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Binance Will Support Loom (LOOM) Staking

Binance
2020-01-03 08:24

Fellow Binancians,

Binance will be adding support for Loom (LOOM) staking, starting from 2020/01/04 and will distribute Loom staking rewards as detailed below:

Monthly LOOM Staking Airdrop Program

  • Starting from 2020/01/04 at 00:00 AM UTC, Binance will begin taking live snapshots of user LOOM balances.
  • LOOM Staking distribution will be calculated as follows:
    LOOM generated by each user = Total LOOM staking rewards received by Binance * User LOOM holdings ratio.
  • User LOOM holdings ratio = Average user LOOM holdings / Average total LOOM staked by Binance.
  • Users must hold at least 60 LOOM in order to qualify for staking rewards.
  • The initial distribution of LOOM staking rewards will be calculated through to 2020/01/31, with the total amount distributed equal to the staking rewards accrued during the period.
  • LOOM rewards are calculated daily and distributed monthly. Distributions will be completed before the 20th of each month.

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

2020/01/03

 

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