BNB Chain To Integrate Native Staking On BNB Smart Chain Post Beacon Chain Sunset
In Brief
BNB Chain ecosystem will integrate LSDFi in BSC after transferring all BNB Beacon Chain functionalities to BSC.
BNB Chain ecosystem unveiled plans to incorporate native liquid staking (LSDFi) onto the BNB Smart Chain (BSC) after the sunset of the BNB Beacon Chain, which entails transferring all BNB Beacon Chain functionalities to BSC. The LSDFi incorporation is slated to occur by the end of the month or in early May.
By adopting high-APY native staking on BSC alongside improved MEV rewards, the new introduction is set to provide participants with the ability to secure the network along with preserving the liquidity of their assets. The issuance of liquid staking tokens, which are staked BNB, will empower network users to partake in decentralized finance (DeFi) activities without compromising asset utility.
The recent introduction presents several additional advantages. These encompass the provision of enhanced returns to delegators, enabling them to benefit from LSDFi and MEV opportunities. Delegators are now capable of directly engaging in voting on BSC. Additionally, it enhances flexibility by facilitating users’ participation in various DeFi protocols, avoiding the compromising of staking yields and thereby bolstering BNB governance and its associated application scenarios.
Furthermore, it widens the user base, offering increased opportunities for members to exert influence on decisions and reap financial rewards. Meanwhile, the inclusion of new validators like Lido and Renzo aims to diversify the network’s expertise and cultivate a more robust staking ecosystem for the BNB Chain.
BNB Chain Prepares For BNB Beacon Chain Sunset
The BNB Chain ecosystem comprises BSC, Layer 2 solution opBNB, and the data storage network BNB Greenfield. Renowned for its low gas fees and high transactions per second, this ecosystem accommodates a diverse array of decentralized applications (dApps) across various sectors, including DeFi, metaverse, gaming, SocialFi, NFTs, and infrastructure.
The integration of native staking into BSC will be made possible by the upcoming sunset of the BNB Beacon Chain, which is slated for completion in late June 2024. The purpose of this sunset is to enhance network efficiency, mitigate security threats, and align the architecture of the BNB Chain with present requirements and expansion strategies.
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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.
