Cryptocurrency exchange Binance has announced the addition of high yield staking support for Terra Virtua (TVK). The project offers an annualized rate of return of up to 47.67%.
Staking TVK on Binance
The popular cryptocurrency exchange Binance has officially announced launch from May 6 highly profitable staking of the Terra Virtua (TVK) coin. Participants interested in this offer will be admitted on a first-come, first-served basis. Interest will be paid on a daily basis based on calculations based on the length of the staking period.
Enjoy $ TVK staking with @binance with up to 47% APY! — going live at 12pm UTC today! Learn more here!#NFT #NFTs #Staking #Crypto https://t.co/U990tMDcs4 pic.twitter.com/N2fIPmEmcS
– Terra Virtua $ TVK | Collecting. Reinvented. (@terra_virtua) May 6, 2021
In its announcement, Binance also clarified in as much detail the underlying principles of the proposed staking format and the APY rate options that users can expect.
As you can see from the table provided by the Binance team, customers are offered a range of TVK staking options with varying durations and annualized rates of return reaching 47.67%. In some cases, users even get the right to withdraw their investments ahead of schedule. In this case, the exchange will return the blocked assets to the client’s account after recalculation of interest.
Terra Virtua is a project designed to create a cross-platform NFT ecosystem for a wide range of investors and NFT token enthusiasts in the arts and entertainment segments. At the time of this writing, the TVK rate was trading around $ 0.51.
What is staking
Recently, staking has attracted increased attention from investors as a viable and much less costly alternative to cryptocurrency mining. In this comparative context, staking is also referred to as “liquidity mining”.
Unlike traditional cryptocurrency mining, this way of making money does not require any efforts from the staker, as well as expensive and energy-consuming mining equipment.
All that is required of him is to block a certain amount of his cryptocurrency assets in a particular protocol for some time. The frozen funds will help the project provide liquidity and maintain the security of this blockchain. Accordingly, the user will receive a reward for his help.
As a rule, stakers just need to allocate the required amount directly from their cryptocurrency wallet. However, recently, a number of exchanges, including Binance, have begun offering customers special staking services.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
