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The Wrapped Beacon ETH token was made as a rebranding of Ethereum staking. Users will be able to use it in various decentralized protocols outside of the cryptocurrency exchange. At the same time, they will be able to receive a reward for staking on the main platform.
On April 27, it will be possible to convert BETH's synthetic asset to WBETH. The ratio will be one to one. However, the company noted that in the future the exchange rate may be changed, as the value of the asset will grow over time.
Recall that on April 19, following the main Ethereum network, the Binance cryptocurrency exchange also opened the withdrawal of Ethereum from staking. This is due to the fact that the Shapella protocol was successfully launched by the development team.
Recall that staking is one of the algorithms of the PoS cryptocurrency network. The bottom line is that users froze a certain amount on a separate wallet, due to which the crypto network worked. When finding blocks, such users were rewarded. However, at first, the developers did not allow the withdrawal of the asset until they launched the Shapella protocol, in which ETH completely switched to the PoS algorithm.
