Yesterday, Binance announced support for the EOS Staking Program (EOS), starting March 13, 2020.
Binance will support EOS staking: make money just by storing assets on the exchange!
Representatives of the leading crypto exchange published an algorithm for distributing rewards for EOS staking on the exchange:
Monthly EOS Staking Program at Binance
From 00:00 (UTC) 03/13/2020 Binance will begin to fix the intermediate user EOS balances.
The distribution of remuneration for EOS staking will be calculated as follows:
- EOS volume generated by each user = Total EOS stake rewards received by Binance * Ownership ratio of each user's EOS.
- EOS Ownership Per User = Average EOS balance of each user / Average EOS sent to stake on Binance.
- To receive rewards, the user's balance must be at least 0.25 EOS.
- The first distribution of remuneration for EOS staking will be calculated until 04.30.2020, and the total distributed amount will be equal to the amount of remuneration for staking received for this period.
- EOS stake rewards will be calculated daily and distributed monthly. The distribution of remuneration will be carried out until the 20th day of each month.