The latest development brings users impressive stalking numbers for popular tokens across various blockchain ecosystems.
New Binance Staking Center
Binance has announced the launch of a High-Yield Center, giving stakers a chance to earn massive Annual Percentage Yields (APY).
The news of the latest feature debuted via Binance’s Twitter page on February 17, along with a blog spelling out the opportunities offered. Users of the platform will have the ability to stake their AXS, SHIB, VET, SOL, AVAX, NEAR, LUNA, ADA, MATIC & CAKE. On the low end, users can earn 7.32% for staking their VET whereas on the high end users can earn 104.62% for staking AXS.
All the assets minus SHIB (10 days) are locked for a period of 90 days The platform opened on February 17 and is offering these rates on a first-come first-served basis. According to Binance’s announcement page, users can opt in for early redemption at which point the principal will be returned into the spot account and the distributed interest will be deducted from the refunded principal.
Staking is an increasingly popular way for users to earn passive income on their holdings. With a constant influx of new crypto holders, rates well above what is typically offered through traditional banks are quite attractive.
One of the appeals of the Binance platform is that it offers a broad range of staking options. With a user friendly setup, it’s ideal for that new crypto user who is looking to start earning passive income on their assets.
Source : bsc.news
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