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Kava staking support introduction on Binance with a 30,000 KAVA initial staking reward airdrop

By Inkarias - 2019-12-18

The well-known exchange Binance will be adding support for Kava (KAVA) staking, starting from tomorrow. Binance will distribute KAVA staking rewards during a monthly event and starting from December 18,2019 Binance will begin taking hourly snapshots of user KAVA balances at 00:00 AM UTC. Then the distribution will be calculated proportionally to the weight brought to the network. However, in order to be able to participate in this event for staking rewards, users must hold at least 1 KAVA. The exact formula to anticipate the rewards is written below:
  1. KAVA generated by each user = Total KAVA staking rewards received by Binance * User KAVA holdings ratio.
  2. User KAVA holdings ratio = User KAVA holdings / Total KAVA staked by Binance.

The initial distribution of KAVA staking rewards will be calculated until 2020/01/31, with the total amount distributed equally to the staking rewards accrued on holdings during the defined period. KAVA rewards are calculated daily (from hourly snapshots) and distributed monthly in one batch. All the distributions will be completed before the 20th of each month.

30,000 KAVA (estimated at around $31,000 USD) Initial Staking Reward Airdrop

Binance has received 30,000 KAVA in initial staking rewards from operating a validator on the Kava network, and has thus decided to distribute these staking rewards to the users along with the first three disbursements of the Kava Staking Airdrop Program (10,000 KAVA each for the first three months). The amount received will be calculated proportionally from the same daily snapshots for the Staking Airdrop. More importantly, to participate in this new airdrop, the same rules as staking apply.

More details on the listing and the airdrop at https://www.binance.com/ or https://www.kava.io/