This announcement is general in nature. Products and services mentioned herein may not be available in your area.
Hello Binancians,
Binance Earn is excited to announce the launch of On-chain Yield which allows users to easily participate in various on-chain protocols and earn rewards directly through their Binance account.
The first supported offering is Babylon BTC Staking. Users can stake BTC and earn on-chain rewards sourced from the Babylon Protocol.
Subscriptions will be available on 09-12-2024 at 13:00 WIB with a limited quota of 1,000 BTC on a first-come, first-served basis. The minimum and maximum subscription amounts per account are 0.05 BTC and 5 BTC, respectively.
Please note that the On-chain Yield page will be available on 2024-12-09 at 11:00 AM WIB.
Benefits of On-chain Yield
Earning Rewards: Users can participate in on-chain protocols through Binance and earn rewards in the form of tokens, points, and other forms.
Easy to Use: Binance manages the integration and operation of on-chain protocols, so users can access on-chain earnings without the need for complicated setup.
Redeem Anytime: Users can redeem subscriptions at any time and enjoy shorter redemption times than staking directly on-chain.
Risiko Yield On-chain
On-chain Yield is a high-risk product whose rewards depend on a specific protocol and there is no certainty of rewards. Each protocol can have various risks, including but not limited to:
Smart Contract Vulnerabilities: On-chain protocols may have technical vulnerabilities and users bear the risks associated with smart contract functionality.
Market Volatility: The yields of on-chain protocols can fluctuate depending on market conditions, potentially leading to asset devaluation.
Protocol Failure: Operational or technical issues in on-chain protocols can lead to asset losses.
We recommend that users conduct thorough research to understand the potential risks associated with their chosen protocol before participating in On-chain Yield. Binance is not responsible for any asset losses resulting from on-chain protocol issues. For more information, please read our On-chain Yield Terms, Terms of Use, and Risk Warning.
How to Start Staking Babylon for On-chain Yield:
Website
Step 1: Click [Earn] on the top navigation menu.
Step 2: Open [High Yield] > [Yield On-chain].
Step 3: Click [Subscribe], then confirm your staking amount and estimated reward.
Application
Step 1: Tap [More] on the App homepage.
Step 2: Open [Earn] > [Yield On-chain].
Step 3: Select your preferred portfolio, then tap [Subscribe] to get started.
About Binance On-chain Yield
Binance On-chain Yield allows users to easily participate in various on-chain protocols and earn tokens, points, and other rewards directly through their Binance account. With On-chain Yield, users can explore high-yield opportunities within Binance without any complicated on-chain setup or operations.
About Staking BTC Babylon Binance
Binance Babylon BTC Staking is the first on-chain staking offering powered by Binance On-chain Yield whose underlying yield is sourced from Babylon Protocol. Binance facilitates this process by helping users stake BTC into Babylon Protocol, so they can earn rewards provided by Babylon.
Babylon is a Bitcoin staking protocol that allows BTC holders to stake Bitcoin and earn rewards from the protocol. By participating in Babylon BTC Staking, users receive Babylon Points. These points do not represent any form of currency or property and are not redeemable, refundable, or transferable.
Please note:
On-chain Yield is a high-risk product with no guarantee of principal or return. It involves risks such as smart contract vulnerabilities, market volatility, protocol failures, and other potential risks. Users bear these risks independently and Binance is not responsible for any losses from on-chain protocols.
Points earned through On-chain Yield are not tokens, have no monetary value, and cannot be converted into other tokens or assets. Points are non-redeemable, non-refundable, and non-transferable. Binance determines the redemption and distribution of point rewards based on the progress of each protocol. We recommend that users do their own research on on-chain protocols to understand the utility and limitations of points before participating.
There may be differences between the original English content and the translated versions in other languages. Please refer to the original English version for the most accurate information if any discrepancies arise.
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Thank you for your support!
Tim Binance
05-12-2024