Locked Staking is the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network. For more on staking, please refer to Binance Academy.
What will happen when I'm holding Locked Staking?
We will reduce the cryptocurrency amounts which you're holding in your spot wallet.
What will happen when you're holding Locked Staking?
We have some operations of a blockchain network. For more on staking, please refer to Binance Academy.
About interest distribution and earlier redemption.
From 0:00 AM (UTC) on the day after Locked Staking is confirmed to the end of the corresponding product period, the staking interest is distributed on a daily basis. Also, users can choose to redeem in advance. After choosing early redemption, the principal will be returned to the spot account, and the distributed interest will be deducted from the refunded principal. Due to different global time zones, it takes 48-72 hours to receive the tokens.
Why haven't I received any interest after staking VET, NEO or ONT?
VET, NEO, and ONT are different from other POS tokens. Staking VET rewards VTHO (NEO-GAS, ONT-ONG), therefore the interest is not distributed on a daily basis. Between 00:00 - 04:00 (UTC) on the next day after the product expires, users’ staked NEO, VET, ONT and earned GAS, VTHO, ONG will be automatically transferred to the spot wallets.
When can I redeem the Locked Staking?
You can redeem anytime. Different coins have different redeem period and unchain period from blockchain network.The redemption period on web page is for reference only.
How can I redeem the Locked Staking early?
Open your Binance Wallet - Earn - Locked Staking - Locked - and click the [Redeem] button.
If I redeem my staked tokens early, how is the interest calculated?
You will not lose your principal, but the distributed staking rewards during the lock-up period will be deducted from the principal.
Will my staked Digital Assets be returned to me when the market drops?
Yes, Locked Staking will return the number of staked tokens to users’ spot wallets after the agreed period ends or early redemption. Be aware that the value of tokens fluctuates and is subject to change. When the market drops, users can choose to keep staking the tokens or early redemption.
What cryptocurrencies are supported?
There are more than 110+ cryptocurrencies are supported on Binance Locked Staking. With a one-click stake, you can choose from dozens of cryptocurrencies like BNB, DOT, SOL, MATIC, and so on.
My staked product has expired and automatically restaked, when does the interest accrue and pay out?
The day you staked product expires, it will automatically stake to its previous duration product and accrue interest immediately. For example, if your staking expired on Mar 1st, it will auto-stake on Mar 1st, and the interest will start to accrue on the same day. It will be distributed to you on Mar 2nd.
Can I choose early redemption after auto-staking?
Yes, you can choose to redeem in advance. After choosing early redemption, the principal will be returned to the spot account, and the distributed interest will be deducted from the refunded principal. Due to different global time zones, it takes 48-72 hours to receive the tokens.