. This token is used for:

Governance: THE owners can participate in protocol decision making

Staking & Reward: Users can lock tokens in the form of veTHE to receive a share of the platform's revenue

Liquidity: Used as an incentive for liquidity providers

Read also: How to Stake Bitcoin in Babylon, Here's How!

Tokenomics Token THE

Before investing in a crypto project, you must know the details of its tokenomics. This is to find out the fundamentals of a project. So, here are the tokenomics of THE token:

Total Initial Supply: 310.000.000 THE

Current Circulating Supply: ±78 million THE

Maximum Supply: 326.120.291 THE

Airdrop & Distribution

• 25% for active BNB Chain users

• 19% for partner protocols

• 18% for the core team

• 25% for ecosystem development grants

• 4% for initial liquidity

Token Emission

• Weekly emissions: 2,600,000 THE

• Emission reduction: 1% per week

• Income distribution:

  • 67.5% to liquidity providers

  • 2.5% to developer wallet

veTHE: Governance Version

• ERC-721 NFT earned from locking THE token

• Voting rights & profit sharing (90% of trading fees + 100% voting incentives)

• Maximum lock: 2 years

• Flexible: can be merged, divided or resold

Thena Team and its Investors

Although not all team members are published, Thena has been verified by major partners such as Binance and BNB Chain. The only one published is Baptiste Miani, Co-Founder dan COO Thena.

For funding, Thena only held one round and managed to get an investment of $600,000 (around IDR 10.1 billion) from Orbs, a Layer-1 blockchain project. Orbs is also committed to providing technical support for Thena development.

Not only that, Thena also accepted grant from BNB Chain to develop the ARENA platform, proof of the strong support from the ecosystem in which they reside.

Read also: Tokenomics Spur Protocol and its Roadmap for 2025, Check the Details!

Roadmap Thena

In 2024, Thena will launch major features and updates:

New Products and Features:

• ARENA V1 and THENA V3

• Launch of ALPHA V0.X on opBNB and ALPHA V1

• THE VIP dan WARP Launchpad Accelerator

• THE Card dan Fiat Off-Ramp

Community Development:

• Ambassador Program (Ambassador)

• THE Club as an exclusive community

This update confirms Thena's commitment to strengthening the ecosystem and building a solid community.

Conclusion

Thena is an ambitious DeFi project with the vision of becoming the SuperApp of the crypto world. With the integration of advanced trading features, fun social trading, and tokenomics that incentivize active users, Thena (THE) is one of the platforms worth paying attention to this year.

Plus strong support from BNB Chain and investors like Orbs, as well as its presence in the Binance airdrop program, Thena (THE) is on track to become a big player in the DeFi landscape.

FAQ

1. What is Thena (THE)?

Thena (THE) is a DeFi platform on the BNB Chain that provides Spot DEX, Perpetuals DEX, and social features for trading competitions via ARENA.

2. What is the function of THE token?

THE tokens are used for governance, liquidity incentives, and staking rewards in the Thena ecosystem.

3. Is Thena safe to use?

Yes, Thena has been audited by reputed security firms such as PeckShield And OpenZeppelin, as well as implementing a multisig and timelock system for transaction security.

How to Buy Crypto on Bittime

Want to trade sell buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is safe and fast.

Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.

Also, visit the Bittime Blog for interesting updates and educational information about the crypto world. Find reliable articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your crypto knowledge.

Reference 

Coincident, Thena Review 2024: A New “Superstar” on BNB Chain, accessed April 9, 2025.

Thena, THENA Overview, accessed April 9, 2025.

Author: Y