Binance has launched its locked staking feature for NEO and is offering rewards to incentivize users of its product. Two concurrent reward campaigns will conclude at 11:59 a.m. (UTC) on June 12, 2022.
The first promotion entails a higher APY for users that stake between 0.01 and 15 NEO for 30 days. Binance estimates the APY will be around 32% for this promotion. The APY is adjusted daily, and the estimated earnings may differ from the actual earnings generated.
The second promotion is limited to the first 1,000 accounts using Binance’s Locked Staking feature for the first time. To become eligible, users must stake a minimum of 15 NEO to earn rewards from a pool of 730 NEO. Prizes vary from 0.3 to 2 NEO according to the ranking in the order that users staked tokens.
About Binance Staking
The platform provides two types of staking: flexible and locked. Flexible staking offers fewer rewards but allows users to move the underlying assets at any time. Locked staking requires users to deposit a token for a specific time frame but provides higher yields. For example, a minimum of 0.01 NEO locked for 15, 30, 60, or 120 days will earn increasing yields of 5.79%, 7.49%, 8.79%, and 13.56% (made in GAS distributions), respectively.
Binance Staking recently claimed two positions on the Neo Council.
More information can be found at the link below: https://www.binance.com/en/support/announcement/5bd05ffa7e8e44f1822f48205c2812ab
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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