Binance.US added support for Algorand (ALGO) staking, which went live Monday, February 17th, 2020.
Binance.US will calculate and distribute Algorand staking rewards as detailed below:
- From February 17th, 2020, Binance.US takes daily snapshots of user ALGO balances at 00:00 AM UTC.
- ALGO Staking distribution will be calculated such that ALGO generated by each user = Total ALGO staking rewards received by Binance.US * User holdings ratio.
- Where User ALGO holdings ratio = User ALGO holdings / Total ALGO staked by Binance.US.
- Users must hold at least 2 ALGO in order to qualify for staking rewards.
- ALGO rewards are calculated daily and distributed monthly. Distributions will be completed before the 20th of each month.
To learn more, visit our Binance.US blog on staking.
Binance.US is a fast and secure marketplace providing access and trading across a diverse selection of digital assets. We will continue evaluating coins, tokens and trading pairs to offer on Binance.US in accordance with our Digital Asset Risk Assessment Framework, community feedback, and market demand.
Risk warning: Buying, selling, and holding cryptocurrencies are activities that are subject to high market risk. The volatile and unpredictable nature of the price of cryptocurrencies may result in significant loss. Binance.US is not responsible for any loss that you may incur from price fluctuations when you buy, sell, or hold cryptocurrencies.
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