Binance Launches KAVA Staking Program And Airdrop 30,000 KAVA – Hold KAVA To Earn Rewards
Binance will be adding support for Kava (KAVA) staking, starting from 2019/12/18. Binance will distribute KAVA staking rewards as detailed below:
Binance Launches KAVA Staking Program
- Starting from 2019/12/18, Binance will begin taking hourly snapshots of user KAVA balances at 00:00 AM UTC.
- KAVA staking distribution will be calculated as follows:
KAVA generated by each user = Total KAVA staking rewards received by Binance * User KAVA holdings ratio.
User KAVA holdings ratio = User KAVA holdings / Total KAVA staked by Binance.
- Users must hold at least 1 KAVA in order to qualify for staking rewards.
- The initial distribution of KAVA staking rewards will be calculated through to 2020/01/31, with the total amount distributed equal to the staking rewards accrued on holdings during the period.
- KAVA rewards are calculated daily (hourly snapshots) and distributed monthly. Distributions will be completed before the 20th of each month.
— Binance (@binance) December 17, 2019
Related Reading: Binance Launches Tezos And Cosmos Staking Program
Airdrop 30,000 KAVA ($31,000) For Initial Staking
Binance has received 30,000 KAVA in initial staking rewards from operating a validator on the Kava network, and has decided to distribute these staking rewards to our users along with the first three disbursements of the Kava Staking Airdrop Program (10,000 KAVA each for the first three months). The amount received will be calculated proportionally from the same daily snapshots for the Staking Airdrop. Users must hold at least 1 KAVA in order to qualify for the promotion.
You can read tutorial of Binance staking at: Binance Staking Tutorial