Wrapped Beacon ETH (WBETH) is a new liquid staking token, where 1 WBETH represents 1 BETH. It also represents the staking rewards accrued by BETH token on ETH Staking after 2023-04-27 08:00 (UTC). You can use WBETH to participate in DeFi projects outside Binance and still receive the corresponding ETH Staking rewards accrued.