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Home NEWS NEWS BITCOIN Binance officially launched staking service for ETH 2.0

Binance officially launched staking service for ETH 2.0

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Binance officially launched staking service for ETH 2.0

Recently, cryptocurrency exchanges Binance claims to have implemented staking services for ETH 2.0.

In a blog post, Binance said the provision of the service staking went live today December 2 at 12 a.m., with daily rewards distributed in the form of BETH tokens.

More specifically, users who participate in staking ETH 2.0 will receive a BETH token at the rate of 1 ETH = 1 BETH. In addition, the ETH 2.0 staking reward will be distributed daily as a BETH token.

BETH is a tokenized version of the ETH amount that users have staking into ETH 2.0 at a ratio of 1: 1. BETH will allow users to exchange ETH at a 1: 1 ratio when Phase 1 (Phase 0) of ETH 2.0 is deployed.

Like Binance, exchange Coinbase has also outlined their own plans to support ETh 2.0, including a staking service.

The Ethereum development team started the first phase of the rollout to ETH 2.0, and on December 1 the team deployed the beacon chain - acting as a kind of data backbone for the original network. of the ETH 2.0.

In addition, Binance also said that it will offer a "double reward" program from December 2 to December 12 for those who participate in KYC.

“Users who have completed KYC before the end of the activity will receive an additional amount of BETH staking rewards in the form of BNB at the average BNB / ETH rate equal to the amount of BETH rewards users received during the period. uptime, which is doubling the amount of rewards each eligible user can receive, ”said Binance.


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