Crypto exchange Binance has just launched the Wrapped Beacon ETH (WBETH) token.
According to the platform, users will be able to use WBETH on DeFi protocols outside the exchange. However, they will still receive rewards for staking on the main platform.
Next April 27, it will be possible to convert the synthetic asset BETH to WBETH in a 1:1 ratio.
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The company has warned that this value may change in the future, "as the cost of WBETH will increase with time."
Last April 19, Binance opened the withdrawal of ETH from staking after the activation of the Shapella update on the network of the second largest crypto on the market.