Binance & Kyber Network Staking Bonus - DropsEarn
Binance & Kyber Network Staking Bonus

Binance & Kyber Network Staking Bonus

    Binance will be adding support for Kyber Network (KNC) staking starting and will distribute staking rewards denominated in ETH.

    Reward pool
    $100,000
    Expected profit
    proportionally
    Max participants
    DropsEarn score
    Neutral

  • Activity Type: Staking Buy&Hold Competition Random reward
  • Date: 15 Jul 2020 02:00(UTC+3) - 15 Oct 2020 02:00(UTC+3)
  • Registration: Open
  • Event status: You can participate (Event started, Registration open)
  • Links: Official Announcement
Go to event page

How To Participate:

  1. Visit the Binance website  
  2. Sign in or up an account if you dont have one
  3. Go to the Binance staking page 
  4. Read participation details below

Details

Monthly KNC Staking Airdrop Program

  • Starting from 2020/07/15 at 00:00 AM UTC, Binance will begin taking live snapshots of user KNC balances.
  • Rewards distribution will be calculated as follows:


ETH generated by each user = Total KNC staking rewards received by Binance * User KNC holdings ratio.

  • User KNC holdings ratio = Average user KNC holdings / Average total KNC staked by Binance.
  • Users must hold at least 1 KNC in order to qualify for staking rewards.
  • The initial distribution of KNC staking rewards will be calculated through to 2020/07/31, with the total amount distributed equal to the staking rewards accrued during the period.
  • KNC rewards are calculated daily and distributed monthly. Distributions will be completed before the 20th of each month.

Additional 100,000 USD Rewards in KNC

To celebrate the launch of Binance Staking, Kyber will sponsor an additional 100,000 USD worth of KNC in rewards. The rewards will be distributed as an additional bonus pro-rata to users who stake KNC through the first 3 months based on the above calculation, with $33,333.33 in rewards for each period.