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Binance Will Support the Distribution of VTHO to VET Holders

Binance Will Support the Distribution of VTHO to VET Holders

2018-07-25 09:37

Fellow Binancians,

After discussing with the VeChain (VET) team, Binance will support the distribution of VTHO to VET holders. The VTHO will be distributed on a monthly basis, but calculated based on daily snapshots of each user’s VET balance.

Daily VTHO generated by each user = Daily total VTHO generated by Binance * User VTHO holdings ratio1

1User VTHO holdings ratio = User VET holdings / Total VET held on Binance

Note:

  • VET balances under 1 VET (including those in trade orders) will not be included into the daily VTHO calculations.
  • VTHO generation is calculated daily but distributed monthly. Distributions will be completed before the 5th of each month.
  • Binance will begin calculating VTHO from 2018/07/23.

For further details on the exact calculation methodology, please refer to Page 38 of VeChain Development Plan and Whitepaper.

Thanks for your support!

Binance Team
2018/07/25

 

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