Binance Earn Introduces On-Chain Yields, Inviting Users To Try Babylon BTC Staking
In Brief
Binance introduces On-chain Yields, allowing users to participate in various on-chain protocols and earn rewards directly through their accounts.
Cryptocurrency exchange Binance has introduced a new feature called On-chain Yields, enabling users to effortlessly engage with various on-chain protocols and earn rewards directly through their Binance accounts.
The initial offering is Babylon BTC Staking, where users can stake their BTC and earn on-chain rewards derived from the Babylon Protocol. The subscription period will open at 06:00 UTC on December 9th, with a limited quota of 1,000 BTC available on a first-come, first-served basis. Each account can subscribe for a minimum of 0.05 BTC and a maximum of 5 BTC.
The On-chain Yields page will be accessible starting at 04:00 UTC on December 9th. This new feature allows users to participate in on-chain protocols through Binance and earn rewards in tokens, points, and other forms. Binance handles the integration and operation of the on-chain protocols, simplifying the process for users who wish to earn rewards without needing complex setups. Additionally, users can redeem their subscriptions at any time, benefiting from a faster redemption process compared to staking directly on-chain.
In order to begin staking with Babylon on On-chain Yields, users are encouraged to click on [Earn] in the top navigation menu on the platform’s website, then navigate to [High Yield] and [On-chain Yields], click [Subscribe], and confirm their stake amount and estimated rewards. On the mobile application, users should tap [More] on the homepage, go to [Earn] and [On-chain Yields], select their preferred portfolio, and tap [Subscribe] to get started.
What Is Binance Babylon BTC Staking?
Binance Babylon BTC Staking is the first on-chain staking offering available through Binance On-chain Yields, with returns generated from the Babylon Protocol. Binance simplifies the process by enabling users to stake their BTC into the Babylon Protocol, allowing them to earn rewards provided by Babylon.
Babylon is a Bitcoin staking protocol that allows BTC holders to stake their Bitcoin and receive rewards from the protocol. Participants in Babylon BTC Staking earn Babylon Points, which are non-transferable, non-redeemable, and do not hold any monetary value or represent any form of property.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
