Binance Exchange Distributes Monthly NEO GAS For All Crypto Holders
Binance claims to be the world's first exchange to democratize NEO GAS distribution. They say it works by holding NEO on Binance and you will receive your monthly GAS distribution via the exchange directly.
— Binance (@binance) June 2, 2018
How Binance Distributes GAS to NEO Holders
There are 3 main principles to understand when knowing how GAS gets sent to all NEO holders using their Binance account.
- Statistical Method
- Distribution Time
- Demonstration of the Rule
For the statistical method, GAS = total distribution number of GAS * NEO holder position ratio (with 8 digits after the decimal point) and NEO holders position ratio = sum of daily position number for NEO holders/ sum of daily position number for all NEO users. The position number per day is based on the NEO snapshot.
For the distribution time, it will happen the 2nd of every month at 12am.
For the demonstration of the rule, User A is in the scope of statistics, and A hold NEO for three days which have 30, 300 and 60 respectively. Therefore, the sum of daily NEO position is 390.
Assume that the total distribution number of GAS is 1000 in this month, and sum of daily position number for all NEO users is 600000;
Thus, the actual distribution number of user A = 1000*390/600000=0.65
Users can also go to NeoToGas.io website which will help calculate the GAS/USD earnings from your NEO holdings.
That about does it for this one!