Binance Introduces Pyth Network (PYTH) on BNSOL Super Stake with APR Boost Airdrop

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

Binance Introduces Pyth Network (PYTH) on BNSOL Super Stake with APR Boost Airdrop

Luisa Crawford Nov 28, 2024 13:16

Binance has announced the launch of Pyth Network (PYTH) on its BNSOL Super Stake platform, offering users the chance to earn PYTH APR Boost Airdrop Rewards. The initiative will run from December 2 to 16, according to an announcement from Binance on Monday.

During this period, users who hold BNSOL or stake SOL into BNSOL through their Binance accounts or Web3 Wallets will qualify for the PYTH APR Boost Airdrop Rewards. These rewards will come as an additional token airdrop on top of the base Annual Percentage Rate (APR) from Binance SOL Staking, increasing user earnings.

The PYTH APR Boost Airdrop Rewards will be up for daily claim starting on December 3 at around 05:30 (UTC). Eligible users can claim their rewards on the SOL Staking page, or they will be airdropped to users' Spot Wallets after the campaign concludes on December 17.

Users can acquire BNSOL through several methods, including 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. Notably, BNSOL represents staked SOL plus accrued rewards in a tradable form, allowing for greater flexibility compared to traditional staking methods with the ability to transfer and use BNSOL beyond the Binance platform.

It is important to note that users must complete identity verification to participate in the staking program. The PYTH APR Boost Airdrop Rewards are provided by the protocol team to stimulate promotional activities. The rewards are calculated based on daily snapshots of users' BNSOL positions, specifically the previous day's snapshot.

The BNSOL:SOL conversion ratio also changes dynamically with each Solana network epoch. Users can redeem BNSOL tokens for SOL based on this conversion rate, with a redemption period of around four days.

Participation in BNSOL Super Stake is subject to regional eligibility and regulatory limitations. Binance has the right to amend or cancel the promotion at any time.