Binance Exchange Joins …

Binance joins Ethereum 2.0 staking

Cryptocurrency exchange Binance today announced that starting December 2, its clients will be able to participate in Ethereum 2.0 staking. Ethereum 2.0 Phase Zero Started This Tuesday.

Service users will be issued BETH tokens, where 1 ETH = 1 BETH. Staking rewards will also be distributed at BETH on a daily basis. The exchange warns that staking assets will be frozen for about two years.

“BETH will tokenize the user’s share in the ETH 2.0 pool at a 1: 1 ratio. BETH will allow users to receive ETH at a 1: 1 ratio when Phase 1 of ETH 2.0 is launched,” the exchange writes..

Binance, for its part, promises to cover validation costs for users, take on the risks of penalties, and distribute all rewards earned..

Earlier, a similar service was announced by the Coinbase exchange, but in its case, users will also be able to trade new tokens. Binance does not open BETH trading yet, but admits such an opportunity.

Binance Exchange Joins ...

“In the future, if BETH becomes available for trading, users will be able to freely exchange assets between ETH and BETH. The exchange rate will be determined by the market, and the spread that may arise due to the transition will be assigned to the user, ”the exchange explains..

For two weeks, verified users will receive additional rewards in their own BNB token, the volume of which will correspond to the amount earned on BETH staking according to the exchange rate of the BNB / ETH pair. In other words, at the first stage, users will receive double rewards.

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