BNB Chain has announced that it will introduce native liquid staking on its BNB Smart Chain (BSC) as part of its transition from the BNB Beacon Chain to BSC. The BNB Beacon Chain will be shut down completely by June 2024, but its features will be transferred to BSC before the closure.
The implementation of liquid staking on BSC will allow participants in the ecosystem to secure the network while maintaining the liquidity of their assets. Although a specific date for the rollout of this feature has not been provided, BNB Chain has indicated that it will happen in either April or May.
The core development team of BNB Chain stated that the move to BSC is aimed at streamlining the network and making it more attractive to users. They explained that with liquid staking, users can engage in decentralized finance activities without sacrificing the utility of their assets, as they will have liquid staking tokens representing their staked crypto assets.
Holders of BNB will have the option to delegate their tokens to a liquidity pool or directly to a validator. By staking their tokens in the liquidity pool, they can receive liquidity provider tokens, which can be used for various activities within the ecosystem.
Liquid staking and the optimization of maximum extractable value (MEV) for the BNB Chain will be rolled out simultaneously. Validators with MEV enabled will have the opportunity to enhance their staking returns through MEV revenue, which will be factored into Liquidity Staking rewards.
This move by BNB Chain aims to make the BNB Chain more appealing to users and enhance its functionality within the decentralized finance space.