Leading cryptocurrency exchange Binance has announced the launch of BNB staking on its Binance Chain Testnet via a “Stake Wars” competition.
According to an update , the exchange is preparing to launch staking compatibility for its native token binance coin. Users can participate in a “Stake Wars” competition by staking BNB on the Binance Chain Testnet in order to receive prizes and other incentives.
Binance will distribute up to 3000 BNB in prize money to the top 10 validators on the Binance Chain Testnet during the period of August 17 to August 27. The post claims validators of the testnet will be responsible for validating transactions and sealing blocks as well as testing the architecture and cross-chain communication of Binance Smart Chain (BSC).
The competition will rely upon a 24-hour faucet on the BSC testnet that will be made available for users who share a tweet on the “Stake Wars” launch date. Binance also intends to deploy a daily airdrop of BTCB or BNB to BSC accounts that can be sent to the testnet and Binance DEX for more testnet BNB trading.
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