Binance Launches THETA Staking Program And Airdrop 1 Million THETA – Hold THETA To Earn Rewards
Binance will be adding support for Theta Network (THETA) staking, starting from 2020/01/23 and will distribute Theta Network staking rewards as detailed below:
Binance Launches THETA Staking Program
- Starting from 2020/01/23 at 00:00 AM UTC, Binance will begin taking live snapshots of user THETA balances.
- THETA Staking distribution will be calculated as follows:
TFUEL generated by each user = Total TFUEL staking rewards received by Binance * User THETA holdings ratio.
- User THETA holdings ratio = Average user THETA holdings / Average total THETA staked by Binance.
- Users must hold at least 10 THETA in order to qualify for staking rewards.
- The initial distribution of Theta Network TFUEL staking rewards will be calculated through to 2020/02/29, with the total amount distributed equal to the staking rewards accrued during the period.
- Rewards are calculated daily and distributed monthly. Distributions will be completed before the 20th of each month.
— Binance (@binance) January 22, 2020
Additional 1 Million THETA Airdrop Program
With support from the Theta Network team, Binance will distribute an additional 1 million THETA Rewards to users who hold THETA tokens during the first two periods of the THETA staking airdrop program. Users will earn their share of 500,000 THETA tokens in each staking period in accordance with the same User THETA Holdings Ratio as stated above.
You can read tutorial of Binance staking at: Binance Staking Tutorial