ETH 2.0 Staking Withdrawal Updates

Binance is the largest cryptocurrency exchange in the world. She announced on April 13 that ETH 2.0 staking participants will be able to trade ETH with their BETH holdings on a 1:1 basis on the ETH 2.0 Staking page. The feature will be available from 2023-04-19 08:00 (UTC).

Binance announcing that its platform will support $ETH 2.0 Staking withdrawals starting April 19 at 08:00 UTC.

What is the new update on the ETH 2.0 staking program?

A new update on staking withdrawals on Binance has just been released. It allows participants of the ETH 2.0 staking program to exchange their ETH for BETH on a parity basis.

However, the new feature is subject to certain conditions. First, users cannot cancel their ETH withdrawal requests after submission. So, Binance also specifies that ETH withdrawal requests can take up to 15 days and even several weeks. The withdrawal processing time is determined by the aggregate amount of ETH withdrawals requested by participants, as well as the Ethereum network.

Then you should know that BETH tokens blocked for ETH withdrawal request will not generate any ETH 2.0 staking rewards. Users should wait for the expected distribution date of traded ETH to be released before initiating a request of withdrawal. Thus, users can refer to the most recent ETH distribution date in the staking history. Other conditions are to be found in the announcement.

Ethereum Shapella: a welcome upgrade

The new changes in the Binance staking program come as a result of the Shapella upgrade on the Ethereum network. Indeed, it is a double update: Shanghai and Capella. The Ethereum network has two layers. The first is the execution layer and the second is the consensus layer. The execution layer is what Ethereum was running on before The Merge. Shapella will apply to both coats. More precisely, Shanghai applies on the execution layer and Capella on the consensus layer.

Staking was recently at the center of legal problems in the United States. This concerned the stock market constable and crypto businesses. In effect, these troubles have not spared Binance. Could ETH 2.0 Staking Update Rekindle Binance’s Legal Troubles?

Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of newsletter daily and weekly so you don’t miss any of the essential Tremplin.io!

Similar Posts