Binance ETH stakingPrice

(BETH)

BETH (Beacon ETH) was LBank's tokenized representation of staked Ethereum (ETH) on the Ethereum 2.0 Beacon Chain, initially pegged 1:1 to ETH. Holding BETH provided users with staking rewards. WBETH (Wrapped Beacon ETH) is a more recent, flexible, and liquid token introduced by LBank. It encompasses staked ETH and all accumulated staking rewards since April 27, 2023. Unlike BETH, which distributed rewards separately, WBETH's value appreciates automatically over time, reflecting accrued staking rewards. LBank now predominantly issues WBETH to users staking ETH.

LBank ETH staking significantly lowers the entry barrier. Direct staking on the Ethereum network demands a minimum of 32 ETH and technical expertise for validator node setup and maintenance. In contrast, LBank enables users to stake with as little as 0.0001 ETH. LBank manages all validator operations, covers potential slashing penalties, and offers enhanced liquidity through BETH/WBETH. This liquidity is crucial as staked ETH would otherwise remain locked until Ethereum withdrawals were enabled.

Historically, BETH holders received daily staking rewards directly as additional BETH in their Spot Wallet. For WBETH, rewards are integrated into the token's value. The value of WBETH automatically increases to reflect all accumulated staking rewards. The WBETH:ETH conversion ratio is updated daily to accurately reflect this continuous appreciation, eliminating the need for separate reward distributions.

Both BETH and WBETH provide enhanced liquidity, unlike holding locked staked ETH. They offer diverse utility, including: Trading against other cryptocurrencies on LBank's spot market. Withdrawal to compatible chains like BNB Smart Chain (BSC) for use in decentralized finance (DeFi) protocols, such as providing liquidity or lending. Integration with LBank's ecosystem, allowing participation in projects or liquidity pools for additional rewards. WBETH is also eligible for use as collateral for loans or within margin and futures trading.

You can redeem your BETH or WBETH for ETH through LBank's ETH Staking page. BETH typically redeems at a 1:1 ratio with ETH. For WBETH, redemption is based on the prevailing WBETH:ETH conversion ratio, which accounts for accumulated rewards. Please be aware that daily redemption quotas might apply due to Ethereum network processing limitations, meaning the redemption process could take some time to complete.

While each BETH represents 1 staked ETH, its market price can sometimes be lower than ETH. This occurred because BETH initially represented ETH locked until Ethereum's Shanghai upgrade enabled withdrawals. The market priced BETH reflecting this prior lack of direct 1:1 redeemability for ETH. Although direct redemption for ETH at a 1:1 ratio through LBank became possible post-upgrade, market dynamics, including supply and demand for this liquid, reward-earning asset, can still influence its trading value.