What is Liquid BNB Staking? | The exciting new way to earn coming to TEN Finance!
👋Hey TENizens!
Today we’re excited to discuss & explain the next big feature coming to the TEN Finance ecosystem — Liquid BNB Staking! This article aims to be a useful guide and introduction to the concept of liquid staking, what it means and how you’ll be able to use it across TEN Finance and LEND platforms to maximise your BNB revenue. Throughout this guide we’ll show you how you can generate 7, yes 7 streams of revenue from a single token!
Before we begin we’ll cover the basics so users new and old understand the benefits and key differences between traditional and liquid BNB staking.
TLDR; Liquid BNB staking, simply means that you can continue to trade and use your BNB tokens as you normally would, while still earning a share of the transaction fees generated on the Binance Chain.
What is BNB Staking?
Traditional BNB staking is a way for crypto holders to earn rewards for holding Binance Coin (BNB) without the need of trading or lending. BNB is the native token of the Binance Exchange, and when users stake their BNB, they are essentially allowing the exchange to temporarily use your tokens to support Binance Chain network operations.
How does Staking BNB work?
By staking BNB, users are essentially temporarily locking their tokens. This process can help to validate transactions using BNB’s Proof-of-Stake (PoS) network and as a result ensures that the network remains decentralized and resistant to attacks. In return as a reward for staking their BNB, users receive a portion of Binance’s blockchain validation fees.
Staking VS. Holding Tokens
The reason why many users opt to stake tokens vs. holding comes down to the benefits and rewards received for doing so.
- Earning — Staking BNB allows users to easily start earning BNB as interest.
- Simplicity — Staking BNB is the easiest way to start passively earning additional assets as a crypto newbie.
- Chain Safety — Staking BNB tokens contributes to the overall health, safety and security of BNB Chain as a whole.
How are staking rewards calculated?
The amount of rewards that a user can earn through staking BNB depends on a number of factors, such as the amount of BNB tokens they are staking, the length of time they are staking them for, and the overall performance of the Binance network. In general, the more BNB tokens a user stakes and the longer they stake them for, the more rewards they can earn.
Sounds perfect, but in this ever-evolving DeFi space, locking up your tokens can mean missing out on maximising your yield from tokens. The difficulty with traditional staking is that once staked your original assets cannot be touched if you wish to continue receiving staking rewards. So you’re limited to only earning from one stream of revenue.
This is where Liquid BNB Staking changes the game…
What is Liquid BNB Staking?
Liquid BNB staking is different from regular BNB staking in that it allows users to earn rewards without having to lock up their BNB. This means that you can still earn the traditional staking rewards on your BNB holdings without having to commit to a long-term staking period. In other words it means your BNB becomes ‘liquid’ and can still be accessed and actively traded at any time without penalty, whilst still continuing to accrue the standard staking interest.
TLDR; Liquid BNB staking, simply means that you can continue to trade and use your BNB tokens as you normally would, while still earning a share of the transaction fees generated on the Binance Chain.
To put it briefly liquid staking gives you all the perks of regular staking whilst still allowing you the freedom of using your assets.
This provides greater flexibility and liquidity for BNB holders who want to participate in staking without sacrificing their ability to use their tokens. The freedom of Liquid BNB means it can also be used in additional DeFi earning opportunities, such as providing liquidity in the TEN Finance liquid BNB vaults.
Liquid BNB is a flexible and convenient way to earn the traditional staking rewards on your BNB holdings, and can earn additional income through being a part of your DeFi cryptocurrency portfolio.
✅ Thanks for Reading!
Liquid BNB staking is the newest innovation coming to TEN Finance. This important new feature will allow our users to benefit from the TEN/LEND ecosystems in a way that maximises their potential BNB interest, earn a share of 50% of the total revenue LEND will generate and even more revenue from YIELDEX (which will have a 2.0 upgrade soon!).
We hope this guide serves as an important introduction to the upcoming Liquid BNB staking feature and each reader understands the massive earning potential created by this.
📚 Continue learning about TENFI:
https://medium.com/tenfinance/meet-the-tenfi-token-extensive-utilities-exclusive-earning-for-all-tenfi-holders-410bb9fb38d4
As we continue to prepare this exciting feature for launch make sure you’re following all TEN Finance social channels to be the first to hear news, updates and fantastic opportunities for our community.🤝
👋 See you next time TENizens!
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