This is a general announcement. The products and services described herein may not be available in your region.

Dear Binance Community Members,

Binance Earn is launching a promotion for ETH staking. Take advantage of staking ETH now to earn various rewards:

  • share 99,120 SEI airdrop rewards;

  • Receive rewards in the form of dynamic APR* of approximately 3% by staking ETH.

Note

  • *Dynamic APR is listed here and may change from time to time.

Promotion period: from 06/20/2024 03:00 to 07/08/2024 02:59 (Moscow time). 

How to participate

Users who complete the following tasks during the promotion will be able to participate:

All eligible users will be ranked by total ETH staked during the promotion. The top 500 users will be eligible to share in the rewards listed in the table below. 

Reward structure

Ranking by ETH staking volume during the promotion (in WBETH) 

Reward for every eligible user 

1–10 places

1,200 SEI

11–20 places

920 SEI

21–30 seats

840 SEI

31–40 places

750 SEI

41–50 places

502 SEI

51–100

220 SEI

101–300 seats

140 SEI

301–500

90 SEI

Note: 

  • ETH staking volume (in WBETH) = total amount of WBETH received by staking ETH - total amount of WBETH redeemed to receive ETH - total amount of WBETH traded on the spot market 

  • Users who redeem existing WBETH positions created prior to the promotion, only to create similar positions during the promotion, will have zero ETH staked.

  • Example 1 

    • User A has a staking position of 10 ETH in ETH and received 9,658 WBETH (based on the conversion rate) prior to the promotion start date. User A then decided to redeem 9,658 WBETH and receive ETH, participate in this promotion and stake 10 ETH to earn 9,658 WBETH during the promotion period.

    • User A's ETH staked volume (in WBETH): 9.658 WBETH - 9.658 WBETH = 0 

  • Example 2

    • User B had 10 WBETH before the promotion start date. User B then decided to participate in this promotion and stake an additional 5 ETH to receive 4.80 WBETH (based on the conversion rate) during the promotion period.

    • User B's staking amount (in WBETH): 4.80 WBETH.

  • Example 3

    • User C decided to take part in this promotion and staked 10 ETH, receiving 9.658 WBETH (including conversion rate). User C then decided to sell 9,658 WBETH during the promotion period. 

    • User C's staking volume (in WBETH): 9.658 WBETH - 9.658 WBETH = 0.

  • Each user's ETH staking volume will be calculated based on the WBETH amount during the promotion period. 

  • Direct purchases of WBETH in the WBETH/ETH spot trading pair will not count toward users' ETH staking volume during the promotional period.  

Participate in the promotion

About ETH staking

  • ETH staking allows you to use Ethereum (ETH) tokens to support transactions on the Ethereum network. By staking ETH on Binance, users increase the security and efficiency of the network. In return, they receive WBETH tokens (a tokenized version of the ETH used for staking and rewards). 

Terms and conditions

  • Only those users who pass verification and register to participate in the promotion during the promotion will be able to receive a reward for participating in the promotion. 

  • Binance reserves the right to adjust APR rates at any time without prior notice. Please read ETH Staking Terms before using the service. 

  • Users can also review the ETH Staking FAQ for more information.

  • Sub-accounts will not be treated as separate accounts for this promotion. The subscription amount in sub-accounts will be combined with the standard subscription amount in the main account.

  • SEI airdrop rewards will be distributed to eligible users by 08/11/2024 02:59 UTC unless otherwise provided by Binance. Rewards can be viewed in the menu “Profile > Assets > Spot”. 

  • Users can check ETH staking assets in the section: “Wallets > Earn”.

  • ETH (WBETH) staking deadline: 6 days.

  • Binance reserves the right to disqualify any participants it reasonably determines to be fraudulent or in violation of applicable terms and conditions.

  • Binance reserves the right to cancel or modify the promotion and its rules at its sole discretion.

  • Additional terms and conditions of the promotion are available here.

  • There may be discrepancies between the translation and the original English article. To obtain current and accurate information in this case, read the original version of the announcement.

Thanks for support!

Binance Team

20.06.2024