Binance exchange found almost 9,500,000 XLMs in some forgotten wallet and decided to share it with users.
Now they will be doing a cool thing, sharing parts of those with everyone who deposits at least 10 XLM. Also just for holding XLM on the exchange they will be staking them and giving some monthly.
Starting from July 20th, 2019, Binance will begin taking daily snapshots of user XLM balances at 0:00 AM UTC to calculate their proportional potential staking rewards.
Users must hold at least 10 XLM in order to qualify for the promotion.
The first distribution of XLM staking rewards will be on September 1st, 2019. The disbursal of the additional 9,500,000 XLM airdrop will coincide with the first distribution of XLM staking rewards, in accordance with users’ average daily holdings.
Users will receive their initial XLM staking rewards together for the first 40 days of staking, along with their proportion of this 9,500,000 XLM prize pool.
Although the staking rewards have varied over time as the wallet balances have grown, for the first distribution, users holding XLM may expect to receive a first staking reward amount equivalent to roughly 10-12 months worth of staking rewards.