Wrapped Beacon ETH/WBETH#23 1

What is Wrapped Beacon ETH (WBETH)?

Wrapped Beacon ETH (WBETH) is a liquid‑staking derivative that represents 1 ETH staked on the Ethereum Beacon Chain plus all accrued staking rewards. Created by Binance in April 2023, WBETH turns otherwise locked ETH into a transferable ERC‑20 token, giving holders DeFi liquidity while they continue to earn validator rewards.

On Binance, users can wrap BETH (the exchange’s custodial staking token) into WBETH and unwrap back to BETH at zero fees. On‑chain participants can stake native ETH directly to the official WBETH smart contract and receive WBETH 1:1. Every day, the exchange oracle updates the conversion rate so that WBETH’s value increases relative to ETH as new rewards accrue.

Key Features

• Liquidity for Staked ETH – Trade, lend, or use WBETH in DeFi protocols without un‑staking.

• Reward Accrual – Conversion rate rises daily; no manual claim needed.

• Zero‑Fee Wrap/Unwrap – Binance offers cost‑free conversion between BETH and WBETH.

• ERC‑20 Compatibility – Seamlessly integrates with EVM wallets and DeFi dApps.

• Multiple Markets – Listed on Binance (WBETH/ETH, WBETH/USDT), PancakeSwap V3 (ETH & BSC), Biswap V3, and more.

• Custody Flexibility – Hold on exchange for convenience or self‑custody in any wallet that supports standard tokens.

How Does WBETH Work?

1. Staking Input – A user stakes ETH via Binance (or calls the on‑chain contract) and receives WBETH 1:1.

2. Reward Tracking – The protocol tracks validator rewards; a daily oracle push increases the WBETH‑to‑ETH exchange rate.

3. On‑Chain Utility – Because WBETH is ERC‑20, holders can supply it to lending pools, LP farms, or collateral vaults while still accruing ETH rewards.

4. Redeeming ETH – Unwrap WBETH back to BETH on Binance (fee‑free) or convert on‑chain; withdraw unstaked ETH once the beacon‑exit queue clears.

5. Security Model – Smart contracts are open‑sourced and audited; custodied staking nodes earn/lose rewards per Ethereum PoS rules, with Binance absorbing slashing risk.

Where to Get WBETH

• Crypto Exchanges: Binance (Spot & Earn), HTX, Gate.io (regional availability may vary).

• Decentralized: PancakeSwap V3 (Ethereum & BSC), Biswap V3. Confirm pool liquidity before large trades.

WBETH Supported Wallets

Hardware: Ledger, Trezor, SafePal S1, Keystone. Browser: MetaMask, OKX Wallet, Coinbase Wallet, Binance Wallet, Rabby. Mobile: Trust Wallet, TokenPocket, imToken, SafePal App. Multi‑sig & Custody: Gnosis Safe, Fireblocks. Exchange custody: Binance Spot Wallet, Binance Earn Wallet.

Store long‑term holdings on hardware; keep a smaller balance in MetaMask or Trust Wallet for day‑to‑day DeFi activities.