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Binance Will Support Komodo (KMD) Staking & Launch a 250,000 KMD Initial Staking Reward Airdrop

Binance Will Support Komodo (KMD) Staking & Launch a 250,000 KMD Initial Staking Reward Airdrop

2019-07-23 09:18

Fellow Binancians,

Binance will be adding support for Komodo (KMD) staking, starting July 24, 2019. Komodo (KMD) rewards will be in addition to the staking rewards Binance already supports, including NEO (GAS), Ontology (ONG), VeChain (VTHO), Tron (BTT) and Stellar (XLM).

Binance will distribute Komodo staking rewards as detailed below:

Monthly KMD Staking Airdrop Program

  • Starting from July 24, 2019, Binance will begin taking daily snapshots of user KMD balances at 00:00 AM UTC.
  • KMD Staking distribution will be calculated as follows:
    KMD generated by each user = Total KMD staking rewards received by Binance * User KMD holdings ratio.
    User KMD holdings ratio = User KMD holdings / Total KMD staked by Binance.
  • Users must hold at least 1 KMD in order to qualify for staking rewards.
  • The initial distribution of KMD staking rewards will be calculated up until September 1, 2019, with the total amount distributed equal to the staking rewards accrued on holdings during the period.
  • KMD rewards are calculated daily and distributed monthly. Distributions will be completed before the 20th of each month.

250,000 KMD (~$300,000 USD) Initial Staking Reward Airdrop

Binance discovered that we had previously been staking Komodo, receiving a total of approximately 250,000 KMD (approximately $300,000 USD). Binance has decided to distribute these staking rewards to our users along with the first disbursement of the Komodo Staking Airdrop Program on September 1st, 2019. The amount received will be calculated proportionally from the same daily snapshots for the Staking Airdrop. Users must hold at least 1 KMD in order to qualify for the promotion.

Move your coins to Binance from anywhere and enjoy hassle-free staking rewards. Other rewarded coins supported by Binance are:

For more information about staking, please consult Binance Academyā€™s articles on staking pools and Proof of Stake.

Thank you for your support!

Binance Team

2019/07/23

 

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