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$BNB Chain will allow #BSC native liquid staking.
As the BNB Beacon Chain is shut down, BNB Chain will allow native liquid staking on its BNB Smart Chain (BSC).
BNB Chain informed Cointelegraph that the BNB Beacon Chain would close in June 2024. The firm says it would move its features to the BSC before closing.
BNB Chain claimed liquid staking on BSC would let ecosystem members protect the network while maintaining asset liquidity.
BNB Chain indicated the liquid staking functionality will launch in April or May.
The BNB Chain core development team informed Cointelegraph that switching to BSC is a network optimization effort. They said:
Implementation coincides with the BNB Chain Fusion sunset, simplifying the network, enhancing efficiency, eliminating security threats, and meeting technical needs.
The team said that the move is part of the company's expansion ambitions to make BNB Chain “more attractive to users.”
BNB Chain claimed that users may participate in decentralized finance without compromising asset usefulness since they would have liquid staking tokens reflecting their staked crypto assets.
The BNB Chain core development team informed Cointelegraph that holders may assign BNB $60 to a liquidity pool or the validator. They said:
BNB liquidity staking compensates stakers and secures the BNB Chain network. BNB holders have additional choices for staking their assets and BNB.
BNB holders may obtain liquidity provider tokens for staking their tokens in the liquidity pool, which they can employ in numerous ecosystem activities, the team noted.
The development team plans to launch liquid staking and BNB Chain MEV optimization concurrently.
“Validators with MEV enabled will have the opportunity to boost their staking returns through MEV revenue, which will count toward Liquidity Staking rewards,” the team said.
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