Encryption currency exchange Binance launches Soft Staking product
Binance, a cryptocurrency exchange, announced today (18) the launch of Soft Staking, a product that allows users to earn staking rewards by simply holding specified tokens in their spot accounts and enabling Soft Staking with one click, without any lock-up requirements.
According to the Binance announcement, the revenue from Soft Staking comes from the on-chain staking mechanism, where the tokens deposited by users and the rewards distributed are usually the same tokens. The revenue is calculated based on the daily average holding amount of qualifying tokens in the user’s spot account and is distributed to the spot account daily. Currently supported tokens for Soft Staking include: BNB, SOL, ADA, SUI, TON, NEAR, POL, ALGO, S, and AXS.
Source: Binance
