Binance Staking has launched new high-yield CHESS Locked Staking activities. Stake your CHESS to earn up to 42.17% APY with BNB as rewards, starting from 2022-02-07 at 12:00 PM (UTC).
Activity 1: Stake CHESS to Earn BNB, with APY Up to 42.17%
- Locked Staking Format: First-come, first-served basis.
- Interest Calculation Period: From 00:00 AM (UTC) on the day after Locked Staking is confirmed to the end of the corresponding product period.
- Interest Payout Time: Between 00:00 AM – 04:00 AM (UTC) on the next day after the product expires, users’ staked CHESS and earned BNB will be automatically transferred to users’ spot wallets.
Offered Products (Locked Staking)
|Asset||Duration||Max. Locked Staking Limit Per User||Standard Annualized Interest Rate||Min. Locked Staking Limit|
|CHESS||10 days||100 CHESS||42.17%||10 CHESS|
|CHESS||30 days||1,000 CHESS||12.15%||10 CHESS|
|CHESS||60 days||2,000 CHESS||15.52%||10 CHESS|
|CHESS||90 days||1,000 CHESS||18.68%||10 CHESS|
- Users can view their Locked Staking assets by going to Wallets > Earn > Locked Staking > Locked.
- The APY is adjusted daily based on the on-chain staking rewards and the specific APY is subject to the page display on the day.
- Unlock period for Locked Staking products: 1 day.
- Locked Staking FAQ.
- About early redemption: Users can choose to redeem in advance. After choosing early redemption, the principal will be returned to the spot account, and the distributed interest will be deducted from the refunded principal. Due to different global time zones, it takes 48-72 hours to receive the tokens.
Activity 2: Buy & Stake CHESS to Share 5,000 CHESSPromo Period: 2022-02-07 12:00 PM (UTC) – 2022-02-14 11:59 AM (UTC)During the promotion period, users who spot-trade CHESS tokens (net purchase amount = purchase amount – sell amount > 500 CHESS) and participate in 30/60/90 days of CHESS Locked Staking are eligible to participate in the activity.500 users will be selected from all eligible participants based on the Award Selection Rules Based on Binance Chain Hash Value, to each win 10 CHESS tokens.Terms and Conditions:
- The CHESS rewards of Activity 2 will be allocated to recipients’ Binance Wallets within two weeks after the activity ends. Users can see their rewards by selecting the Account > Wallet > Distribution.
- The 10-day CHESS Locked Staking is a high-yield activity, therefore it is not included in Activity 2.
- Binance reserves the right to disqualify any participants showing signs of fraudulent behavior immediately.
- Binance reserves the right to cancel or amend the Activity or Activity Rules at our sole discretion.
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