Binance announces INJ Staking with Up to 33.12% APY – World largest cryptocurrency exchange Binance have announced a new high-yield farming for Injective Protocol (INJ), users can now Stake their INJ starting from July 15 12:00 PM (UTC) to earn up to 33.12% APY.
The Injective Chain is a fully-decentralized sidechain relayer network which serves as a layer- 2 derivatives platform, trade execution coordinator (TEC), and decentralized orderbook.The core consensus is Tendermint- based.
According to Binance announcement, the farming will follow a Locked Staking Format with a First-come, first-served basis; tnterest Calculation Period begins at 0:00 AM (UTC) on the day after Locked Staking is confirmed to the end of the corresponding product period and Interest Payout Time is On a daily basis.
Offered Products ( Locked Staking)
| Digital Assets | Duration | Max. Locked Staking Limit Per User | Standard Annualized Interest Rate | Min. Locked Staking Limit |
| INJ | 15 days | 50 INJ | 33.12% | 1 INJ |
| INJ | 30 days | 5,000 INJ | 3.67% | 1 INJ |
| INJ | 60 days | 2,000 INJ | 4.12% | 1 INJ |
| INJ | 90 days | 500 INJ | 5.62% | 1 INJ |
Things to note:
- Users can view their Locked Staking assets by going to Wallets > Earn > Locked Staking > Locked.
- The APY is adjusted daily based on the on-chain staking rewards and the specific APY is subject to the page display on the day.
- Unlock period for Locked Staking products: 1 day.
- Locked Staking FAQ.
- About early redemption: Users can choose to redeem in advance. After choosing early redemption, the principal will be returned to the spot account, and the distributed interest will be deducted from the refunded principal. Due to different global time zones, it takes 48-72 hours to receive the tokens.