This is a general announcement. The products and services described here may not be available in your area.
Dear Binance Community Members,
Binance Earn is launching a promotion for SOL staking on Binance. Stake SOL and earn BNSOL, and complete the Web3 quest for a chance to win multiple rewards:
part of the prize pool up to $100,000 in SOL;
one of 20 Solana Seeker phones;
APR rewards of around 5% for SOL* staking via BNSOL (SOL staking on Binance).
*Note: Users can see staking rewards here. The reward amount changes from time to time.
How to qualify:
Click Register on the promotion page.
Complete the actions in Promotion A and Promotion B.
Promotion period: from 09/24/2024 03:00 to 10/25/2024 02:59 (UTC+3).
Promotion A: Stake SOL and/or complete Web3 Quest to share up to $100,000 and 10 Solana Seeker phones
Users can stake SOL and earn BNSOL and/or complete a Web3 quest to increase their overall BNSOL score, based on which they will be ranked in a leaderboard and will be able to share the dynamic prize pool listed below.
Dynamic prize pool:
The total Dynamic Prize Pool that will be unlocked depends on the total BNSOL score of all qualified participants during the promotion period and can be up to 745 SOL.
Remuneration structure
Calculating the overall BNSOL score:
Promotion period: from 09/10/2024 03:00 to 10/25/2024 02:59 (UTC+3).
Calculation parameters
BNSOL Net Stake Value = Total BNSOL staked via SOL Staking on Binance + Total BNSOL staked in Binance Web3 Wallet (all wallets)* - Total BNSOL redemption value for SOL - Total amount of SOL lock-in products closed early (converted to BNSOL for promotion calculations based on daily conversion rates)
Users must stake any amount of SOL and obtain BNSOL via staking SOL on Binance in order for their net BNSOL staked amount to qualify.
A snapshot of a user's net staked BNSOL amount will be taken randomly once every 24 hours (i.e., from 03:00 to 02:59 (UTC+3) during the promotion period and reflected in the leaderboard).
*Users will be able to stake SOL and receive BNSOL via Binance Web3 Wallet once BNSOL staking on Binance Web3 Wallet is live. Rankings will be available on the leaderboard once the data is ready to sync.
Web3 Quest Multiplier = 1.5 or 1.
Users can withdraw any amount of BNSOL from their Binance Spot Wallet to their Binance Web3 Wallet (MPC wallets only) during the promotion period to receive a 1.5x Web3 Quest multiplier.
Completing Web3 quest is optional. If Web3 quest is not completed, Web3 quest multiplier = 1.
Multipliers will be applied to users' net staked BNSOL to calculate their total BNSOL score.
Please note that if users stake BNSOL directly through Binance Web3 Wallet (all wallets), if this feature is available, they will automatically receive a Web3 Quest multiplier of 1.5. Otherwise, users must complete the Web3 Quest to receive the multiplier.
Examples of calculating the overall BNSOL score
Let's assume the conversion rate is 1 SOL = 0.99 BNSOL for a simple illustration. The actual conversion rates will be applied based on the day and time of these user actions.
All eligible users will be ranked by their total BNSOL earned each day during the promotional period. The top users will be eligible to share the dynamic prize pool listed above.
Promotion B: Save 1 BNSOL to enter a special draw for a Solana Seeker phone
Binance is holding a special giveaway. On 2024-10-25 02:59 (UTC+3), we will use the BNB Smart Chain hash value to automatically select 10 participants for Promotion A. To participate, stake and maintain a minimum of 1 BNSOL until 2024-10-25 02:59 (UTC+3). Each of the 10 selected users will receive a Solana Seeker phone.
About SOL Staking on Binance
SOL staking on Binance allows users to stake their Solana tokens (SOL) to support the operation of the Solana network. By staking SOL on Binance, users increase the security and efficiency of the network. In return, they receive BNSOL tokens (a tokenized version of the SOL used for staking and rewards).
Users can purchase SOL on the spot market or in the Buy Crypto section via various payment methods such as Visa and Mastercards, Apple Pay, Google Pay, and wallet balances to use for staking and earn BNSOL. Alternatively, users can also deposit SOL to their Binance account to use staking and earn BNSOL.
About BNSOL integration into Web3 wallet and DeFi:
BNSOL is also supported in Binance Web3 Wallet. Users can withdraw BNSOL to their Web3 wallet and explore the capabilities of Solana protocols integrated with BNSOL, such as Kamino, Solayer, Drift, Orca, Meteora, MarginFi, Raydium, Sanctum, Save, Jupiter, and Pyth.
Additional information
Terms and conditions
Only those users who pass verification and register for the promotion during the promotion will be able to receive a reward for participating in the promotion.
Please read Binance SOL Staking Terms and Risk Disclosure before staking SOL.
Users can also refer to the SOL Staking on Binance FAQ for more information.
Sub-accounts will not be considered as independent accounts for this promotion. The net SOL staked amount will be combined with the standard net SOL staked amount of the main account.
Web3 wallets created under the same UID/User ID will not be considered as separate accounts for this promotion. All net staked BNSOL under different Web3 wallets under the same UID will be combined to calculate the net staked BNSOL amount.
Distribution of rewards
SOL token airdrop rewards will be distributed to eligible users by 2024-11-21 02:59 (UTC+3) unless otherwise announced by Binance. Rewards can be viewed under Profile > Spot.
Binance will provide a 100% discount code for Solana Seeker phones to all winners via email, outgoing support chat message, and VIP managers (if available) within three weeks after the end of the promotion.
Winners must use the discount code during checkout on the Solana Mobile Store by 12/31/2024 18:59 (UTC+3). If winners do not use the discount code by that date, their reward will be forfeited. Winners will be responsible for any taxes, shipping, and fees, if applicable.
There are no refunds or monetary compensation in lieu of awards.
Binance will use the SOL/USD exchange rate as of 2024/09/12 to calculate the total reward in USD.
Users can see their SOL staked assets on the SOL staking page on Binance.
SOL (BNSOL) staking closing time: four days.
Web3 Wallet Protocols: Binance is not responsible for the performance, security, or reliability of third-party protocols mentioned. Users use these protocols at their own risk. Binance is not responsible for any loss or damage arising from their use. Additional Web3 Wallet Terms of Use are available here.
Binance reserves the right to disqualify any participants it reasonably believes to be fraudulent or in violation of applicable terms and conditions.
Binance reserves the right to cancel or amend the promotion and its rules at its sole discretion.
Additional terms of the promotion are available here.
There may be discrepancies between the translation and the original English article. In this case, please read the original version of the announcement to get the most up-to-date and accurate information.
Thanks for support!
Binance Team
24.09.2024
