To support the daily updates of the BETH/WBETH conversion rate, the "Wrap” and “Unwrap” functions will be temporarily paused each day from 23:45 (UTC) till 00:15 (UTC) on the next day, starting from 23:45 (UTC).Īll updates to the daily BETH/WBETH conversion rate are dependent on the daily APR on ETH Staking. The BETH/WBETH conversion rate is dynamic, and will be updated daily at 00:00 (UTC), starting from 00:00 (UTC). Users can unwrap their WBETH tokens to redeem the corresponding on-chain staking rewards in the form of BETH, based on the daily BETH/WBETH conversion rate.ĭetails on the BETH/WBETH conversion rate: It is not necessary for users to wrap their BETH holdings to WBETH.Įach WBETH token will accrue ETH Staking rewards daily, in accordance with the daily APR on ETH Staking. Users can continue holding BETH in their Spot Wallets to receive BETH rewards on a daily basis. Step 3: Stake ETH to receive BETH in the Spot Wallet. Step 2: Navigate to the section and select. Step 1: Login to the Binance App and click. īNB Smart Chain and Ethereum Network, with more to comeįor more information, please refer to the ETH Staking Terms and Conditions, WBETH FAQ, and the WBETH Page on 08:00 (UTC). While the initial conversion rate between BETH and WBETH is 1:1 at 08:00 (UTC), this is subject to change, as the value of WBETH will increase with time, in accordance with the daily APR on ETH Staking. Starting from 08:00 (UTC), users will be able to wrap their BETH tokens to WBETH, and unwrap their WBETH to BETH tokens on the ETH Staking page at zero fees. WBETH will allow users to participate in DeFi projects outside Binance, while ensuring their eligibility to receive the corresponding ETH Staking rewards accrued. WBETH is a new liquid staking token, where 1 WBETH represents 1 BETH and the total staking rewards accrued by the BETH token on ETH Staking after 08:00 (UTC). Products and services referred to here may not be available in your region.īinance is rebranding ETH 2.0 Staking to ETH Staking, and introducing Wrapped Beacon ETH (WBETH) on the ETH Staking service, effective from 08:00 (UTC).
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