Binance will Launch TomoChain (TOMO) Staking
On April 17, 2020, Binance announced they will be supporting staking for TomoChain (TOMO) starting April 18th, 2020 at 00:00 AM UTC.
Earning staking rewards on Binance does not require any action from crypto owners. The rewards will automatically be distributed to those users that own TomoChain.
How are the TomoChain rewards determined?
To qualify for rewards, users must hold 5 TOMO.
TOMO staking rewards will be distributed based on the total TOMO staking rewards received by Binance multiplied by the user’s TOMO holdings ratio.
Rewards are calculated daily but distributed monthly before the 20th of each month.
What is staking?
Staking is defined by Binance as the process of holding funds in a crypto wallet in a way that supports the operations of a blockchain network. By supporting the network, users are rewarded on a regular basis.
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