Binance Introduces Soft Staking for Flexible Token Rewards

According to the announcement from Binance, the platform has launched Binance Soft Staking, a new feature enabling users to earn staking rewards on selected tokens directly from their Spot Accounts. This innovative product offers users the flexibility to trade, withdraw, or utilize their tokens at any time while still earning rewards. The staking rewards are generated through the on-chain proof of stake mechanism and are credited daily in the respective native tokens to users' Spot Accounts. The rewards are calculated based on the daily average balance of eligible tokens held in the Spot Accounts. 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 holding requirements for each token, and there is a cap on the eligible holding amount. Balances exceeding this cap will not earn additional rewards. The benefits of Binance Soft Staking include full flexibility with no redemption process or lockup periods, allowing users to access and use their assets anytime without restrictions. Daily rewards are directly credited to the Spot Account, enhancing the ease of earning. 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, users can start earning rewards. However, U.S. persons, entities, and individuals from sanctioned countries are restricted from using this service due to regulatory limitations. Binance advises users to review the Soft Staking Terms, Binance Terms of Use, and the Risk Warning before participating. The platform reserves the right to amend or cancel the announcement at any time without prior notice. Users are reminded that digital asset prices can be volatile, and they are responsible for their investment decisions.