Buy Crypto
Markets
Trade
Futures
Earn
Square
More
Announcement
Home
Support Center
Announcement
Latest Binance News
Binance Will Support Zero Fee Tezos (XTZ) Staking

Binance Will Support Zero Fee Tezos (XTZ) Staking

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

 

Find us on 

Telegram: https://t.me/binanceexchange

Twitter: https://twitter.com/binance

Facebook: https://www.facebook.com/binance 

Instagram: https://www.instagram.com/binance