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Binance Staking Introduces Auto-Staking Feature & Rebate On Early Redemption
Binance Staking is introducing the Auto-Staking feature, which allows users to automatically add their digital assets/digital currencies to the staking pool again at the end of the staking period. Users may enable the Auto-Staking feature before the Interest End Date by clicking Wallets > Earn > Locked Staking > Auto-Staking.
- The new staking position created by the Auto-Staking feature will include the initial staking amount only. Distributed rewards will not be automatically added to the staking pool.
- A new staking position will be created via Auto-Staking when the initial staking period ends. Users may disable Auto-Staking any time before the Interest End Date.
- The Auto-Staking feature will not create new staking positions for Locked Staking products if the product has already reached the maximum Locked Staking limit.
Rebate on Early Redemption
Binance Staking is introducing a 5% rebate on early redemption. Binance Staking will use 5% of all distributed rewards (which would otherwise be fully forfeited due to early redemption) to create a 90-day staking position. Users will receive the staking rewards on a daily basis and can redeem the principal amount (i.e., 5% of distributed rewards from the original staking subscription) from the newly created 90-day staking position once the staking period expires.
In normal circumstances, when users decide to redeem their assets that are locked in a staking pool before the end of the staking period, any distributed rewards will be deducted from the staked digital assets. Binance Staking introduces a 5% rebate for early redemption to show our appreciation for the community.
- Binance Staking will create a 90-day staking position with 5% of the distributed rewards for users who redeem early if 5% of the distributed rewards meet the required minimum staking requirement.
- This allows eligible users to receive staking rewards for 90 days for the position created, as well as the principal amount (5% of distributed rewards from the original staking subscription).
- The remaining 95% of distributed rewards from the original staking subscription will still be deducted from staked digital assets.
- Early redemption and the Auto-Staking feature will not be available for the staking position created by this feature.
- Users can view their Locked Staking assets by going to Wallets > Earn > Locked Staking > Locked.
- Locked Staking FAQ.
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Binance reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.