2024-04-26
The core development team of the BNB Chain has announced plans to streamline the network and improve efficiency.
As part of this initiative, BNB Chain will introduce native liquid staking on its BNB Smart Chain (BSC), while transitioning the functions of the BNB Beacon Chain to BSC.
The BNB Beacon Chain will be completely shut down by June 2024, but its features will be transferred to the BSC before the closure.
Enabling liquid staking on BSC will allow participants in the ecosystem to secure the network while maintaining the liquidity of their assets.
Although a specific date for the rollout of this feature has not been provided, BNB Chain anticipates it will happen in April or May.
The BNB Chain core development team stated that this move to BSC is aimed at streamlining the network, improving efficiency, reducing security risks, and meeting current technological demands.
Additionally, it is part of the company's growth plans to make the BNB Chain more appealing to users.
With the introduction of liquid staking, users will be able to engage in decentralized finance activities without compromising the utility of their assets.
They will have liquid staking tokens that represent their staked crypto assets.
Holders of BNB can delegate their tokens to a liquidity pool or directly to a validator.
This not only rewards BNB stakers but also enhances the security of the BNB Chain network, providing increased flexibility and options for staking BNB.
Furthermore, the BNB Chain development team mentioned that liquid staking and the optimization of maximum extractable value (MEV) for the BNB Chain will be implemented concurrently.
Validators with MEV enabled will have the opportunity to enhance their staking returns through MEV revenue, which will be factored into Liquidity Staking rewards.
