It's not a joke or something that has some small letters conditions for this or an obscure coin from an even more obscure exchange or not even listed somewhere. It is about Elrond (ERD), endorsed by Binance with an IEO (Initial Exchange Offering) last year followed recently by another Binance-Elrond Announcement.
First, about Elrond:
It is a highly scalable, fast and secure blockchain platform for distributed apps, enterprise use cases and the new internet economy. It uses Adaptive State Sharding and claim to be 1000x faster than Ethereum network.
They are amongs first 10 projects under 20m Market Cap:
As you can see - there are 20 bil of ERD coins - total supply, but circulating are only almost a half. The rest will be introduced in time, as staking reward most of it.
The price dramatically increased since 18 of april, when there were some roumors about the BUSD-Elrond Announcement, but there is still room to grow until the mainnet.
History in few words:
- May, 2018 - the project started to show in public - according with their CEO - Beniamin Mincu - article
- Feb,2019 - the partnership with Binance has started
- July,2019 - after an succesful IEO on Binance, ERD was listed
- Dec,2019 - Staking Process ready
- Apr,2020 - the Testnet is almost completed and the last preparations for Mainnet are made
Now, what is this article about is:
The staking process and reward
You need to know there is a plan for staking reward and it is very generous.
There is an annualized staking ratio of 32%.
The steps are only few and easy to follow - the process is described here. What it is important:
- you need a Metamask enabled wallet
- the minimum staking period is 30 days
- the time until recovering the staked amount is about 7 days since withdraw request
If you need more info, you can see the link posted here or you can ask me. I will gladly help.