• Here’s How To Earn A New Binance Chain Token

  • Stader Labs, a staking product developer, has developed a new coin, BNBx, on BNB Chain. According to Stader and BNBChain, the token allows users to optimize their yield on BNB while maintaining liquidity.

    Binance Coin, or BNB, powers BNB Chain, a blockchain platform launched by Binance. BNB is presently trading at $270.53, a gain of more than 5%.

    How Does BNBx Work With BNB?

    Stader noted in a blog post that BNBx will operate easily for people who already own $BNB and want to stake with Stader. BNBx’s value will rise faster than BNB’s over time.

    According to Stader, BNBx does not have a set APY. It instead has a dynamic APY that is determined by the rewards that validators are offering. When consumers stake BNB on their platform, they automatically earn extra $BNB. The platform then stakes it ideally with several validators.

    Stader notes in a separate article that they will prioritize validators who charge less than 10% of their delegators and have a reward rate greater than 5%. When validators process transactions, they create incentives and increase the supply of BNBx.

    According to Stader, BNBx is a reward-driven liquidity token. As more and more awards are accumulated, the token’s value will rise in comparison to BNB. At the product’s launch, the exchange rate between the two tokens will be one. However, as additional transactions and staking take place, the rate will be changed using a formula.

    The Token’s Fee Structure

    Stader also explained the token’s fee structure. They indicated that users who invest will be required to pay a transaction fee to Binance, which is not under Stader’s authority. Furthermore, there is a 10% reward charge that consumers will have to pay only after they have earned the incentive.

    Stader expressly specifies that users will not be charged a commission on staked BNB, but only on earned incentives.

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