DeFi

Binance Launchpool to Integrate DeFi Assets BNB with Web3 Wallet

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9 months ago

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Jessie A EllisJuly 30, 2024 2:28 p.m.

Binance expands support for DeFi asset BNB to its Web3 wallet, enhancing the BNB ecosystem. New integrations include liquid staking tokens and more.

Binance, a leading cryptocurrency exchange, has announced the integration of DeFi BNB Assets into its Web3 wallet, according to BinanceThis initiative aims to improve the BNB ecosystem by extending the BNB benefits of the exchange to the decentralized world.

Starting with the upcoming Launchpool event, DeFi BNB assets will be included in the rewards calculation. Users holding supported BNB assets in their Binance Web3 MPC wallet will have these assets counted towards their BNB Launchpool holdings, allowing them to earn rewards.

Supported Tokens

Currently, the DeFi BNB Assets feature supports liquid staking tokens. Binance also plans to expand this support to include other decentralized BNB assets such as liquidity provider tokens from decentralized exchanges (DEXs), interest-bearing tokens from lending protocols, and yield tokens from yield trading protocols.

Roadmap for the future

In addition to Launchpool, Binance plans to expand support for DeFi BNB assets to Megadrop and HODLer Airdrops. The company invites various projects to join as liquid staking tokens on DeFi BNB assets. Interested parties can contact Binance via the provided email addresses for more details.

Binance also noted that the supported assets may carry risks such as asset loss due to smart contract vulnerabilities. The company will not be liable for these risks or potential asset losses. Additionally, if the supported assets are affected by incidents such as malicious issuance, Binance may exclude certain assets from the reward calculation.

User Responsibilities

Users are advised to inform themselves and comply with the restrictions and requirements related to accessing and using DeFi BNB Assets and Binance Web3 Wallet in their respective countries. Participation in DeFi BNB Assets is subject to eligibility based on the user’s country or region of residence.

Currently, users from countries such as Australia, Brazil, Canada, Cuba, Iran, Japan, New Zealand, the United States, and others are not allowed to participate in DeFi BNB Assets. This list is subject to change based on changes in local regulations and other considerations.

Binance reserves the right to take action against participants who engage in activities such as wash trading, mass account registration, or self-trading. The company also reserves the right to modify or cancel this announcement at any time without prior notice.

For the most accurate and up-to-date information, users are encouraged to refer to the original English version of the announcement.

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