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.
#Binance Staking launches High-Yield Center: Stake & Earn up to 104.62% APY.
➡️ https://t.co/Vn4LqkT544 pic.twitter.com/whoeCD5O4K
— Binance (@binance) February 17, 2022
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%.