11 seconds ago | 1 min read
Ethereum News- The WBETH service will be active on April 27.
- Regarding their staked ETH, the token offers additional flexibility.
Binance has launched a new token called Wrapped Beacon ETH (WBETH). This allows users with additional choices when it comes to using staked ETH in DeFi protocols. Users will be allowed to take part in DeFi initiatives outside of Binance with WBETH while still being able to collect the associated ETH Staking advantages.
Users will be permitted to wrap their BETH tokens into WBETH and unwrap their WBETH tokens into BETH tokens on the ETH Staking page at no cost as of 2023-04-27 08:00 (UTC). Following the launch date, 1 WBETH will be equal to 1 BETH when staking ETH, and the BETH token will get all staking incentives.
Individuals have the opportunity to get rewards from the exchange by staking their Ethereum (ETH) on Binance. Users can maintain BETH in their spot wallets to receive daily staking rewards. And use WBETH to participate in DeFi projects due to this new update.
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Source: https://thenewscrypto.com/binances-new-liquid-staking-token-to-strengthen-defi-accessibility/