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Binance Will Support Zero Fee Tezos (XTZ) Staking

Binance
2019-12-03 00:55

Fellow Binancians,

Binance will add support for Tezos (XTZ) staking starting from 2019/12/04. XTZ rewards will be calculated daily based on live snapshots and distributed monthly, with the first distribution to be completed before 2019/01/20. Distributions will be completed before the 20th day of each following month. Binance will distribute XTZ staking rewards as detailed below:

Monthly XTZ Staking Airdrop Program

  • Starting from 2019/12/04, Binance will begin taking hourly snapshots of user XTZ balances at 00:00 AM UTC.
  • XTZ Staking distribution will be calculated as follows:
    XTZ generated by each user = Total XTZ staking rewards received by Binance * User XTZ holdings ratio.
    User XTZ holdings ratio = User XTZ holdings / Total XTZ staked by Binance.
  • Users must hold at least 1 XTZ in order to qualify for staking rewards.
  • The initial distribution of XTZ staking rewards will be calculated up until 2019/12/19, with the total amount distributed equal to the staking rewards accrued on holdings during the period.
  • Since XTZ rewards mature after 7 cycles (roughly 3 weeks) of staking, rewards will be distributed prior to the 20th day of the following month in which the rewards began to accrue.
  • For example, users who deposit XTZ between 2019/12/04 and 2019/12/19 will receive their first distribution by 2020/01/20. Users that deposit XTZ between 2019/12/20 and 2020/01/19 will receive their distribution of rewards by 2020/02/20.

Learn more about staking here.

Move your coins to Binance from anywhere and enjoy hassle-free staking rewards. Other rewarded coins supported by Binance can be found on the Staking Home Page here.

Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Binance will make best efforts to choose high-quality coins, but will not be responsible for your trading losses.

Thank you for your support!

Binance Team

2019/12/03

 

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