This is a general announcement. Products and services mentioned here may not be available in your region.
Dear members of the Binance community!
As part of its ongoing efforts to build the Binance ETH and WBETH onchain staking ecosystem, Binance ETH Staking is pleased to announce that users who hold BETH in non-custodial wallets can now directly convert their BETH holdings to WBETH at a 1:1 ratio on the BNB Smart Chain ( BSC).
How to convert BETH to WBETH onchain:
Send BETH tokens from your non-custodial wallet to the BSC smart contract address: 0x250632378E573c6Be1AC2f97Fcdf00515d0Aa91B
After receiving the BETH tokens, the BSC smart contract will instantly transfer the WBETH tokens to the non-custodial wallet at a 1:1 ratio.
Notes:
The on-chain conversion function is only available on BNB Smart Chain (BSC). In order to successfully convert BETH to WBETH onchain, users must transfer their BETH tokens to the aforementioned BSC smart contract address from a non-custodial wallet compatible with BNB Smart Chain.
Please note that the BETH to WBETH conversion function on BNB Smart Chain only works one way. To convert WBETH tokens to ETH, users can either do a DeFi token swap or redeem their ETH tokens from ETH staking after depositing WBETH tokens on Binance and deploying their WBETH tokens to BETH on the WBETH page. See this ad for more information.
Users holding WBETH can participate in DeFi projects outside of Binance while retaining the right to receive the corresponding accumulated ETH staking rewards. For each WBETH token, ETH staking rewards will accrue daily according to the daily ETH staking APR.
In the event of a discrepancy between the translated version and the original English version, the English version shall prevail.
Guides and related materials:
What is WBETH?
Binance adds Wrapped Beacon ETH (WBETH) to ETH staking service
What is ETH staking on Binance?
Thank you for your support!
Binance command
19.06.2023
Trade cryptocurrency on the go with the Binance mobile trading app (iOS/Android)
Find us at
Telegram
Twitter
Facebook
Instagram
Binance reserves the right, at its sole discretion, to amend or withdraw this announcement at any time and for any reason without prior notice.
Risk Warning: Digital asset prices may be subject to high market risk and price volatility. The value of your investment may fall as well as rise, and you may not get back the amount you invested. You are solely responsible for your investment decisions and Binance is not responsible for any losses you may incur. Past performance is not a reliable indicator of future performance. You should only invest in products that you are familiar with and understand the risks involved. You should consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial advisor before making any investment. This material should not be considered as financial advice. For more information, please see the Terms of Use and Risk Warning.
