Binance has just announced via a blog post, that it is supporting the ETH 2.0 staking program that started on Tuesday, December 02, 2020. As Binance supports the ETH 2.0 staking program, it has promised to give extra rewards to all the early users. The ETH 2.0 staking users will be receiving rewards in the form of BNB tokens, the native token of Binance. As per the post, BETH tokens are redeemable for ETH, right after the launch. Binance Supporting ETH 2.0 Staking, Reward Period Already Started Moreover, the users will receive daily rewards in BETH as Binance supporting ETH 2.0 staking. The reward period already started as soon as ETH 2.0, phase 0 launched on Tuesday. The launch has started the multistage process from proof-of-work (PoW) consensus mechanism to proof-of-stake (PoS) system. It is also stated that once ETH 2.0 Phase 1 will be launched, all the BETH holders can redeem their ETH token at 1:1. The main purpose of staking on Binance is to reduce the difficulties of on-chain participants while receiving rewards. This also covers all the operating expenses of the validators along with bearing the risk of on-chain penalties. Double Staking Rewards Program According to the announcement, Binance is offering rewards to the customers, it is also providing the double staking rewards program. This double staking rewards program is for all those early staking users that will be receiving both BETH and BNB tokens. All those users, who have been verified by KYC will be receiving additional BNB rewards. This additional reward will be equal to their existing BETH rewards. The rewards will be distributed to the users in two different rounds which will be held on December 11 and December 16. All these rewards will be calculated according to the current BNB/ETH rate.
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