Wednesday, November 30, 2022
HomeCrypto NewsExchangesBinance Launches New Staking Program For Shiba Inu (SHIB) And Other Cryptocurrencies

Binance Launches New Staking Program For Shiba Inu (SHIB) And Other Cryptocurrencies

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The world’s largest cryptocurrency exchange, Binance, has launched a new staking initiative with high ROI for Shiba Inu (SHIB) and other digital currencies. 

According to a blog post by the trading platform, the staking initiative dubbed High-Yield Center will allow SHIB holders to stake the cryptocurrency in order to earn up to 104.62% APY. 

Shiba Inu Requirement

The staking exercise will officially commence today at 02:00 AM (UTC) and will be on a first-come, first-served basis, Binance added.  

Notably, the staking duration for Shiba Inu cryptocurrency will span for 10 days, as interested participants will be required to stake a minimum of 200 SHIBs and a maximum of 7 million Shiba Inu tokens.

Binance added that interest payout time will be added on a daily basis, which is expected to start at 00:00 AM (UTC) on the day the locked stake is confirmed until the next 10 days. 

 

Requirements for Other Cryptos

The world’s largest exchange also introduced the initiative for other cryptocurrencies like Solana (SOL), Axie Infinity (AXS), Polygon (MATIC), VeChain (VET), Cadano (ADA), Near (NEAR), LUNA, Avalanche (AVAX), PancakeSwap (CAKE), and Terra (LUNA). 

While SOL has the lowest annualized standard interest rate of 7.32% in the Binance High-Yield Center stake, AXS has a ROI of 104.62%. 

 

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Ammara
Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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