Binance Web3 Wallet Launches ‘Yield Plus’ And ‘Simple Yield’ Revenue Models To Provide Users With Additional DeFi Opportunities
In Brief
Binance Web3 wallet introduced ‘Yield Plus’ to help users in maximizing APR in DeFi, and ‘Simple Yield’ for simplified interest earnings.
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.
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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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.
