BNB staking | BNBx Rewards
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Frequently asked questions
BNB staking is the process of locking up BNB tokens in the BNB Chain to support network operations and earn staking rewards. There are two roles in BNB staking: validators and delegators.
Validators process transactions, maintain network security and require daily re-election by staking governance to continue being part of the validator set.
Delegators, on the other hand, stake their BNB to validator candidates, helping them achieve the minimum stake required by the protocol.
BNB staking is the process of locking up BNB tokens in the BNB Chain to support network operations and earn staking rewards. There are two roles in BNB staking: validators and delegators.
Validators process transactions, maintain network security and require daily re-election by staking governance to continue being part of the validator set.
Delegators, on the other hand, stake their BNB to validator candidates, helping them achieve the minimum stake required by the protocol.
BNB staking follows a Proof of Stake (PoS) consensus mechanism, with transactions validated by stakers. To stake BNB on Stader as a user, first, ensure you have BNB in your wallet and connect it to the Stader DApp. Once connected, you can stake BNB and receive BNBx as a liquid token, which can be used for various DeFi activities.
Stader Labs offers a reliable and efficient method for staking BNB. As a trusted liquid staking solution, we allow users to accrue BNB staking rewards without the necessity of maintaining infrastructure. This also enables participation in other DeFi strategies while continuously generating rewards.
Here’s a step-by-step process of how to stake BNB on Stader:
Step 1: Connect and sign in to your wallet.
Begin by selecting the "Connect Wallet" option. A pop-up titled "Select Wallet" will be displayed. Then confirm your acceptance of the Terms of Service by checking the provided checkbox.
Now, choose the specific wallet you intend to connect with. Trust Wallet users can utilize "Wallet Connect" for this purpose. And for Metamask wallet users, you must first enter your password and then choose your desired account. Next, tap on the "Connect" button.
Step 2: Successful Wallet Connection.
Look at the top right corner of the dApp; it will exhibit your wallet address. Your BNB balance will be visible within the dApp.
Step 3: Staking begins.
Specify the total amount of BNB you want to stake. Now, verify the corresponding amount of BNBx you will receive. And lastly, click on the "Stake" button to proceed.
A prompt requesting your authorization will appear in your wallet. You need to approve the transaction. Once done, a pop-up will appear confirming the successful completion of the transaction. Just verify the updated BNBx balance in your wallet, and you are good to go! You can also refer to this to understand how to liquid-stake BNB with Stader.
BNB staking follows a Proof of Stake (PoS) consensus mechanism, with transactions validated by stakers. To stake BNB on Stader as a user, first, ensure you have BNB in your wallet and connect it to the Stader DApp. Once connected, you can stake BNB and receive BNBx as a liquid token, which can be used for various DeFi activities.
Stader Labs offers a reliable and efficient method for staking BNB. As a trusted liquid staking solution, we allow users to accrue BNB staking rewards without the necessity of maintaining infrastructure. This also enables participation in other DeFi strategies while continuously generating rewards.
Here’s a step-by-step process of how to stake BNB on Stader:
Step 1: Connect and sign in to your wallet.
Begin by selecting the "Connect Wallet" option. A pop-up titled "Select Wallet" will be displayed. Then confirm your acceptance of the Terms of Service by checking the provided checkbox.
Now, choose the specific wallet you intend to connect with. Trust Wallet users can utilize "Wallet Connect" for this purpose. And for Metamask wallet users, you must first enter your password and then choose your desired account. Next, tap on the "Connect" button.
Step 2: Successful Wallet Connection.
Look at the top right corner of the dApp; it will exhibit your wallet address. Your BNB balance will be visible within the dApp.
Step 3: Staking begins.
Specify the total amount of BNB you want to stake. Now, verify the corresponding amount of BNBx you will receive. And lastly, click on the "Stake" button to proceed.
A prompt requesting your authorization will appear in your wallet. You need to approve the transaction. Once done, a pop-up will appear confirming the successful completion of the transaction. Just verify the updated BNBx balance in your wallet, and you are good to go! You can also refer to this to understand how to liquid-stake BNB with Stader.
You can stake any amount of BNB with Stader.
You can stake any amount of BNB with Stader.
The security of our liquid staking solutions is paramount to us, and we continuously strengthen our safety. We are currently achieving top-notch security through the following efforts:
- Continuous review and testing of all code.
- Chain review of code
- Successful independent audits of a smart contract - BNBx Audited by top firms Halborn & Peckshield
- Use of Time-lock and Multi-sig accounts for contract upgrades
- Real-time on-chain security tracking by Forta to alert on any threats
- An open bug bounty program with Immunefi to highlight bugs in the contract or Dapp with a max bounty of $1,000,000.
- For DeFi protocols that Stader partners with, we ensure that they follow multiple security checks, including multiple independent audits and ongoing monitoring practices.
The security of our liquid staking solutions is paramount to us, and we continuously strengthen our safety. We are currently achieving top-notch security through the following efforts:
- Continuous review and testing of all code.
- Chain review of code
- Successful independent audits of a smart contract - BNBx Audited by top firms Halborn & Peckshield
- Use of Time-lock and Multi-sig accounts for contract upgrades
- Real-time on-chain security tracking by Forta to alert on any threats
- An open bug bounty program with Immunefi to highlight bugs in the contract or Dapp with a max bounty of $1,000,000.
- For DeFi protocols that Stader partners with, we ensure that they follow multiple security checks, including multiple independent audits and ongoing monitoring practices.
Stader’s smart contract accumulates the rewards offered natively from the staked BNB & restake them into the smart contract once a day, increasing the BNBx exchange rate. New BNBx tokens are only minted when a user deposits an equivalent amount of BNB into our smart contract.
Stader’s smart contract accumulates the rewards offered natively from the staked BNB & restake them into the smart contract once a day, increasing the BNBx exchange rate. New BNBx tokens are only minted when a user deposits an equivalent amount of BNB into our smart contract.
The annualized rewards run rate typically depends on the rewards generated at the network level. You can also use the Stader BNB rewards calculator on the homepage to calculate your estimated reward potential. Apart from it, you can also participate in other DeFi protocols using BNBx to boost your rewards.
The annualized rewards run rate typically depends on the rewards generated at the network level. You can also use the Stader BNB rewards calculator on the homepage to calculate your estimated reward potential. Apart from it, you can also participate in other DeFi protocols using BNBx to boost your rewards.
Staking rewards are accrued daily. The rewards are added daily to the BNB stake pool, and the exchange rate is updated immediately after the reward addition. Essentially, the exchange rate is updated every 24 hrs.
Staking rewards are accrued daily. The rewards are added daily to the BNB stake pool, and the exchange rate is updated immediately after the reward addition. Essentially, the exchange rate is updated every 24 hrs.
Yes, you can scroll above and use the BNB Staking Calculator. It allows you to estimate potential rewards for your staked BNB based on factors such as the amount of BNB being staked, the duration of the staking period, and the annual staking rewards for BNB staking.
Yes, you can scroll above and use the BNB Staking Calculator. It allows you to estimate potential rewards for your staked BNB based on factors such as the amount of BNB being staked, the duration of the staking period, and the annual staking rewards for BNB staking.
Several benefits of staking BNB are:
- High reward potential: The staking platform you select can offer significant rewards for your staked BNB tokens. So choose your staking platform wisely.
- Stader offers top-notch security: We are audited by Halborn and Peckshield, while the Forta network does the on-chain monitoring. We also offer time lock and multi-sig features apart from running bug bounty in support with Immunefi.
- Staked token ownership remains with you: When you stake your BNB tokens, you are not transferring ownership of your BNB to the exchange or platform. This ensures that control remains with you. In fact, with Stader, you receive the liquid token BNBx for the BNB you stake with us.
- Instant liquidity: Staking with Stader allows for instant liquidity of your staked Matic tokens. This means that you can quickly and easily convert/swap your staked assets. It provides flexibility and accessibility, ensuring that your assets are not locked and can be readily utilized or moved as needed.
- Defi opportunities: BNB liquid staking allows you to access various DeFi opportunities, enabling you to participate in different decentralized finance protocols and gain additional benefits from your staked assets.
- Auto compounding: With BNB liquid staking on Stader, your rewards are restaked automatically, delivering even more staking rewards. This auto-compounding of rewards can result in much higher returns in the long run.
- Optimized validator allocation: Liquid staking platforms such as Stader optimize the allocation of staked assets among validators, ensuring effective validation while mitigating risks and maximizing potential benefits for stakers.
Several benefits of staking BNB are:
- High reward potential: The staking platform you select can offer significant rewards for your staked BNB tokens. So choose your staking platform wisely.
- Stader offers top-notch security: We are audited by Halborn and Peckshield, while the Forta network does the on-chain monitoring. We also offer time lock and multi-sig features apart from running bug bounty in support with Immunefi.
- Staked token ownership remains with you: When you stake your BNB tokens, you are not transferring ownership of your BNB to the exchange or platform. This ensures that control remains with you. In fact, with Stader, you receive the liquid token BNBx for the BNB you stake with us.
- Instant liquidity: Staking with Stader allows for instant liquidity of your staked Matic tokens. This means that you can quickly and easily convert/swap your staked assets. It provides flexibility and accessibility, ensuring that your assets are not locked and can be readily utilized or moved as needed.
- Defi opportunities: BNB liquid staking allows you to access various DeFi opportunities, enabling you to participate in different decentralized finance protocols and gain additional benefits from your staked assets.
- Auto compounding: With BNB liquid staking on Stader, your rewards are restaked automatically, delivering even more staking rewards. This auto-compounding of rewards can result in much higher returns in the long run.
- Optimized validator allocation: Liquid staking platforms such as Stader optimize the allocation of staked assets among validators, ensuring effective validation while mitigating risks and maximizing potential benefits for stakers.
Risks associated with staking BNB include:
- Smart contract security: Although the Stader code is thoroughly vetted and audited, there exists a possibility of malicious users exploiting a vulnerability or a bug in the contract or the BNB network
- Wallet and downstream apps: Wallets and third-party apps may have to be used to access staking; users should evaluate the security of the same independently; Stader does not hold any responsibility for the security of the wallets or third-party applications used in staking.
- Slashing: If a validator does not behave according to the guidelines set by the network, they can be at risk of Slashing, which means that they can lose the full or partial amount of tokens if they go against the protocols.
Apart from it, not choosing the right validator and debugging issues could also serve as a risk.
Risks associated with staking BNB include:
- Smart contract security: Although the Stader code is thoroughly vetted and audited, there exists a possibility of malicious users exploiting a vulnerability or a bug in the contract or the BNB network
- Wallet and downstream apps: Wallets and third-party apps may have to be used to access staking; users should evaluate the security of the same independently; Stader does not hold any responsibility for the security of the wallets or third-party applications used in staking.
- Slashing: If a validator does not behave according to the guidelines set by the network, they can be at risk of Slashing, which means that they can lose the full or partial amount of tokens if they go against the protocols.
Apart from it, not choosing the right validator and debugging issues could also serve as a risk.
As per the BNB network, after you send an unstaking request, you must wait 7 days before your BNB is unstaked and ready for withdrawal. This period starts at UTC 00:00 the next day.
Also, the network allows only a single unstaking request per address from a validator every 7 days. So to optimize the wait time, Stader collects all unstaking requests accumulated over a week and sends them once every week. Hence the maximum time you would have to wait would be 15 days (including 7 days of unbonding period).
After an unstake request is successful, an entry is created in the withdraw section with a release time. After the release time passes, the user can withdraw BNB to their respective wallet.
As per the BNB network, after you send an unstaking request, you must wait 7 days before your BNB is unstaked and ready for withdrawal. This period starts at UTC 00:00 the next day.
Also, the network allows only a single unstaking request per address from a validator every 7 days. So to optimize the wait time, Stader collects all unstaking requests accumulated over a week and sends them once every week. Hence the maximum time you would have to wait would be 15 days (including 7 days of unbonding period).
After an unstake request is successful, an entry is created in the withdraw section with a release time. After the release time passes, the user can withdraw BNB to their respective wallet.
You can withdraw BNB by unstaking BNBx. On the Stader dApp, at the Withdraw Section, you will find the release time mentioned. It is the user's local time for active withdrawals, post which the ‘withdraw’ button is activated. Note that the release time is the unstaking time at which the user's unstaking request is successful, including the unbonding time.
You can withdraw BNB by unstaking BNBx. On the Stader dApp, at the Withdraw Section, you will find the release time mentioned. It is the user's local time for active withdrawals, post which the ‘withdraw’ button is activated. Note that the release time is the unstaking time at which the user's unstaking request is successful, including the unbonding time.
BNB staking | BNBx Rewards
What is BNB Token?
BNB, or Binance Coin, is a cryptocurrency created by Binance, one of the world's largest cryptocurrency exchanges. The coin was first launched in 2017 and was initially issued as an ERC-20 token on the Ethereum blockchain, but it eventually migrated to its proprietary blockchain, Binance Chain, in 2019.
BNB is used for various purposes within the Binance ecosystem. For instance, it can be used to pay for trading fees on the exchange, participate in token sales hosted on Binance Launchpad, and more. BNB also powers the Binance Smart Chain, a blockchain platform for creating and executing smart contract-based applications, where it is used for transactions and computational services.
How Does BNB Staking Work?
Staking is like a way to earn rewards by helping to verify and secure transactions on a blockchain network. It involves holding a specific cryptocurrency in a digital wallet and using it to support the network's operations. By doing this, you contribute to the network's stability and security.
In the context of BNB, it involves holding BNB tokens in a suitable wallet and participating in the network's operations.
BNB staking works on the Proof of Stake (PoS) consensus mechanism principle. In this mechanism, the probability of a staker (in this case, a BNB holder) validating a block of transactions is proportional to the amount of BNB they hold and are willing to "stake" as collateral.
When staking BNB, users may earn rewards for their participation in maintaining network security and validating transactions. These rewards often come in the form of additional BNB tokens.
Is BNB worth staking?
Whether or not BNB is worth staking depends on an individual’s willingness to participate in securing the blockchain, risk appetite, and current market conditions.
How can I stake BNB if I'm holding BNB on a Centralized Exchange [CEX]?
To stake your BNB, transfer your BNB from the CEX to a compatible wallet.
Once the BNB is received in the wallet, you can access the Stader’s BNB dApp to initiate the staking process.
What wallets to use for BNB staking?
Several cryptocurrency wallets are available, and the best wallet for you will depend on your personal requirements for holding BNB coins. The most popular cryptocurrency wallets include MetaMask, Trust Wallet, and Ledger Nano X.
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