Following our Initial Algorand Staking 220,000 ALGO promotion, Binance will support participation for Algorand’s 200 Million ALGO Staking Rewards Program. The Algorand Foundation will set aside a 200 Million ALGO Staking distribution across its network over the next two years. This reward will be shared every six months amongst all staking participants on the network.
Starting September 1st, 2019, Binance will participate in this 200 Million ALGO program and distribute any proportional rewards received from this program as follows:
Additional ALGO Staking Rewards Program Rules
Earnings on Binance will be calculated as follows:
ALGO generated by each user = Total ALGO staking rewards received by Binance * User holdings ratio.
User ALGO holdings ratio = User ALGO holdings / Total ALGO staked by Binance
Binance has set up its holdings to ensure that users may receive the largest amount of staking rewards in the coming months. However, if we experience a large amount of withdrawals of ALGO, our earnings from this program will also decrease. Binance will ensure that any rewards received through this program will be distributed to our ALGO holders.
For full transparency into all wallets participating in the Algorand Foundation’s 200 Million ALGO Staking Program, please refer to the complete list here.
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