According to a recent tweet, Binance.US announces that it has launched staking for the VeChain token (VET).
Binance.US Launches VeChain Staking
Per the tweet, Binance.US made it known that its users who stake their VET will earn 1% APY, which will be paid in VeThor (VTHO).
Furthermore, Binance.US said that the staking rewards for VET would be paid out weekly. In addition, there is no mandatory lock-up period for VET staking, as customers can unlock their staked funds whenever they choose without incurring any fee.
Binance.US noted; customers can now buy, sell, convert, or stake VET, and also buy, sell, and convert VTHO”
Facts About VeChain
It is worth noting that VeChain is currently among the leading cryptocurrency projects. Its block was created in 2018, a forked version of Ethereum. It aimed at rolling out architectural upgrades that would boost the adoption of blockchain technology with the main purpose of enhancing supply chain management and business processes.
On this premise, VeChain has made a massive breakthrough in solving real-world economic problems. Several firms have leveraged VeChain tech for different purposes.
For instance, Vechain, the top enterprise-grade layer 1 blockchain platform, has recently collaborated with a Canada-based software-as-a-service (SaaS) platform, TruTrace.
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The Canadian SaaS platform adopted the VechainThor blockchain to strengthen its protection for brands and consumers against being a victim of fake and contaminated products in the affiliated companies such as legal cannabis, food, apparel, and pharmaceutical industries.
Last month, VeChain also ventured into another partnership with UCO Network to convert used cooking oil into sustainable biofuels in Europe.