Stader Labs, a staking merchandise developer, has launched a new token, BNBx, on BNB Chain. According to Stader and BNBChain, the token allows customers to maximize their yield on BNB while maintaining liquidity.
Binance Coin, or BNB, powers BNB Chain, a blockchain platform launched by Binance. BNB is currently up by more than 5% and is trading at $270.53.
How does BNBx work with BNB?
Stader stated in a blog post that BNBx will work seamlessly for those who are currently holding $BNB and choose to stake with Stader. BNBx’s value will rise faster than that of BNB over time.
Stader reveals that BNBx does not have a fixed APY. Instead, it has a dynamic APY that is determined by the rewards that validators provide.
Customers who stake BNB with their platform will routinely earn extra $BNB. The platform then stakes it optimally with various validators.
Stader explains in a separate submission that they will prioritize validators who cost less than 10% of their delegators and have a reward charge greater than 5%. When the validators complete a transaction, they will generate rewards and increase the BNBx supply.
According to Stader, BNBx is a reward-driven liquidity token. As more rewards are accrued, the token’s value will increase in comparison to BNB. On the day the product is released, the trade charges between the two tokens could be one. However, as more transactions and staking occur, the speed may be adjusted in accordance with a method.
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