Binance Web3 Wallet Enhances Yield Opportunities with 13 New Protocols and SOL Staking

James Ding Oct 02, 2024 09:02

Binance Web3 Wallet integrates 13 new protocols and introduces SOL staking, expanding yield opportunities for users.

Binance has announced significant updates to its Web3 Wallet’s Earn section, integrating 13 new protocols and introducing SOL staking, according to Binance.

New Protocol Integrations

The latest update to Binance’s Web3 Wallet includes the addition of 13 new decentralized applications (dApps), allowing users to earn yield on a wider range of tokens and networks. The newly integrated dApps are Morpho, Marginfi, Kamino, Spark, Jito, Marinade, Sanctum, Mellow, Eigenlayer, Mantle, Etherfi-King karak LRT, Bnsol, and Lista. This enhancement offers users a broader array of annual percentage rate (APR) options and the potential for higher rewards.

Introduction of SOL Staking

In addition to the new protocols, Binance has introduced SOL staking through its Web3 Wallet. Users can now stake their SOL tokens and receive BNSOL, a liquid staking token that represents their staked assets. This allows users to continue earning staking rewards while maintaining the flexibility to trade, lend, or use their assets across various Binance products and third-party protocols.

Simple Yield Zone

The Simple Yield Zone within the Binance Web3 Wallet enables users to earn APR by providing liquidity to various third-party protocols. These protocols include lending, restaking, and liquid staking, and users can utilize stablecoins and other tokens for these activities. Depending on the chosen protocol, users may receive both Supply APR and Distribution APR.

Enhanced User Experience

The updates aim to provide a safer and smoother operation, enhancing the overall user experience. The Binance Web3 Wallet is designed to make it easier for users to manage and grow their crypto assets.

About Binance Web3 Wallet

The Binance Web3 Wallet is a secure, self-custodial crypto wallet integrated within the Binance App. It enables users to interact with multiple blockchains, trade a wide range of tokens, earn yield, and explore a selection of decentralized applications, all within one wallet. Developed with a focus on innovation, security, and seamless user experience, the Web3 Wallet serves as a bridge between Binance services and the Web3 world.

For more information, visit the official Binance announcement.

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• binance
• web3 wallet
• sol staking
• crypto