Binance, the world’s largest cryptocurrency exchange with daily trading volume, included 12 altcoin projects in its announcements today. According to Binance’s statements, new rates for Phantom (FTM) staking have been announced. Also, the tick size of 11 altcoin projects has been changed. Here are the details…
Binance launches locked staking for FTM
Binance Staking has launched FTM Locked Staking. So you can stake your Phantom (FTM) token starting August 10, 2022, 15:00 CET to earn multiple rewards. This staking format is set on a “first come, first served” basis. The reward calculation period, on the other hand, will cover the process from the day after adding your cryptocurrency to a stake pool until the end of the staking period. Rewards will be paid out daily. You can see important data such as interest income, maximum and minimum amount of locked tokens for the phantom staking service in the table below:
Binance Staking will refund staked cryptocurrencies to users’ spot wallets at the end of the agreed staking period. Users can view their Locked Staking assets by going to Wallets > Earn > Locked Staking. Users can enable the “Auto-Stake” function before completing their subscription to Staking products, which will automatically add cryptocurrencies to the stake pool at the end of the staking period.
Details of 2 special Phantom promotions
It is necessary to address the details of the two promotions regarding phantom staking. The first promotion will take place on August 10, between 15 and 20 August. For this promotion, 500 users will be selected from all eligible participants. Each selected user will receive 100 FTM tokens. During the promotion period, users who meet both of the following requirements are eligible to participate in this promotion:
- Those who have a net purchase amount of 800 FTM or more.
- Those who participate in 30, 60 or 120 days of FTM Locked Staking.
The second promotion will take place in the same processes as above. During the promotion period, the first 2,000 users who participate in Locked Staking for the first time and have a minimum of 500 FTM on FTM Locked Staking products will be eligible to share 50,000 FTM as rewards according to the reward structure below.
The “tick size” for these altcoins has changed
Finally, “to increase market liquidity and improve the trading experience” Binance will adjust the size of certain spot trading pairs (i.e. the minimum change in unit price) on August 17 at 10 CEST. Tick size update does not affect existing spot orders. Once the tick size is updated, the orders placed before the update will continue to match the original tick size. You can see the list of cryptocurrencies that will change in size in the table below:
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