Cryptocurrency exchange Binance announced a new feature on Binance Earn today. Dubbed ‘BNB Vault’, the new feature combines multiple Binance products to maximize the income potential of Binance users.
BNB Vault is an integrated product that combines multiple income benefits of Binance Smart Chain (BSC), DeFi Staking, Launchpool, Savings, and many other products through one interface to make it easy and flexible for the users.
The single function feature now allows the BNB community to access everything on Binance Earn. In an official press release, the exchange mentioned that the BNB Vault will allow users to earn an estimated Annual Percentage Yield (APY) of 5% to 10%.
The new feature helps Binance users to place their BNB for yields in one place to maximize the earning potential. It is also helpful for those who may be unsure about which Binance Earn products to use.
How BNB Vault Works?
Binance users can now use this feature by going to the BNB Vault page on Binance Earn and by clicking stake. The details of all the benefits attached to BNB Vault are listed there, including Launchpool tokens gained from staking BNB, income from DeFi staking offer, benefits related to participation in Binance Smart Chain, and rewards from Binance Flexible Savings products. According to the company, an estimated APY on Binance Vault stands at around 5% to 10%. BNB Vault is a part of Binance’s larger goal of launching decentralized solutions through Binance Smart Chain.
Binance recently added new features to its branded debit card which allows Binance users to convert their cryptocurrencies in fiat and also to spend them at more than 60 million locations around the world. Moreover, Binance introduced ‘Daily Cashback’ feature’ on its card to make cashback available for users on a daily basis. Furthermore, the exchange expanded its loan platform and added CTK, the native token of CertiK blockchain.