Binance has introduced the “Happy Staking” promo, a locked staking practice that will provide users with a huge yield. According to the network, the promotion offers up to 42.79 percent Annual Percentage Yield (APY).
What is Locked Staking, and how does it work?
The method of keeping funds in a cryptocurrency wallet to finance the activities of a blockchain network is known as locked staking.
The advantage of this method is that users can earn staking prizes while also helping the custodian and enhancing the network. Users can gain liquidity rewards by participating in Binance’s locked staking program, which is offered seamlessly.
What are the benefits of the ‘Happy Staking’ promo?
As previously mentioned, users can win a prize by simply participating in the locked-staking activity. You can stake your SOL, ONE, RAMP, OGN, and ROSE and win up to 42.79% APY.
- Locked Staking is done on a first-come, first-served basis.
- Interest Calculation Time is from 0:00 AM (UTC) on the day Locked Staking is confirmed to the end of the equivalent product period.
- Interest payout occurs on a regular basis.
The specifics are shown in the following table from the Binance announcement:
|Digital Assets||Duration||Max. Locked Staking Limit Per User||Standard Annualized Interest Rate||Min. Locked Staking Limit|
|SOL||15 days||3,000 SOL||34.49%||0.1 SOL|
|ONE||15 days||3,000 ONE||42.79%||1 ONE|
|RAMP||15 days||1,000 RAMP||24.70%||1 RAMP|
|OGN||15 days||300 OGN||21.49%||0.5 OGN|
|ROSE||15 days||20 ROSE||37.49%||1 ROSE|
- Go to Wallets > Savings > Locked Staking to see your Locked Staking assets.
- The APY is updated regularly based on on-chain staking incentives, and the current page display determines the particular APY.
- Locked Staking products take one day to unlock
Even though the ‘happy staking’ promo is a tempting opportunity for traders, the Binance team has encouraged consumers to trade responsibly. They would, though, do everything possible to supply users with the highest-quality coins possible.