This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
Binance Earn is pleased to launch a promotion for ETH Staking. Stake ETH now to earn multiple rewards:
A share of 99,120 SEI in airdrop rewards;
Earn approximately 3% in dynamic APR* rewards with ETH Staking.
Note:
Promotion Period: 2024-06-20 00:00 (UTC) to 2024-07-07 23:59 (UTC)
How to Participate:
During the promotion period, users who meet the following requirements will be eligible to participate:
All eligible users will be ranked by their total ETH Staking amount during the Promotion Period. The top 500 users will qualify to share the following rewards, listed in the table below.
Reward Structure:
Please Note:
ETH Staking amount (in WBETH) = Total amount of WBETH received from ETH Staking - Total amount of WBETH redeemed to ETH - Total amount of WBETH sold in the spot market
Users who redeem existing WBETH positions created before the promotion only to recreate the same positions during the Promotion Period, will have an ETH Staking amount equivalent to zero.
Case Study 1:
User A has an ETH Staking position of 10 ETH, receiving 9.658 WBETH (based on the conversion ratio) before the promotion start date. Then User A decides to redeem 9.658 WBETH to ETH, opt-in to this promotion, and stake 10 ETH, receiving 9.658 WBETH during the Promotion Period.
User A’s ETH Staking amount (in WBETH): 9.658 WBETH - 9.658 WBETH = 0
Case Study 2:
User B has 10 WBETH before the promotion start date. Then User B opts in to this promotion and stakes an additional of 5 ETH, receiving 4.80 WBETH (based on the conversion ratio) during the Promotion Period.
User B’s ETH Staking amount (in WBETH): 4.80 WBETH.
Case Study 3:
User C opts in to this promotion and stakes 10 ETH, receiving 9.658 WBETH (based on the conversion ratio). Then User C decides to sell 9.658 WBETH during the Promotion Period.
User C’s ETH Staking amount (in WBETH): 9.658 WBETH - 9.658 WBETH = 0.
Each user’s ETH Staking amount will be calculated based on the WBETH amount during the Promotion Period.
Direct purchases of WBETH from the WBETH/ETH spot trading pair will not count toward the calculation of users’ ETH Staking amount during the Promotion Period.
About ETH Staking:
ETH Staking allows users to stake their Ethereum (ETH) tokens to support the Ethereum network’s operations. By staking ETH on Binance, users contribute to the network’s security and efficiency, and will receive WBETH tokens in return (i.e., a tokenized representation of staked ETH and rewards).
Terms & Conditions:
Only users who complete identity verification and confirm their participation during the Promotion Period can qualify for rewards in this Promotion.
Binance reserves the right to adjust APRs at any time without prior notice. Please refer to the Binance ETH Staking Terms and Conditions prior to using ETH Staking.
Users may also view the FAQs on ETH Staking for more information.
Each sub-account will not be viewed as an independent account when participating in this Promotion. Sub-accounts’ subscription amount will be combined with the master account’s standard subscription amount.
SEI token rewards will be airdropped to eligible users by 2024-8-10 23:59 (UTC), unless otherwise advised by Binance. Users may find their rewards via Profile > Assets > Spot Wallet.
Users can view their ETH staking assets by going to Wallets > Earn.
Redemption period for ETH staking (WBETH): Six days.
Binance reserves the right to disqualify any participants that, in its reasonable opinion, are acting fraudulently or not in accordance with any applicable terms and conditions.
Binance reserves the right to cancel or amend the Promotion or Promotion Rules at its sole discretion.
Additional promotion terms and conditions can be accessed here.
There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.
Thank you for your support!
Binance Team
2024-06-20
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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.
Disclaimer: Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. APR is an estimate of rewards you will earn in cryptocurrency over the selected timeframe. It does not display the actual or predicted returns/yield in any fiat currency. APR is adjusted daily and the estimated rewards may differ from the actual rewards generated. Not financial advice. For more information, see our Terms of Use and Risk Warning.
