Zilliqa (ZIL) Staking at Binance: Team anticipates enormous rush and considers measures

Zilliqa is a top 50 project and with the so-called staking investors offers the opportunity to generate a passive income by holding the cryptocurrency. After staking has been available on the KuCoin exchange since June 18, one of the largest exchanges worldwide will soon follow, and the team expects the function to be very crowded.

Staking with lock-up period to ensure interest

Savings books and other investment methods of the large banks are losing interest due to falling interest rates. That is why investors are looking for alternative methods to increase their money. Staking its cryptocurrencies is a popular option in the crypto market. People who hold certain cryptocurrencies in their wallet are rewarded with tokens for holding them. By holding the proof-of-stake based assets, they contribute to the functionality and stability of the network.

One of the cryptocurrencies that offers such rewards is the 44th largest cryptocurrency in the world, Zilliqa. In order to simplify the process for investors, crypto exchanges are now also offering the staking rewards to investors through cooperation with the crypto projects. After the function has been available on the KuCoin exchange since June 18, the famous Bitcoin exchange Binance is now also following.

As the Zilliqa team announces, a huge rush for the staking function in Binance is expected. So that the annual return of 5 - 10% is maintained, there will be an adjustment like the Zilliqa team on Telegram announces:

Given the interest shown by the community, we believe that using Binance will find overwhelming use that could potentially affect annual earnings. Because of this, and with the primary goal of maintaining delegate attractiveness (given the constraints), the stakeout mechanism of Binance is being restructured - especially to maintain an annual return of 5-10%. This restructuring could include a "lockup" period with a guaranteed tiered return (between 5-10%) based on the length of the lockup period.

In order to guarantee the interest, there will be a lock-up period. Within this set time, investors could not sell their Zilliqa cryptocurrency. The duration of the period is still unknown. The staking function on Binance is scheduled to start later this month.

Zilliqa with large price increases

Apart from the staking function, investors in the cryptocurrency can look forward to high price increases since the beginning of the year. While a ZIL coin was trading at $ 0,004 earlier this year, the cryptocurrency is trading at $ 0,017 today. Investors can look forward to more than 300% profit. For a short time, the cryptocurrency even rose to $ 0,30 USD, as the following graph shows:

worldcoinindex.com

 

But Binance also offers other ways of making passive money. With the Binance Savings platform, investors also receive a specific interest rate for holding a cryptocurrency on the exchange:

Binance Savings: earn interest now with IOTA and ONT

 

Markus from Kryptokumpel.de
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