Elrond recently announced entering into a strategic partnership with Binance to deploy a novel EGLD staking pool. After providing support to the launch of the main Elrond network, Binance Staking is currently focusing on the operation of the Validator Nodes to execute transactions and ensure the security of the network. As the genesis launch validator and strategic partner of Elrond, the Binance platform is looking forward to becoming Elrond’s Staking Provider to offer efficient services to Elrond delegators. The two platforms now offer lucrative rewards to the EGLD stakers at the Earn section of Binance CEX. The users of the two platforms will be able to engage in EGLD, staking to rake in multiple rewards.
The much-awaited staking event shall commence with the launch of a series of unique high-yield EGLD Locked Staking activities. The EGLD Staking session will begin at 12:00 pm (UTC) on 21.10.2021 and the stakers shall receive rich rewards right after the EGLD staking session. More details about the EGLD Staking event are mentioned below:
The activity involves the deposit and staking of EGLD tokens over a span of 10, 30, 60, and 90 days, and one can rake in up to 55.49% of the APY. The Locked Staking Format is on a first-come, first-served basis. The platform shall begin with the estimation of interests on the day after the confirmation of Locked Staking and the interest calculation will continue until the termination of the corresponding product interval. Users will be able to look at their Locked Staking assets by clicking on Wallets and selecting ‘Earn’ followed by ‘Locked Staking’ and ‘Locked’. The platforms seek to adjust the APY everyday on the basis of the on-chain staking rewards.