Binance to distribute KMD rewards after staking

Posted 23 July, 2019

On July 23, the Binance Cryptocurrency Exchange discovered $300,000 Komodo tokens on their wallets. The coins were earned on stacking, the company officially added this feature and promised to distribute 250,000 KMD among customers who will participate in the first round.

 The users of the platform who hold KMD will be able to take part in the daily balance fixing procedure beginning from July 24. According to the released information, the first distribution of awards and bonuses will be made on September 1, and then it will be carried out within the first 5 days of each month.

The announcement about the Komodo stacking is related to the fact that the platform discovered a surplus of 250,000 KMD worth about $300,000 on its wallets, which are either earned by it and not previously transferred to the cryptocurrency holders. The company decided to distribute these awards as a bonus for participation in the first Komodo stacking round.

The KMD rate against the background of this news rose by 4.5%.

Last week, Binance announced the addition of the Stellar stacking function and announced the distribution of tokens for $800,000. During the first distribution of the awards, users were promised a bonus equivalent to the stacking result for 10-12 months.

Currently, Binance users have access to the possibility of stacking NEO (GAS), Ontology (ONG), VeChain (VTHO), Tron (BTT) and Stellar (XLM).

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