Binance.US has now added the staking feature for TRON (TRX) which allows their users to earn up to 6.1% APY at launch.
Attention @trondao community!#TRON is officially live for staking on #BinanceUS!
Stake your $TRX on the LARGEST on-chain #staking platform in the U.S today.https://t.co/QJqSQtkFa1 pic.twitter.com/uTa9o48o0P
— Binance.US 🇺🇸 (@BinanceUS) October 26, 2022
TRX staking on Binance.US would have a maximum staking limit of 700,000 TRX and there would be no unstaking period, which means users can opt-out anytime to access their funds instantly.
Asides from staking TRX, the digital asset platform also offers buying, selling, and conversion.
Earlier this month, the TRON-based USDC was added to the trading platform on Binance.US.
What is Binance.US?
Binance.US was founded in 2019 and it is currently managed by BAM Trading Services which has licenses from the original Binance exchange platform. The US-based Binance was created to comply with the regulations within the United States and create a separate exchange for US customers.
Binance is the largest cryptocurrency exchange in the world and it was founded by Changpeng Zhao, also known as CZ who is a trading software developer and he had been leading the exchange since July 2017.
They also have their very own Binance Coin (BNB) which is their native crypto coin that powers the Binance ecosystem that can be used to pay for goods and services, settle transaction fees on Binance Smart Chain, participate in exclusive token sales, and more.
Binance owns Binance.US’s name and intellectual property.
What is TRON?
TRON is a blockchain-based decentralized platform founded by the former TRON CEO, Justin Sun in 2017 and it aims to create a free, global digital content entertainment system with distributed storage technology that allows easy and cost-effective sharing of digital content.
#Dominica announced #TRON as the official protocol for its national blockchain infrastructure. 🔥 #TronStrong💎
This is the first time a major blockchain has entered into an agreement of this kind. 🚀
Read the official government announcement below ⬇️https://t.co/gqc0fvBLJZ pic.twitter.com/2ISdk051x0
— TRON DAO (@trondao) October 12, 2022
It has a native cryptocurrency called Tronix or TRX and the company is dedicated to building the infrastructure for a truly decentralized internet which they have added blockchain support to different fields such as DeFi, NFT, and GameFi.
TRON has been recently granted statutory status as an authorized digital currency and medium of exchange in the Commonwealth of Dominica alongside other TRC20-based tokens.
For more news and updates, see Tron Spark.