According to an announcement from Binance, the platform has launched Binance Soft Staking, a new feature that allows users to earn staking rewards on certain tokens directly from their Spot Account. This innovative product offers users the flexibility to trade, withdraw, or leverage their tokens at any time while still earning rewards. Staking rewards are generated through an on-chain proof of stake mechanism and are credited daily in the corresponding native tokens to the user's Spot Account. Rewards are calculated based on the daily average balance of eligible tokens held in the Spot Account.
Currently, Binance Soft Staking supports tokens such as BNB, SOL, ADA, SUI, TON, NEAR, POL, ALGO, S, and AXS. To qualify for rewards, users must meet the minimum ownership requirements for each token, and there are limits on the amount of eligible holdings. Balances exceeding this limit will not earn additional rewards. The benefits of Binance Soft Staking include full flexibility without redemption processes or lock-up periods, allowing users to access and use their assets at any time without restrictions. Daily rewards are directly credited to the Spot Account, enhancing the ease of earning rewards.
To activate Binance Soft Staking, users can navigate to the 'Earn' section on the website or app, select 'Simple Earn,' and click 'Soft Staking.' After agreeing to the terms and conditions, users can start earning rewards. However, individuals, entities, and individuals from countries subject to sanctions in the US are prohibited from using this service due to regulatory restrictions. Binance advises users to review the Soft Staking Terms, Binance Terms of Use, and Risk Warnings before participating. The platform reserves the right to change or cancel the announcement at any time without prior notice. Users are reminded that the prices of digital assets may fluctuate, and they are responsible for their investment decisions.