Binance Launches Validator on Basechain and Offers User Rewards Just for Holding LOOM

This article was first published on Loom Network - Medium
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Binance Launches Validator on Basechain and Offers Monthly User Rewards Just for Holding LOOM

TL;DR: Binance — the largest cryptocurrency exchange in the world — has launched their validator on Loom Network’s Basechain to help secure the DPoS network alongside 21+ other validators currently running nodes. What’s more, you will be able to earn monthly rewards directly to your Binance account just by holding LOOM tokens on their exchange. How cool is that?! 🤘

A lot has happened this year, and it’s been pretty awesome working with the Binance team. The folks there are some of the greatest people we’ve worked with, and they continue to do amazing things in the space.

Today, we announce that the largest crypto exchange in the world is supporting Loom Network with validator services and offering a Staking Airdrop Program for LOOM holders.

Binance joins our pool of 21+ Basechain validators currently running nodes to help secure the network. As you may already know, validators help secure Loom Network’s DPoS mainnet — Basechain — by making sure that every transaction on the chain is valid and accurate. You can read more about validator economics here.

Earn Monthly Rewards in Binance’s LOOM Staking Airdrop Program

Starting January 4 at 00:00 UTC, Binance will begin taking live snapshots of user LOOM balances and airdropping LOOM rewards directly into your Binance account. It’s different from soft staking in that you don’t have to actively stake any of your LOOM tokens — all you need to do is have LOOM sitting in your account.

Boo-ya!

To get all the program details, please see the…

Official LOOM Staking Airdrop Program Announcement from Binance.

Remember, taking advantage of these rewards means you don’t have to “lock” your tokens away. You can simply get LOOM rewards directly to your account while maintaining the freedom to use your tokens whenever you need to.

When you hear that Binance is ...

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