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Binance, the world’s largest crypto exchange, announced this week that it now supports passive staking for Stratis (STRAT), a project building a blockchain platform for enterprise and financial services.
#Binance Will Support @stratisplatform ( $STRAT) Staking & Launch a 50,000 STRAT Initial Staking Reward Airdrophttps://t.co/LaeUEUtG8V
Users holding STRAT on Binance may expect to receive a 1st staking reward bonus from an additional $25,000 equivalent pool of STRAT. pic.twitter.com/V4JohCM6dp
— Binance (@binance) August 2, 2019
According to the announcement, Binance will begin taking daily snapshots of user STRAT balances at 8:00 PM (EDT) on August 2. The initial reward distribution will occur on September 1, with monthly distributions on the 5th of each month moving forward.
To celebrate the launch of STRAT staking, Binance will be giving away 50,000 STRAT ($25,000) during the first disbursement in September. These rewards will be given on top of each investor’s normal staking payout.
Binance also supports staking for a number of other altcoins, including NEO (GAS), Ontology (ONT), VeChain (VET), Tron (TRX), Stellar (XLM), Komodo (KMD), Algorand (ALGO), and Qtum (QTUM).