Binance has introduced a way to maximize users’ income potential of their BNB holdings through incorporating auto-compounding yield optimization.
Introducing BNB Staking
The world’s biggest Bitcoin and altcoin exchange launched a BNB Vault. The BNB Vault is a new feature on Binance Earn that incorporates several benefits of the Binance Smart Chain (BSC), specifically yield optimization. In essence, BSC users will have access to Launchpool, Savings, DeFi staking, and more in just one interface. Users can now maximize their BNB holdings through compound interest in just one click.
The BNB Vault is a yield aggregator where users can stake their BNB and earn. It enables BNB holders to deposit and withdraw BNB with ease. To participate in BNB staking, users need to go to the BNB Vault Page on Binance Earn and click on Stake.
The page will display details of all benefits from BNB staking. These include:
Savings Rewards (Rewards from flexible saving).
Launchpool Rewards (Launchpool tokens gained from staking BNB).
Other Rewards. (Income from DeFi staking offerings and other benefits from BSC participation).
Binance Continues to Bridge the Gap Between CeFi and DeFi for Maximum Yield
According to Binance official blog, the purpose of launching the BNB Vault is to make everything on Binance Earn accessible, including BSC benefits. The Binance Vault is the first of its kind, given that it offers a single function for accessibility. Users can capture more earning opportunities normally available through DeFi using Binance’s seamless interface.
The most important benefit of the BNB Vault is the combination of both CeFi and DeFi. This ensures that users simultaneously gain from Binance Earn products and the mechanism of BNB staking on BSC. Also, with the DeFi ecosystem continually grows, users’ yield will increase.
How does the BNB Vault Work?
Using the illustration below, you will understand why the BNB vault has a great use-case compared to regular Binance Earn products. With BNB staking through vaults, there is an increased Annual Percent Yield (APY). Users get up to a 10x increase just by staking their holdings in the BNB vault.
BNB staking is a yield aggregation benefit incentivised by Binance, which is done by staking BNB in the BNB vault. The BNB vault unlocks the potential of creating different products around BNB in the future. With this, the crypto exchange ensures that many decentralized solutions grow through BSC.
Source : bsc.news
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