In collaboration with the Fetch.ai team, Binance will support the staking of FET tokens on Binance, starting on 2019/10/11. Binance will distribute these rewards proportionately to users each month based on their daily average FET holdings, as detailed below:
Monthly FET Staking Airdrop Program
Starting from 2019/10/11, Binance will begin taking hourly snapshots of user FET balances at 00:00 AM UTC.
FET Staking distribution will be calculated as follows:
FET generated by each user = Total FET staking rewards received by Binance * User FET holdings ratio.
User FET holdings ratio = User FET holdings / Total FET staked by Binance.
Users must hold at least 25 FET in order to qualify for staking rewards.
The initial distribution of FET staking rewards will be calculated through 2019/11/10, with the total amount distributed equal to the staking rewards accrued on holdings during the period.
FET rewards are calculated daily and distributed monthly prior to the 15th of each month.
What is Staking？
Staking is the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. Users are rewarded for simply depositing and holding coins on Binance as they normally would.
Learn Learn more about the consensus mechanisms of each project, how staking plays a role in the security, operations, and governance of a blockchain.
For the Trader Transact, trade, participate, and utilize your tokens on Binance normally, all while earning rewards based on daily balance snapshots for each staking-supported chain.
Earn Receive rewards distributions monthly, calculated based on a user’s pro-rata share of total balances held by Binance users that generated the corresponding staking rewards during the given month.
Why stake with Binance?
With staking on Binance, users can receive staking rewards all while just being a regular Binance user. For all users, this means more freedom & accessibility into staking participation for all chains, without giving up full liquidity.
Q:How can I Participate in Binance Staking?
A:Deposit supported coins into your Binance.com account today and start earning — it’s that simple!
Binance current supports staking for many cryptocurrencies, including the following: NEO (NEO/GAS), Ontology (ONT/ONG), Vechain (VEN/VTHO), Stellar (XLM), Komodo (KMD), Algorand (ALGO), Qtum (QTUM), & Stratis (STRAT).
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