Binance Will Support Kyber Network (KNC) Staking With Initial 3 Month Bonus

2020-07-14 07:07

Fellow Binancians,

Binance will be adding support for Kyber Network (KNC) staking starting from 2020/07/15 and will distribute staking rewards denominated in ETH as detailed below:

Monthly KNC Staking Airdrop Program

Starting from 2020/07/15 at 00:00 AM UTC, Binance will begin taking live snapshots of user KNC balances.
Rewards distribution will be calculated as follows:

ETH generated by each user = Total KNC staking rewards received by Binance * User KNC holdings ratio.

User KNC holdings ratio = Average user KNC holdings / Average total KNC staked by Binance.
Users must hold at least 1 KNC in order to qualify for staking rewards.
The initial distribution of KNC staking rewards will be calculated through to 2020/07/31, with the total amount distributed equal to the staking rewards accrued during the period.
KNC rewards are calculated daily and distributed monthly. Distributions will be completed before the 20th of each month.

Additional 100,000 USD Rewards in KNC

To celebrate the launch of Binance Staking, Kyber will sponsor an additional 100,000 USD worth of KNC in rewards. The rewards will be distributed as an additional bonus pro-rata to users who stake KNC through the first 3 months based on the above calculation, with $33,333.33 in rewards for each period.

Move your coins to Binance from anywhere and enjoy hassle-free staking rewards. Other rewarded coins supported by Binance can be found on the Staking Home Page here.

Thank you for your support!

Binance Team

2020/07/14

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