Binance Staking has launched DeFi staking and will start with DAI as the first DeFi Staking product at 2020/08/19 12:30 PM (UTC). Details are below.
Product List (DeFi Staking)
|Digital Assets||Term to Maturity||Individual Locked Staking Limit||Total Locked Staking Limit||Standard Annualized Interest Rate||Minimum Locked Amount||Unlock period|
|DAI||Flexible Locked||No upper limit||No upper limit||5.8%||100 DAI||1 Day|
|DAI||7 Days||100,000 DAI||2,000,000 DAI||10%||100 DAI||1 Day|
|DAI||30 Days||100,000 DAI||1,000,000 DAI||12%||100 DAI||1 Day|
- DAI will be used to participate in Compound Staking.
- Users can view their locked staking assets by going to Wallets > Savings > DeFi Staking.
- Once your tokens are locked-up using a DeFi Staking product, your assets will no longer earn monthly staking rewards.
- DeFi Staking FAQ
What is DeFi Staking on Binance?
DeFi (Decentralized Finance) is a way of providing financial services to users through smart contracts. Existing DeFi products are aimed at providing higher annualized earnings for specific currencies.
What are the advantages of DeFi Staking on Binance?
- Easy to use: You don't need to manage private keys, acquire resources, make trades, or perform other complicated tasks to participate in DeFi Staking. Binance's one-stop service allows users to obtain generous online rewards without having to keep an on-chain wallet.
- Funds are safe: Binance selects only the top DeFi projects in the industry and monitors the DeFi system in real-time while it's running in order to reduce the risks associated with such projects.
- Higher earnings: DeFi Staking does away with the exorbitant fees that come with trading capital. Users are able to earn the highest possible returns in the best way, while maintaining the same level of risk.
Risk Warning: Binance strives to offer its users only the best DeFi Staking projects. However, Binance only acts as a platform to showcase projects and provide users with related services, such as accessing assets on DeFi projects through a proxy and distributing earnings, etc. Binance will not assume liability for any losses incurred due to project on-chain contract security issues.
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