Ceffu Relaunches Ethereum Liquid Staking Solution with Binance Earn

2024-05-13  •  3 min read

As interest in liquid staking solutions continues to rise, we are thrilled to announce our latest partnership with Binance Earn , allowing Ceffu’s institutional clients to stake their ETH and receive a tokenized representation of their staked ETH as daily rewards in Wrapped Beacon ETH (WBETH)

How does staking ETH on Ceffu with Binance Earn work?

WBETH allows institutional clients of Ceffu to liquid stake their ETH directly from their Prime Wallet while simultaneously enjoying the flexibility of using their WBETH in any way they want within the Binance ecosystem, including trading on the Binance spot market through our off-exchange settlement solution, MirrorX.

To get started, simply select a Prime Wallet from which you wish to stake your ETH in the staking portal of your Ceffu web app. Your staked ETH will then be sent to the Binance Earn platform and generate rewards in WBETH. Rewards are distributed back to your Ceffu Prime Wallet as WBETH to reuse as needed.

Benefits of earning WBETH on Ceffu

  • Earn Daily Rewards: Earn yields daily by staking your ETH & holding WBETH. For Reference APR, see the Binance ETH Staking page.

  • Value Accrual: WBETH represents 1 staked ETH plus the accumulated staking rewards since 2023-04-27 08:00 (UTC) when WBETH was first introduced to Binance ETH Staking. This means its value grows over time.

  • Slashing protection: Slashing risk coverage allows you to stake your ETH with peace of mind

  • Deep Binance liquidity: Exchange your staked WBETH for ETH on the Binance spot market, the world’s most liquid crypto trading platform

  • Broader Use Cases: Usable in various DeFi applications and across different networks, enhancing its utility beyond Binance. For all use cases of WBETH, see the Binance ETH Staking page.

  • Flexible amounts: Start earning yield on your ETH holdings for as little as 0.001 ETH

What is liquid staking?

Liquid staking enables users to receive a liquid, tradable asset as a representation of their staked cryptocurrency in a proof-of-stake blockchain such as Etheruem and its native token, ETH. 

Marking a shift from conventional staking methods, where tokens stay inaccessible until unstaked, liquid staking ensures users maintain accessibility to their asset’s value. This accessibility stimulates versatility in their interaction with various decentralized finance applications and a host of web3 protocols, maximizing the utility of their staked assets.

As of this writing, WBETH ranks as the third largest LSD according to DefiLlama. With its considerable total value locked (TVL) surpassing up to $2.5 billion USD, WBETH has successfully grounded itself as an essential pillar within the liquid staking infrastructure.

Not a Ceffu client yet?

Contact us to learn more about how Ceffu’s custody and liquidity solutions can help drive your business forward, contact us using our institutional form.

About Binance Earn

Binance Earn was designed to help users grow assets on autopilot. Binance Earn removes all the complexity in the crypto space, providing a simple solution to achieve 1 thing - allow our users to put their crypto to work. Whether you are a new user, sophisticated trader or high net worth individual, there is a solution for you on Binance Earn to earn yields. Check out Binance Earn.

About Ceffu

Ceffu is a compliant, institutional-grade custody platform offering custody and liquidity solutions that are ISO 27001 & 27701 certified and SOC Type 1 & Type 2 attested. Its multi-party computation (MPC) technology, combined with a customizable multi-approval scheme, provides bespoke solutions allowing institutional clients to safely store and manage their digital assets.

Institutions also benefit from Ceffu’s secure gateway to a wide range of liquidity products within the Binance ecosystem as Binance’s institutional custody partner through MirrorX, its off-exchange settlement solution.

Media contact: pr@ceffu.com 

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