BNB staking is now available on popular cryptocurrency exchange Binance. Users can now stake the Binance native token – BNB – and earn amazing APY in return. The world’s largest cryptocurrency exchange spoke extensively about this new feature in an official announcement to community members.
According to the announcement, Binance BNB staking commenced on March 9, 2021, at exactly 12:00 pm (UTC) and will be on a first-come, first-served basis.
More on BNB staking
According to the announcement, users who participate in staking Binance BNB will have the opportunity to earn staking rewards as high as 27.49% APY. This shows that this newest feature on Binance is a high-yield project. Users’ interest calculation will commence at exactly 0:00 am (UTC). Interestingly, interest will be paid out every day. These interest amounts will be based on the number of tokens staked and the duration of which the digital asset is locked.
The official announcement shows that there are four proposed staking durations, which are 15 days, 30 days, 60 days, and 90 days. The minimum locked staking amount for these time periods remains at 0.1 BNB.
Each staking time period has a maximum locked staking limit for each user and a standard annualized interest rate.
- For 15 days staking duration, users can stake a maximum of 5 BNB in order to earn an APY estimated at 27.49%.
- 30 days BNB staking duration has a maximum staking allowance of 5,000 BNB and an interest rate of 8.49%.
- For 60 days, users have a maximum staking limit of 500 BNB to earn interest as high as 12.49%.
- Lastly, for 90 days, there is a staking limit of 100 BNB to earn interest as high 16.49%.
Interested users can easily monitor their locked assets on the Binance website by clicking on the “locked staking” icon.
Find out more about the Binance BNB locked staking platform here.
Last month, Binance BNB attained new heights, becoming the third-largest crypto by market cap, moving ahead of Tether (USDT) and right behind Bitcoin and Ethereum.
At the time of writing, Binance BNB was trading at $283.50, with a market cap of $43,719,095,005 and a 24-hour trading volume of $4,837,378,834.
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