Overview
Thena(THE)
Token Price$0.066
24h Change-5.46%
All Time HighNov 27, 2024$4.03
All Time LowSep 2, 2023$0.057
Key Metrics
Market Cap$8.8m
Fully Diluted Valuation$21.61m
Circ. Supply132.77m THE
Max Supply326.12m THE
Outstanding FDV$21.61m
Volume 24h$4.69m
CEX Volume$4.2m
DEX Volume$3.63m
Token Liquidity$24,689
THENA FUSION · BSC$24,689
Total Raised$600,000
Strategic · Dec 8, 2023$600,000
Income Statement for THENA
| Q2 2026* | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Gross Protocol Revenue | $276.60K | $1.13M | $1.83M | $2.10M | $1.90M | $4.44M | $5.56M | $2.48M | $3.06M | $4.13M | $1.55M | $646.06K | $797.10K | $700.09K |
Cost of Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Gross Profit | $276.33K | $1.13M | $1.82M | $2.10M | $1.90M | $4.44M | $5.56M | $2.48M | $3.06M | $4.13M | $1.55M | $646.06K | $797.10K | $700.09K |
Incentives | $433.54K | $1.53M | $1.75M | $3.25M | $2.68M | $7.96M | $10.84M | $3.37M | $6.94M | $5.27M | $2.99M | $4.27M | $7.81M | $11.70M |
Earnings | -$157.21K | -$405.24K | $65.96K | -$1.14M | -$775.04K | -$3.52M | -$5.28M | -$889.51K | -$3.88M | -$1.14M | -$1.43M | -$3.62M | -$7.01M | -$11M |
Token Holder Net Income | $276.30K | $1.13M | $1.81M | $2.10M | $1.90M | $4.44M | $5.56M | $2.48M | $3.06M | $4.13M | $1.55M | $629.77K | $797.10K | $700.09K |
Risks
How much debt can be issued against THE as collateral across lending protocols.
Maximum possible exposure to THE
$10,709
$0 (max additional borrows against THE) + $10,709 (bad debt if THE was hacked now)
Venus Core Pool
$10,709 at-risk exposure = $10,709 bad debt if hacked + $0 additional borrowable against THE
Methodology and limitations
Showing collateral exposure for THE on BSC. Max Borrowable uses the backend's liquidity-bounded borrow-capacity metric (`collateralMaxBorrowUsdLiquidity`) for the maximum additional USD debt that can be issued against the asset right now. Bad Debt at $0 is the minimum known bad debt if the collateral asset price goes to zero; null rows are excluded from this total rather than treated as zero, so totals may remain lower bounds.
- These metrics describe lending exposure only and are not a full protocol risk rating.
- This view does not include multisigs, timelocks, audits, oracle incidents, listing discussions, curator reports, or protocol backstops.
- Chain-specific drilldown is exact only when the token resolves to a concrete chain:address.
Show exposure details
Each row is one protocol-chain exposure for THE as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.
Protocol | Chain | |||
|---|---|---|---|---|
THE0xf4c8e32eadec4bfe97e0f595add0f4450a863a11 | $0 | $10,709 |
Markets
Token Rights and Value Accrual
Updated Mar 11, 2026Overview
- Token(s)
- THEveTHE
- Token Type
- GovernanceUtility
- Utility
- Staking, Liquidity Incentives
The THE token is the native governance and utility token of Thena, a decentralized exchange (DEX) and liquidity layer on BNB Chain, utilizing a ve(3,3) model for spot and derivatives trading. Holders can lock THE to receive veTHE (vote-escrow THE), which grants voting power on emissions, revenue sharing from fees, and incentives.
Governance Rights
ControlHolders lock THE for veTHE to vote on emission allocations to liquidity pools and incentive distributions. Continuous THE emissions enable any party permissionlessly acquire influence over THENA’s governance and revenue flows. veTHE holders can also partake in governance and cast votes for protocol improvement proposals.
Governance Decisions
Lock THE for up to 2 years to obtain veTHE (ERC-721 NFT). veTHE holders vote weekly on pools to direct THE emissions, with voting power proportional to locked amount and duration.
Treasury Decisions
Revenue Decisions
veTHE holders vote to direct revenue flows & emissions.
Fee Switch
ON90% of protocol fees are redistributed to veTHE holders
Resources
Primary Value Accrual
Protocol Revenue ShareValue accrues to veTHE voters through protocol emissions & trading fees
Equity Statement
Thena's model distributes all revenue to token holders. 18% of the initial supply was distributed to the team, 60% of that was veTHE locked for 2 years.
Economic Rights
Value CaptureToken holders convert THE to veTHE to vote for gauges on a weekly basis. 90% of the trading fees generated by LPs who opt to receive $THE emissions (instead of farming trading fees directly) as well as 100% of the voting incentives deposited by partners on the associated pool go to veTHE holders.
Buybacks
N/ADividends
Protocol revenue & emissions are distributed to veTHE voters
Burns
N/ANo burn mechanism is currently active
Ownership
- Fundraising
- Unknown
- Equity Revenue Capture
- Partial
Token Usage
An is required to view token usage.
Unlocks
An is required to view token unlocks.
Yields
Tracking 2 pools, average APY 4.91%
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabUSDC-HE-HIM | $47,786 | 0% | 0% | 1.32% | |||||
| open in new tabTHE | $34,461 | 9.82% | 9.82% | 6.12% |