Binance, the world’s largest cryptocurrency exchange by daily trading volume, has made announcements covering various altcoins. Some of the announcements came from custodian Binance Custody. Here are the details…
Rewards and APY rate updated for REEF staking
Binance announced in its first announcement that it has started locked staking for REEF. You can stake your REEF from June 1, 2022 to earn multiple rewards. Users will be able to earn up to 119.79 percent as an annual rate of return (APY). This promotion period will run from 1 June at 15:00 until 11 June at 14:59 CET. The locked staking format is on a “first come, first served” basis, while the reward calculation period runs from the day you add your cryptocurrency to a stake pool, until the end of the staking period. The table of staking amount and returns is as follows:
Binance Liquid Swap adds various trading pairs
According to another announcement, the exchange has opened four new liquidity pools for its Liquid Swap. As we have also announced as Kriptokoin.com, the swap feature that comes with liquidity farming is a liquidity pool developed based on the AMM (Automatic Market Maker) principle. Like all other DeFi swaps, it consists of different liquidity pools, with two tokens or fiat assets in each liquidity pool.
To become a liquidity provider, you can provide liquidity in pools, earn transaction fees and flexible interest. The latest pairs added by Binance to Liquid Swap are as follows:
- ELF/BTC
- ELF/USDT
- TR/USDT
- GAL/USDT
Added new assets for Flexible Savings
Binance on Flexible Savings, a service for users with idle digital assets to realize value (Flexible Savings) has added BEL, DNT, JST, LTO, OP, RAD, RVN, and UFT to the list of supported assets. It’s worth noting that subscriptions close on certain products when the maximum limit is reached.
Six new cryptos have been added to Binance Custody
Six new assets have been added to Binance’s Custody division to provide a superior custody solution for institutions. Added cryptocurrencies as follows: MTL, QKC, XVS, BAL, SUSD, POND.
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