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How Binance Distributes GAS to NEO Holders
2017-07-20 03:19

All NEO holders on Binance will get GAS which is produced by NEO monthly. The details are as follows. 

1. Calculation Method

GAS distribution amount= total distribution amount of GAS * NEO holder position ratio (with 8 digits after the decimal point)

NEO holders position ratio = sum of daily position amount for NEO holders/ sum of daily position amount for all NEO users

The daily position amount is based on daily snapshot of NEO Balance.

2. Distribution Time

Binane will have corresponding announcements after monthly distribution, please be subject to announcements.

The calculation will start from the first day Binance.com is online. The time of the first snapshot is 00:00 on July 14th, 2017.

3. Example of the calculation

User A hold NEO for three days, he/she has 30, 300 and 60 NEO respectively on those 3 days. Therefore, the sum of daily NEO position is 390.

Assuming that the total distribution number of GAS is 1000 in this month, and the sum of daily position amount for all NEO users is 600000;

Thus, the actual distribution amount of user A = 1000*390/600000=0.65

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