Luisa Crawford
Nov 28, 2024 13:16
Binance announces the launch of Pyth Network (PYTH) on BNSOL Super Stake, offering users PYTH APR Boost Airdrop Rewards for staking SOL into BNSOL.
Binance has unveiled the introduction of the Pyth Network (PYTH) on its BNSOL Super Stake platform, offering users the opportunity to earn PYTH APR Boost Airdrop Rewards. This initiative is set to run from December 2, 2024, through December 16, 2024, as reported by Binance.
Details of the BNSOL Super Stake
The BNSOL Super Stake is a new product launched in collaboration with Pyth Network, an advanced oracle network. Users who hold BNSOL or stake SOL into BNSOL through their Binance accounts or Web3 Wallets during the specified period will be eligible for the PYTH APR Boost Airdrop Rewards. These rewards provide an additional token airdrop on top of the base Annual Percentage Rate (APR) from Binance SOL Staking, thus enhancing the user’s earnings.
Claiming PYTH Rewards
The PYTH APR Boost Airdrop Rewards will be available for daily claims starting December 3, 2024, at approximately 05:30 (UTC). Eligible users can claim their rewards on the SOL Staking page, or they will be automatically airdropped to users’ Spot Wallets after the campaign concludes on December 17, 2024.
Acquiring BNSOL
Users can obtain BNSOL through several methods: staking SOL via the SOL Staking page, using the Binance Web3 Wallet, or purchasing BNSOL on the Spot Market, Convert, Auto-Invest, or Buy Crypto pages. BNSOL represents staked SOL plus accrued rewards in a tradable form, offering flexibility over traditional staking by allowing transfers and usage outside the Binance platform.
Additional Information
Binance emphasizes the need for users to complete identity verification to participate in the staking program. The PYTH APR Boost Airdrop Rewards are supported by the protocol team to stimulate promotional activities. Daily snapshots of users’ BNSOL positions will determine the reward calculations, which are based on the previous day’s snapshot.
It is important to note that the BNSOL:SOL conversion ratio is dynamic and updates every Solana network epoch. Users can redeem BNSOL tokens for SOL based on this conversion ratio, with a redemption period of approximately four days.
Participation in BNSOL Super Stake is subject to regional eligibility and regulatory limitations. Binance reserves the right to amend or cancel the promotion at any time.
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