November 3, 2020 -- Binance, the leading blockchain and cryptocurrency infrastructure provider behind the world’s largest digital asset exchange, today announced a new feature on Binance Earn: BNB Vault that combines multiple income benefits of Binance Smart Chain (BSC), Launchpool, Savings, DeFi Staking, and more through one interface. Allowing its users to maximize their income potential with BNB from both centralized and decentralized finance products with one-click.
This new feature has been developed to easily allow users to place their BNB for yields in one platform for maximizing earning potential and also for some who may be undecided on which Binance Earn products to use.
BNB Vault is a yield aggregator that lets BNB holders flexibly deposit and withdraw BNB. How it works:
Users can use this feature by going to the BNB Vault page on Binance Earn and click Stake.
On the BNB Vault page, users can easily view all the benefits they’ll get from staking BNB, including:
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Rewards from Binance Flexible Savings products
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New Launchpool tokens gained from staking BNB
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Income from DeFi Staking offerings
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Benefits from participating in BSC (rewards coming soon)
How yield on BNB Vault compares with manually staking or depositing BNB in various Binance Earn products, using 1,000 BNB as an example:
Various Binance Earn Products
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Starting BNB deposit: 1,000 BNB
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Estimated APY: 1%
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BNB balance after one year: [1,010] BNB
Binance Vault
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Starting BNB deposit: 1,000 BNB
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Earning from APY*: 5%-10%
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BNB balance after one year: [1,050] BNB - [1,100] BNB
* APY for Binance Vault is calculated based on earnings from across the Binance Earn products, plus BNB staking benefits. APYs are regularly subject to change.
Combining DeFi and CeFi for Higher BNB Earnings
BNB Vault is an integrated product, which is the first of its kind to offer a single function for accessing everything on Binance Earn, plus the benefits of BSC. With this feature, Binance is hoping to empower its users on earning opportunities available for holding BNB.
BNB Vault combines the earnings from Binance’s centralized finance (CeFi) products with the benefits of its decentralized finance (DeFi) services through BSC. The new feature allows users to gain simultaneously from Binance Earn products and the BNB staking mechanism on BSC, which is supported by the growing ecosystem of DeFi projects and other blockchain solutions that increasingly use BSC.
BNB Vault also unlocks the potential of creating a series of products around BNB in the future, which is part of Binance’s larger goal of helping decentralized solutions grow via BSC.
