What Is EigenLayer WBETH Staking?

1. What is EigenLayer WBETH staking?

EigenLayer WBETH staking is a product available on Binance On-Chain Yields. It allows you to stake WBETH from your Spot Account and Funding Account into the EigenLayer Protocol. Through EigenLayer's restaking mechanism, you can earn additional rewards while retaining the liquidity and staking rewards of WBETH.

2. What is Eigenlayer?

EigenLayer is a protocol built on top of the Ethereum blockchain. It introduced a concept called "restaking collective," allowing ETH stakers to support applications within the Ethereum ecosystem.

3. What is WBETH?

Wrapped Beacon ETH (WBETH) represents your staked Ethereum (ETH) and the staking reward received, in a tradable and transferable form. WBETH accumulates ETH staking rewards by growing in value in relation to ETH, even when it is used in Binance products or DeFi Projects.

4. What rewards can I earn by participating in EigenLayer WBETH staking?

By staking WBETH on EigenLayer, you can earn two types of rewards:

WBETH rewards: Holding WBETH represents the staked ETH plus the staking rewards. No rewards will be distributed to your Spot Account directly. Instead, the rewards earned are accrued and will increase the value of WBETH. This increased value is reflected by the WBETH:ETH conversion ratio updated daily at 00:00 (UTC). You‘ll be able to check the records of your earned rewards value in ETH on the WBETH Reward History on the Binance ETH Staking page.

EigenLayer rewards: EigenLayer WBETH staking rewards are distributed in EIGEN. Rewards are recorded daily starting from 00:00 (UTC) after you subscribe. However, these rewards are not distributed daily. All recorded rewards will be distributed to your Spot Account after the staking period ends.

Daily Rewards in EIGEN = (WBETH (Price in USDT) * APR / 365) / EIGEN (Price in USDT)

(Based on the token price at the daily snapshot time)

5. How to participate in EigenLayer WBETH staking?

Log in to your Binance account and navigate to [Earn] - [Advanced Earn] - [On-chain Yields]. Choose [WBETH] from the list. Enter the staking amount and duration, review and accept the terms, then click [Confirm].

6. How to check my staking status and rewards?

You can check your staked amount, accumulated rewards, and redemption status from [Assets] - [Earn] - [Staking] - [On-Chain Yields Locked].

7. When will I receive rewards from EigenLayer WBETH staking?

Rewards accumulate daily and will be distributed upon maturity of the product. You can check your accumulated rewards by navigating to [Assets] - [Earn] - [Staking].

8. What are the subscription and redemption rules?

Subscription and redemptions for EigenLayer WBETH staking products are open daily between 00:10 to 23:50 (UTC).

You can redeem your assets anytime before maturity. Once confirmed, the redemption process is irreversible, and all accrued rewards will be forfeited.

After initiating early redemption, the principal will be returned to your Spot Account within 3 days. No rewards will be earned during this period.

Notes:

• In cases of extreme market fluctuations, network delays, or high request volumes, redemption may be delayed.
• If the product maturity time is shorter than the early redemption processing time, early redemption will not be possible.
• If you have not enabled Auto-Subscribe, your staked assets will be automatically redeemed to your Spot Account upon maturity.