BitMax Officially Becomes The First Exchange To Join LTO Staking

Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.
  • The leading exchange BitMax recently becomes the first exchange to join LTO staking. The LTO staking services started on June 12, 2020, at 10:00 EDT.
  • However, the LTO Network shared this news of Twitter stating with the help of BitMax, more users can join staking and become part of the mainnet.
  • Besides this, for participating in LTO staking, anyone can establish a node and become a verifier by collateralizing LTO.

The leading exchange BitMax recently becomes the first cryptocurrency exchange to join LTO staking. The LTO staking services started on June 12, 2020, at 10:00 EDT. The users participating in this campaign will be rewarded every day.

LTO is a strategic partner of BitMax

However, the LTO Network shared this news of Twitter stating with the help of BitMax, more users can join staking and become part of the mainnet.

In early 2019, LTO was initially launched online on BitMax and had a price upsurge of 20 times. LTO has continued to receive support from the exchange and is a strategic partner of BitMax. Currently,  LTO is one of the few staking mechanisms that does not have a pledge release and lock-up period.

Moreover, per reports, LTO will soon release a token economic model in late June 2020. It will be the biggest upgrade since the launch of the LTO mainnet.

Besides this, for participating in LTO staking, anyone can establish a node and become a verifier by collateralizing LTO. To help the network to decentralize and protect the security and meanwhile, get blockchain rewards.

Rewards On Tasks

Further, the exchange shared on its website about the event schedule. It will run from June 12th, 2020 at 10:00 a.m. EDT until June 22, 2020, at 10:00 EDT.

In the course of the event, three tasks will be assigned to the participants. Firstly, the Net Deposit of LTO (Deposit – Withdrawal) must be greater than equal to 4,000 LTO. Secondly, the Average LTO Staking Quantity must be greater than equal to 4,000 LTO.

The third task pertains to Transfer staked LTO to margin account as collateral or Buy/sell on margin AND reach Trading Volume more than or equal to 1,000 USDT.

The participant who completes two of the following three tasks will get an equal share of 100,000 LTO as a reward. Whereas, if all the three tasks are completed, the user will receive a reward of 200,000 LTO.

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