Biswap

<p>Recently, liquid staking was integrated into Biswap as a Binance Earn solution. The new feature functionality is based on the idea of unlocked liquidity and entails the usage of liquid staking derivative tokens. It&#39;s all about the holistic concept that emerges from the Etherium 2.0 transition.</p><p>This article will discuss the background of liquid staking, the roles of BETH and WBETH, and their utilities for users.</p><h2 id="header-0"><strong>Preconditions | Ethereum 2.0 Merge</strong></h2><p>Initially, Ethereum launched with a proof-of-work (PoW) consensus algorithm in 2015, but the vision has always been for Ethereum to become an energy-efficient proof-of-stake (PoS) network. After years of intense development, the focus shifted to Ethereum 2.0 with a Proof of Stake mechanism. Read more about the difference between PoS and PoW consensus mechanisms: <a href="https://bit.ly/3Qbecaf" rel="noopener noreferrer nofollow">https://bit.ly/3Qbecaf</a>.</p><p>The solution was in the beacon chain - a fully independent network with a PoS consensus layer. It operates parallel to the Ethereum 0.1 mainnet, where the consensus layer remains PoW. In 2023, the merge was completed and joined the original execution layer of Ethereum with its new proof-of-stake consensus layer, the Beacon Chain.</p><p>This transition eliminated the need for energy-consuming mining and enabled the network to be secured using staked ETH. Ethereum 2.0 is an upgrade that improves the scalability, security, and sustainability of the Ethereum network.</p><h2 id="header-1"><strong>BETH &amp; WBETH token | Binance Solution</strong></h2><p>Due to the complexity of the Ethereum upgrades, this was rolled out in several phases. The first - is Beacon Chain launching, which is core to Ethereum 2.0 once sharding is fully implemented.</p><p>The point is that the deposit contract for the Beacon Chain works only one way. Users could deposit but couldn&#39;t withdraw until ETH 2.0 was fully launched. In addition, they were able to deposit in increments of 32 ETH. An essential part of the upgrades is the introduction of staking, allowing users to stake their ETH, support the network, and earn rewards. It was a challenge for those who didn&#39;t have 32 ETH or wanted to maintain the flexibility to withdraw.</p><p>Binance launched a flexible ETH staking pool that allows users to earn through the LSD (liquid staking derivatives).</p><h3 id="strong-ethereum-staking-beth-token-initiates-the-lsd-era-strong"><strong>Ethereum Staking: BETH Token Initiates the LSD Era</strong></h3><p>BETH - a tokenized version of staked ETH released by Binance. It means that each BETH represents 1 staked ETH on Binance. You can convert your ETH to BETH at a 1:1 ratio and start receiving staking rewards in BETH.</p><p>Users receive ETH staking rewards from the Ethereum Network in the form of BETH, based on the BETH holdings in the wallet. The ETH Staking rewards are distributed daily. The BETH token allows you to use ETH liquidity and earn staking rewards simultaneously.</p><h3 id="strong-eth-liquid-staking-wbeth-token-leads-to-earning-flexibility-strong"><strong>ETH Liquid Staking | WBETH Token Leads to Earning Flexibility</strong></h3><p>Once the Ethereum network completes the merge to Ethereum 2.0 by upgrading the consensus mechanism of ETH to Proof of Stake, liquid staking offers users the opportunity to stake their ETH and earn rewards in return through the WBETH token.</p><p>WBETH is a Wrapped Beacon ETH, a new liquid staking token, where 1 WBETH represents 1 BETH. It also represents the staking rewards accrued by BETH token on ETH Staking after the Ethereum Proof of Stake merge.</p><p>Each WBETH token you hold will accrue ETH Staking rewards from the Ethereum Network daily, based on the daily APR of the service. To redeem your ETH Staking rewards in the form of BETH, you can unwrap your WBETH tokens by ordinary swap.</p><h2 id="header-2"><strong>BETH vs. WBETH | Key Difference</strong></h2><p>BETH and WBETH tokens are launched by Binance that have many options of use and serve as liquid staling tokens. Take a look at the core points:</p><ol><li>BETH equals 1 staked ETH, while WBETH equals 1 staked BETH and staking rewards.</li><li>Binance borders limit BETH usage, while WBETH can be used over different DeFi APPs.</li><li>BNB Smart Chain supports BETH, while BNB Smart Chain and Ethereum support WBETH.</li></ol><h2 id="header-3"><strong>WBETH on Biswap | Enjoy Unlocked liquidity</strong></h2><p>Since Biswap has implemented the Binance Earn solution - liquid staking, you can enjoy all the benefits with no KYC directly on the DEX platform: &#x1f449; <a href="https://biswap.cc/3EEFIWx" rel="noopener noreferrer nofollow">https://biswap.cc/3EEFIWx.</a></p><p>WBETH/ ETH liquid staking allows users to stake their ETH, get ETH staking rewards in return, and freely use WBETH on other Dapps. The Biswap users can enjoy a wider variety of earning opportunities.</p><ul><li><a href="https://biswap.cc/44TVEPv" rel="noopener noreferrer nofollow">Trade</a> WBETH through a fast Auto Router</li><li>Make a 0% fee and no slippage <a href="https://biswap.cc/3ZiOSBv" rel="noopener noreferrer nofollow">limit order</a> with WBETH</li><li>Provide WBETH/ETH <a href="https://biswap.cc/3RnWQHI" rel="noopener noreferrer nofollow">V3 liquidit</a>y to the pool with active Farm rewards</li></ul><h2 id="header-4"><strong>Closing Words</strong></h2><p>Ethereum&#39;s transition to PoS has led to challenges and efficient solutions. Binance Earn direction presented ETH staking with flexible opportunities thanks to liquid staking tokens (LST) - WBETH and BETH. Both of them represent staked funds and are available for usage to get extra income. Therefore, the Biswap DEX has integrated liquid staking of Binance Earn to provide its users with a popular and flexible way to earn cryptocurrency while maintaining liquidity.</p>

Discover Ethereum 2.0 | LSD Tokens: BETH & WBETH

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Biswap DEX

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