Stader Labs prepares to launch Liquid Staking on BNB Chain

Stader Labs will start launching liquid tokens, which will make it possible for them to earn higher profits on other DeFi protocols.

Stader Lads promises APY will be high

Stader Labs has added staking to BNB Chain. The protocol announced the gifts as well as the details of BNBx. In an interview, Stader Labs’ head of strategy and expansion – Mr. Gautan Midha said:

“We are excited to launch BNB Chain, which has billions of dollars in the ecosystem that can be unlocked through liquid staking. Plus, there will be several developed DeFi protocols that work on chains. We expect users to have innovative strategies built on the platform and able to maximize profits.”

APY up to 25% of BNB names is Stader’s promise to users. Stader Labs also offers an interesting bonus that is to give products worth up to $ 500 to 5 winners. https://twitter.com/stader_bnb/status/1551818282432286721?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1551818282432286721%7Ctwgr%5E7e77039c95aa883a72a506c0834dd6e108ed0133%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.bsc.news%2Fpost%2Fstader-labs-prepares-for-liquid-staking-launch-on-bnb-chain Currently the staking performance has reached 4-6%, Stader Labs claims it can be further increased to 15-25% through the optimal confirmation selection process and automatic interest grafting. In addition to liquid staking on BNB, Stader Labs will also launch its liquid staking codes. Liquid staking Beta is currently active on BNB Chain.

Structure of BNBx rewards

On July 20, as described by an article named Medium, when users use Staking on BNB, they will be charged BNBx at the current exchange rate and used to earn additional profits from other DeFi protocols. As a next step, users will send via different validators and Stader will optimize BNB. Validators will process the transaction and create the software. This reward will be transferred back by Stader to staking groups with the aim of enhancing the value of BNBx.

In an article on Medium, Stader Lads stated that: ” BNBx is a liquid stoken that offers rewards, i.e. 1 BNBx token against BNB will increase over time.”

The BNBx/BNB exchange rate increases according to the following formula: New BNBx/BNB = BNBx/Current BNB + (Added Rewards/ Total BNBx in circulation). Alternatively, you can use BNBx tokens to borrow stablecoins that you have staked to earn rewards. At launch, BNB can be used as collateral to borrow any BEP-20 token. Borrowed tokens can be taken out for trading for more BNB tokens, and it allows more BNBx to be minted. >> See also: FTX review 2022: The simplest way to apply for FTX for newbies.