Self-custody wallet within the cryptocurrency exchange application Binance, Binance Web3 wallet introduced two new revenue models: “Yield Plus” and “Simple Yield.” These features aim to offer users additional avenues to explore decentralized finance (DeFi) opportunities directly within the Earn section of the wallet.
Yield Plus is a new feature that highlights projects with potential airdrops or additional yield opportunities, providing users with access to projects that offer various levels of rewards. Initial participating projects include Eigenpie, Kamino Finance, Lista Dao, Marinade, Ondo Finance, Renzo, StakeStone, and SolBlaze.
In Simple Yield, users have the opportunity to earn an annual percentage rate (APR) on stablecoins and other tokens by supplying liquidity to lending protocols. Depending on the chosen protocol, users may receive both supply APR and distribution APR.
Launched in November last year, the Binance Web3 wallet acts as an intermediary between the Binance exchange and Web3, enabling user engagement with a range of blockchains, earning yield, trading tokens, and exploring decentralized applications (dApps). The wallet prioritizes security, employing multi-party computation (MPC) technology.
Introducing new ways to earn with #Binance Web3 Wallet!Explore 'Yield Plus', which guides you in maximizing your APR in DeFi, or take advantage of 'Simple Yield' for easy interest earnings. Get started
— Binance Web3 | NFT | Inscriptions (@Web3WithBinance) May 20, 2024
Binance Web3 Wallet Enhances Features For Seamless Web3 Interaction
Since its inception, the wallet has consistently improved its features to facilitate easier user interaction with the Web3 environment. In January, it integrated numerous integrations and enhanced exchange functionalities, allowing users to directly exchange cryptocurrencies within the wallet interface. Now, it supports 29 decentralized exchanges (DEX) and 15 cross-chain bridges. Additionally, the wallet added support for opBNB and Linea networks in addition to the already integrated Bitcoin, Bitcoin Cash, Litecoin, Dogecoin, and Sei. It has also incorporated 19 new dApps, including 1inch, Alpaca, BinaryX, BiSwap, Compound, Convex, Curve, CyberConnect, Dodo, and Frax Finance.
In February, the Binance Web3 wallet introduced the Inscriptions Marketplace and added support for ERC-404 tokens. Furthermore, it has expanded its network support to include Manta, ZetaChain, ZKFair, Metis, and Scroll.
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