Binance Accidentally Discovers Staking Rewards


Binance, one of the world largest cryptocurrency exchange in the world, has recently stumbled upon almost 10 XLM Stellar Token (XLM) which at current exchange rate is around $775,000 just laying around their wallets.


This was revealed on a blog-post on their official site stating the exchange has been unknowingly receiving dividends for validating transactions on the Stellar network since August 31, 2018.


According to Binance it has just followed certain settings on its hot and cold wallets upon the advice of Stellar without really knowing that there will be a pleasant surprise for them waiting as a result of these changes.


Elated by the incident the management of Binance has decided to include XLM staking feature in their platform and the discovered XLM will be airdropped to all users of Binance that has at least 10 XLM.


Staking is a process by which holders of digital assets that utilized the Proof-of-Stake (PoS) consensus mechanism are rewarded by simply holding and staking them, then get rewarded proportionate to the amount of PoS tokens they have relative to the whole.



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: http://cryptowarrior.tech/crypto-exchanges/binance-accidentally-discovers-staking-rewards/

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