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Binance Unveils BNB Vault Passive Earning Service
Binance unveils a single resource for various passive earning products
Despite the expected rise in interest rates, it is still subject to change, notes Binance
So far, the service is focused exclusively on the BNB token
Binance has announced a new passive earning service that combines the functionality of Binance Smart Chain, Launchpool, Savings, and DeFiDecentralized Finance (DeFi) is a financial services built on blockchain technology that offer users access to an open, efficient and … More Staking
Binance has announced the launch of a new service called BNB Vault.
The new service, according to the exchange’s official announcement, includes numerous Binance products including Binance Smart Chain, Launchpool, Savings, and DeFi Staking. The exchange itself classifies the BNB Vault as a yield aggregator, allowing Binance Coin (BNB) token holders to quickly deposit and withdraw BNB.
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By placing BNB tokens in the BNB Vault service, users will be able to receive:
- Savings product awards;
- New Launchpool tokens received from BNB staking;
- Income from tokens pledged to DeFi Staking;
- Benefits of participating in BSC (awards coming soon).
The exchange explains the launch of the new service by the desire to provide users with complete information about new ways to earn money in a single interface:
“With this feature, customers will always know about that. how to get passive income from BNB, all in an easy-to-use interface “.
It is expected that with the launch of the BNB Vault, users will be able to increase the percentage of income several times.
However, the annual interest rate is subject to change, Binance noted. Meanwhile, Binance conducted another quarterly BNB token burn (2,253,888 tokens) for a record $ 68 million.
Thus, Binance continues to adhere to its strategy of quarterly burning BNB tokens..
At the moment, there is still 144.4 million BNB in circulation. It is assumed that the regular burning of tokens increases their scarcity, affecting the growth in value.
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