WBETH is Binance’s entry in liquid staking. Like Lido’s tokens it turns staked ether into something you can move and use, with the important difference that the staking is run by an exchange rather than by a protocol with a distributed validator set.<\/p>\n
Deposit ether with Binance’s staking product and you receive WBETH. The token does not rebase: its balance stays fixed while the amount of ether it represents increases as staking rewards are earned, so the WBETH-to-ETH exchange rate rises over time. It can be redeemed for ether through Binance, and it trades on the open market where it is priced against that redemption expectation.<\/p>\n
There is no cap or schedule. Supply reflects how much ether has been staked through the product, expanding on deposits and contracting on redemptions.<\/p>\n
The redemption path is the anchor, and here it runs through one company. Watch whether redemptions are open and functioning, since that is what keeps the market price aligned with the underlying, and watch the exchange rate itself, which should only rise. As with any staking derivative, Ethereum’s validator exit queue sets a floor on how quickly the underlying can actually be freed.<\/p>\n
WBETH is used as collateral within Binance’s own products and, to a lesser extent, in on-chain lending markets. Its ecosystem reach is narrower than Lido’s, which is the practical consequence of being an exchange product rather than a widely integrated protocol.<\/p>\n
Be clear about what the risk is here. This is exchange counterparty risk layered on top of staking risk: if the issuing company fails, restricts withdrawals or is forced by regulators to stop offering the product, the token’s redemption path is what breaks. That is a different risk from a protocol’s smart contracts failing, not a smaller one, and several large custodians have taken customer balances with them. Read our page on what \u00ab\u00a0not your keys, not your coins\u00a0\u00bb really means before treating an exchange-issued staking token as equivalent to holding ether.<\/p>\n","protected":false},"excerpt":{"rendered":"
Wrapped Beacon ETH is Binance’s liquid staking token: a transferable claim on ether staked through the exchange, whose value grows against ETH as rewards accrue.<\/p>\n","protected":false},"author":1,"template":"","meta":{"_cp_coin_symbol":"WBETH","footnotes":""},"class_list":["post-657","coin","type-coin","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/coinpric.com\/fr\/wp-json\/wp\/v2\/coin\/657","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinpric.com\/fr\/wp-json\/wp\/v2\/coin"}],"about":[{"href":"https:\/\/coinpric.com\/fr\/wp-json\/wp\/v2\/types\/coin"}],"author":[{"embeddable":true,"href":"https:\/\/coinpric.com\/fr\/wp-json\/wp\/v2\/users\/1"}],"version-history":[{"count":0,"href":"https:\/\/coinpric.com\/fr\/wp-json\/wp\/v2\/coin\/657\/revisions"}],"wp:attachment":[{"href":"https:\/\/coinpric.com\/fr\/wp-json\/wp\/v2\/media?parent=657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}