Fellow Binancians:
Binance has launched an ETH 2.0 Staking service starting from 2020/12/02 0:00 AM (UTC). Users that participate in ETH 2.0 staking will receive BETH* at a ratio of 1 ETH = 1 BETH. In addition, ETH 2.0 staking rewards will be distributed daily in the form of BETH.
*BETH tokenizes a user’s stake in the ETH 2.0 pool at a 1:1 ratio. BETH will allow users to redeem ETH at a 1:1 ratio when ETH 2.0 Phase 1 goes live.
Binance ETH 2.0 Staking Advantages: Binance will cover all validator operating expenses for users, bear the risk of on-chain penalties, and all on-chain staking rewards will be distributed to users.
ETH 2.0 Staking:
- Reward period begins: 2020/12/02 0:00 AM (UTC)
- Minimum stake amount: 0.0001 ETH
- Staking APY: 5%-20%, based on actual on-chain staking income
- Reward calculation: During the ETH 2.0 staking period, BETH rewards will be distributed daily based on user BETH holdings.
- In the future, if BETH is made available for trading, users will be able to freely trade between ETH and BETH. (Note: The trading price is determined by the market, and the spread caused by the transaction shall be borne by users).
Double Rewards Activity
Activity Period: 2020/12/02 0:00 AM-2020/12/16 0:00 AM (UTC)
Users who have completed KYC prior to the end of the activity period will receive an additional reward in BNB equivalent to the average BNB/ETH value of BETH earned as staking rewards by each respective user during the activity period, effectively doubling each qualifying user's reward.
Note: Qualifying users can earn double rewards on up to a maximum of 5,000 staked ETH. Should users stake more than 5,000 ETH, the rewards earned from the additional amount will be removed from the additional BNB reward calculation.
Terms & Conditions
- BETH will be priced at the market price of ETH, and BNB rewards will be distributed at the average price of BNB/ETH.
- The BNB rewards during the activity will be distributed in two instances. The staking income from 2020/12/02-2020/12/10 will be distributed on 2020/12/11. The staking income form 2020/12/11-2020/12/16 will be distributed on 2020/12/18.
- All BNB rewards will be distributed to users' spot accounts;
- The daily received BETH can be viewed on ETH 2.0 Staking page.
- Lock-up period: For participating ETH 2.0 Staking, the ETH will be locked up for about 2 years and cannot be redeemed in advance.
- Redeem: when ETH 2.0 mainnet goes live, users can redeem their staked ETH at a 1:1 ratio with BETH. The redemption ETH number will be based on the amount of BETH holding instead of the initial staking amount.
- Binance reserves the right to cancel or amend any Activity or Activity Rules at our sole discretion.
Risk warning: Cryptocurrency investment is subject to high market risk. Binance is not responsible for any direct, indirect, or consequential losses as a result of the trading competition. Please make your investments with caution.
Thanks for your support!
Binance Team
2020/12/01
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