Singapore, 24 May 2024 – Riding on the momentum of rewarding the StakeStone community, StakeStone has prepared a special campaign that offers an additional 2,000,000 StakeStone token rewards to Binance Web3 wallet users in addition to the rewards from the StakeStone Omnichain Carnival and Scroll Session Zero campaigns.
Stake ETH and Hold STONE to Share a Prize Pool of 2,000,000 StakeStone Tokens
The special campaign runs from May 24, 6 AM (UTC) to May 31, 11:59 PM (UTC) or when 14,000 users have signed up for it, whichever comes first. During the campaign period, users can participate by staking a minimum of 0.15 ETH into STONE and bridging STONE to Scroll in Binance Web3 Wallet. This will grant them the eligibility to receive 20 StakeStone tokens as a reward.
In addition, participants must hold their STONE assets on Scroll in the same wallet until June 17, 11:59 PM UTC to earn additional rewards – splitting the rest of the 2,000,000 StakeStone reward pool equally. For example, if there are 14,000 users receiving 20 StakeStone tokens, the balance pool will be split 1,720,000 StakeStone tokens amongst the holders). To be eligible for this part of the rewards, users must not use their STONE in any other protocols.
Apart from these additional rewards, each eligible participant will be qualified for STONE-W1 points (for StakeStone’s Omnichain Carnival) based on the amount of STONE they hold on Scroll and the time duration. Holding STONE on Scroll is also related to Scroll Session Zero and Marks.
Steps to Participate
1. Create a Binance Web3 Wallet
*You may skip steps 1-3 if you already have a backed-up Binance Web3 Wallet. Find out more about Binance Web3 Wallet here.
Step 1: Download the Binance app and ensure it’s in the latest version. Register for a Binance account and complete identity verification.
Step 2: Tap [Wallets] and go to the [Web3] tab.
Step 3: Follow the instructions to create your Binance Web3 Wallet. Please note that you must back up your Web3 Wallet before moving on to the next step.
2. Deposit or transfer ETH to your Binance Web3 Wallet
Step 4: Before proceeding, you’ll need to have at least 0.15 ETH on the Ethereum network in your Web3 Wallet. Please note that you must have some extra ETH to cover the gas fees for bridging your ETH tokens to Scroll.
How to get ETH in my Binance Web3 Wallet?
If you don’t have any ETH in your Web3 Wallet, you can:
- Transfer funds from the Binance Exchange Wallet to the Binance Web3 Wallet using the [Transfer]
- Send ETH from an external wallet to your Binance Web3 Wallet using the [Receive]
For more details, please refer here.
3. Stake your ETH into STONE and bridge STONE to Scroll
Step 5: On your Web3 Wallet homepage, go to [Discover] – [Airdrops]. Tap [Join Now] under the StakeStone Airdrop campaign banner.
Step 6: Tap into the campaign landing page and tap [Join Now].
Step 7: You’ll be redirected to StakeStone’s website. Connect your Binance Web3 Wallet by tapping [Sign in to Continue], input an invite code if applicable, otherwise click [Skip To Continue]
Step 8: Tap [Stake & Bridge to Scroll] and select ETH. Enter the amount of ETH, for example, 1 ETH, and tap [Send]. Please note the minimum requirement for the additional campaign reward is 0.15 ETH. Then, check that the details are correct before tapping [Confirm] to sign the transaction.
The actual gas fee used might be less than the amount shown on the wallet to ensure the transaction is successful.
Step 9: Once your ETH is successfully staked as STONE, you’ll see a [Green tick] pop-up. By doing so, your ETH will be minted into STONE, and STONE will be bridged to Scroll. Your dashboard will reflect the updated STONE balance corresponding to your staked amount in a few minutes.
*Note: 1 STONE is valued at more than 1 ETH, and STONE’s value is gradually increasing due to the accumulated staking yields. For example, at the time of writing, by staking 0.15 ETH, you will receive around 0.1475 STONE, since STONE = 1.0172 ETH. In this campaign, as long as you stake more than 0.15 ETH (not 0.15 STONE), you are eligible for 20 StakeStone tokens.
Step 10: To share the additional rewards (splitting the rest of the 2,000,000 StakeStone reward pool equally), please hold your STONE on Scroll in your Binance Web3 Wallet until June 17, 11:59 PM UTC. In order to qualify for these rewards, please do NOT use your STONE in any other protocols.
By holding STONE on Scroll, you can also accumulate STONE-W1 points from StakeStone’s omnichain carnival. STONE-W1 points are gained based on the amount of STONE held on Scroll and the time duration.
In the meantime, STONE is also an asset supported by Scroll Session Zero. Users can accumulate Scroll Marks by holding STONE on Scroll in Session Zero.
How to withdraw my STONE from this campaign?
By continuously holding STONE until 17 June, 11:59 PM (UTC), you will be granted more StakeStone tokens from the Binance Web3 Wallet exclusive campaign. However, if you decide to withdraw your STONE, the steps are as follows, and you will need to pay gas fees on Scroll (in the form of ETH) to bridge STONE back to the Ethereum mainnet.
Step 1: Go to your Binance Web3 Wallet and tap [Discover] – [Airdrops] to visit the StakeStone Omnichain Carnival page. On this page, tap the menu at the upper right corner and click [Bridge].
Step 2: Switch to Scroll’s network, and select ETH Mainnet as the target chain. Enter the amount of STONE that you’d like to bridge and click [Send]. It will take a few minutes for STONE to be bridged back to Scroll.
Step 3: Tap the menu at the top right corner again and select [Stake]. Toggle to the [Unstake] tab. Switch to the Ethereum Network now from the bottom right.
Step 4: Choose either the [Request] or [Instant] withdrawal method.
- [Request]allows you to withdraw your ETH with your STONE without slippage, but it will take 3-7 days before you can claim your ETH.
- [Instant]can withdraw your STONE immediately. Please note that this method might be subject to slippage.
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About StakeStone
StakeStone is a leading liquidity infrastructure protocol that focuses on staking assets beyond the traditional consensus layer, producing yield-bearing assets, and enhancing liquidity distribution across multiple chains and protocols. With its innovative architecture and commitment to transparency and optimized yields, StakeStone is dedicated to advancing the DeFi space by supporting the minting of assets like yield-bearing ETH and STONE ETH and establishing new standards for liquid assets. StakeStone’s relentless pursuit of transparency and maximized yields drive the evolution of liquid assets, cultivating a dynamic, ever-growing omnichain liquidity distribution network.
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