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Exclusive Exchange Opportunity! Binance First to Launch ETH 2.0 Staking Feature, Earn BETH by Year-End

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Exclusive Exchange Opportunity! Binance First to Launch ETH 2.0 Staking Feature, Earn BETH by Year-End

Ethereum 2.0 Phase 0 has successfully launched, with one of the world's largest exchanges, Coinbase, announcing on December 1st that it will support Ethereum 2.0 staking. They have introduced corresponding staking certificate tokens called "ETH2," allowing stakers to freely trade during the long and indefinite staking period for more options. Another world-class exchange, Binance, on December 1st, directly opened up staking for users to stake ETH and will issue staking certificate tokens called "BETH" by the end of the year.

In simple terms, users are not trapped by the lengthy staking period, as exchanges have separately opened a staking certificate trading market.

Binance's BETH Rules

Starting from 8:00 PM on December 1st, users can lock their ETH in Binance, and once locked, it cannot be redeemed. Until December 31st of this year, "BETH" corresponding to the locked amount and rewards will be distributed to users.

Points to note:

  • The official trading opening time has not been confirmed
  • Due to the staking lock-up period depending on the development progress of Ethereum 2.0, which is currently estimated to be two years, BETH can only be redeemed after that time
  • You will be charged: "Binance Staking ETH 2.0 agent users participate in ETH lock-up to earn profits. After deducting 10% node fees (server costs) from on-chain profits, the remaining amount is distributed to lock-up users. The profit rate is 90% of the on-chain staking profit." Binance has also introduced a double rewards promotion in the first two weeks, in addition to BETH staking rewards, an equivalent amount of BNB is also given

Speculation: CeFi Derivative Opportunities

As "collateralized digital assets" have many lending applications in DeFi, Binance's smart contract chain BSC may likely expand its ecosystem applications through this. Binance's BETH token is essentially endorsed by the exchange itself. If it can provide DeFi products such as lending and wealth management through BSC, it may open up another market and attract Ethereum users.