Binance has announced that crypto enthusiasts can now stake Binance Coin (BNB) on Binance Chain Testnet
Earlier today, crypto exchange Binance announced that users were able to stake Binance Coin (BNB) on the testnet Binance Chain.
— CZ Binance (@cz_binance) August 12, 2020
Binance officially opened stake Binance Coin on the testnet Binance Chain
First, the user will stake through the testnet BNB. Subsequent assets will be opened further on the day of the operation, and each user will receive 100 BNB testnet if re-sharing a tweet that will be revealed on that day.
The Binance team further explains the process as follows:
“A faucet will be deployed for the BSC testnet. To get testnet BNB from the faucet users can share a tweet (which will be available on the activity launch date) and upon completion, receive 100 testnet BNB. Each Twitter account can only claim Testnet BNB via sharing once every 24 hours.”
Besides, there will be a daily BNB testnet airdrop for accounts that have successfully verified Testnet BNB via Faucet.
The information from Binance states:
“At 6:00 AM (UTC) each day of the activity period, Binance will airdrop testnet BTCB or BNB on Binance Smart Chain to accounts that successfully claimed testnet BNB via the Faucet. Users will be able to send their testnet BTCB to Binance DEX to trade for more testnet BNB. The amount of airdrop will be random at the Organizers’ discretion.”
When Binance opened staking on the testnet version of Binance Chain, BNB investors and traders were quite optimistic that staking would have a positive effect on BNB price. One can compare the staking BNB with the Ethereum staking prediction on ETH2.0. That is, those looking to earn Binance Coin (BNB) will continue to be strong, and others will continue to accumulate BNB.
At press time, the BNB price had not grown particularly special when it was only trading around $ 21.92, a slight drop in value over the past 24 hours.
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