Binance Supported TomoChain Staking – Hold TOMO To Earn Rewards
Binance has added support for TomoChain (TOMO) staking starting from 2020/04/18 and will distribute TOMO staking rewards as detailed below:
Binance Supported TomoChain Staking Details
- Starting from 2020/04/18 at 00:00 AM UTC, Binance will begin taking live snapshots of user TOMO balances.
- TOMO Staking distribution will be calculated as follows:
TOMO generated by each user = Total TOMO staking rewards received by Binance * User TOMO holdings ratio.
- User TOMO holdings ratio = Average user TOMO holdings / Average total TOMO staked by Binance.
- Users must hold at least 5 TOMO in order to qualify for staking rewards.
- The initial distribution of TOMO staking rewards will be calculated through to 2020/05/31, with the total amount distributed equal to the staking rewards accrued during the period.
- TOMO rewards are calculated daily and distributed monthly. Distributions will be completed before the 20th of each month.
— Binance (@binance) April 17, 2020
You can read tutorial of Binance staking at: Binance Staking Tutorial
Binance Supported TomoChain Staking – Hold TOMO To Earn Rewards – Cryptokiemtien