Key highlights:
- Binance’s new Simple Earn program for LUMIA holders will allow staking rewards of up to 19.9% APR.
- Staking durations range from 30 to 90 days, with APRs from 6.9% to 19.9%.
- LUMIA token supports governance and real-world asset tokenization in decentralized finance (DeFi).
Binance launches staking program for LUMIA tokens
Lumia has announced that Binance, one of the best crypto exchanges, will roll out a Simple Earn campaign for LUMIA token holders, beginning October 24, 2024. The program allows users to earn rewards by staking LUMIA tokens on the exchange, offering a potential annual percentage rate (APR) of up to 19.9%. This campaign will run until March 21, 2025.
The APR varies depending on the staking period, starting at 6.9% for a 30-day commitment, 12.9% for 60 days, and 19.9% for those staking at least 90 consecutive days. Participants can stake anywhere between 0.1 and 25,000 LUMIA tokens.
Binance’s Earn programs provide opportunities for crypto holders to grow their assets by staking them. This specific program for LUMIA will boost awareness of the token’s features, including its role in governance and enabling the tokenization of real-world assets (RWAs) across decentralized finance ecosystems.
Why Binance is supporting LUMIA
Binance’s decision to support LUMIA through both its Token Swap Event (TSE) and now this staking campaign highlights the token’s growing significance in the DeFi space. One of the major reasons behind this partnership is LUMIA’s governance capabilities and rewards structure, which empowers token holders to participate in decision-making processes on the platform. Additionally, LUMIA’s hyper-liquidity layer offers the ability to tokenize and trade RWAs, such as real estate and commodities, across decentralized platforms.
The ability to bridge traditional and digital assets provides LUMIA with unique utility in the DeFi sector. Mehmet, a Core Contributor at Lumia, stated:
The Binance Simple Earn program will give existing LUMIA holders an opportunity to earn yield on their assets while incentivizing new users to explore the features and benefits of Lumia’s RWA chain. In the process, it will raise awareness of the use cases being engineered for Lumia and its ability to deliver deep liquidity procured from a range of centralized and decentralized sources.
Following Binance’s official support for LUMIA’s token swap event earlier in the year, the exchange’s new Earn program provides another incentive for users to engage with the token, reflecting the growing interest in tokenized RWAs within the blockchain ecosystem.
The bottom line
Binance’s Simple Earn campaign for LUMIA holders represents a significant step forward for the token and its users. By offering flexible staking rewards and supporting the token’s real-world asset integration, the campaign brings additional liquidity and visibility to LUMIA, enhancing its position in the decentralized finance landscape.
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Source: https://coincodex.com/article/50499/binance-rewards-lumia-holders/