Binance, the world’s largest cryptocurrency exchange by trading volume, recently revealed that the platform had earned 9.5 million Stellar Lumens (XLM) from staking the cryptocurrency.
$775,000 of XLM Will Be Distributed to Binance Users
In August 2018, the Stellar team advised Binance’s management regarding how to earn staking rewards by changing various parameters on the exchange’s hot (online) crypto wallets and cold storage (offline) wallets.
After following Stellar team’s recommendations, the Binance platform managed to earn $775,000 worth of XLM tokens (at current market prices). Binance documented the amount earned each week from staking XLM since August 31, 2018.
Adding Support for XLM Staking, Distributing 9.5 Million XLM Earned from Staking
The Binance team is now planning to add staking support for XLM on its platform, and the leading exchange will also share the 9.5 million XLM it earned through staking. Currently, Binance’s platform distributes NeoGas for NEO stakeholders, Ontology Gas tokens for Ontology investors, BitTorrent tokens for TRON investors, and VTHO (“VeThor”) tokens for VeChain holders. Read More CryptoSlate...