Binance Digital Asset Exchange is to start adding support for Ark (ARK) staking rewards starting from April 15, 2020. Binance will begin to distribute ARK staking rewards as detailed in the outline below:
ARK Staking Program Details:
- Starting from April 15, 2020 at 00:00 AM (UTC), Binance will begin to take snapshots of user ARK balances on users accounts.
- ARK Staking distribution will be then be calculated as followed:Total amount of ARK generated by each user = The total ARK staking rewards received by Binance Exchange (total asset holdings) * The total caluclated user ARK holdings ratio.
- The user ARK holdings ratio = The average user ARK holdings / Average total ARK staked by Binance platform.
- In order to receive rewards, users must hold at least a minimum balance of 5 ARK
- Initial distribution of ARK staking rewards will be calculated through to May 31 2020, with the total amount distributed equal to the staking rewards accrued during this period.
- ARK rewards for user balances are calculated daily and then distributed monthly. Distributions will be completed before the 20th day of each month.
Make sure to move your coins to Binance Exchange from anywhere and enjoy hassle-free staking rewards. See more coins available for staking on Binance
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