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Binance Launches Yield Aggregator Dubbed BNB Vault

UTC by Godfrey Benjamin · 3 min read
Binance Launches Yield Aggregator Dubbed BNB Vault
Photo: Shutterstock

The income from the BNB Vault is calculated on a daily basis and earnings are deposited in the investor’s spot wallet.

Major cryptocurrency exchange Binance has launched a yield aggregator dubbed ‘BNB Vault’ aimed at helping existing and prospective investors maximize their earning potentials. According to the BNB Vault page on Binance, the new offering will combine Flexible Savings, BNB Decentralized Finance (DeFi) Staking, as well as Launchpool to give investors the best APY returns.

As Binance stated, the APY is currently pegged at 5% to 8%, and the interest from BNB Vault is distributed directly to investors’ accounts on a daily basis. 

“BNB Vault is a capital-guaranteed investment product with flexible access,” Binance said in the official announcement, “It integrates various Binance products to maximize the income potential of your BNB from both centralized and decentralized finance in just one click, allowing BNB holders to enjoy all the benefits of the Binance ecosystem with one click,” added the company.

A personal review of the product landing page shows the ‘Stake’ button on the left-hand side of the platform and lends credence to Binance own claims that the product is ‘Easy to Stake’. Other notable advantages include a one-click earning of multiple income benefits as well as the flexibility to Unstake whenever the investor so desires.

The income from the BNB Vault is calculated on a daily basis and earnings are deposited in the investor’s spot wallet. The BNB Vault income will begin to accrue interest at 0:00 AM (UTC) on the second day of staking, and the income will be paid on the third day.

BNB Vault Compliments Binance Launchpool Platform

The rate at which decentralized finance products came into the scene this year has prompted traditional Centralized Exchanges (CEXs) to develop innovative means to tag along. Binance has had to adjust to this reality and it now offers a BNB DeFi staking product to enhance the value of the network’s native cryptocurrency while also promoting its Launchpool services to allow its users farm new assets and earn tokens as rewards

The Binance Launchpool platform has seen different digital tokens including but not limited to Alpha Finance Lab (ALPHA) listed on the platform. The coming of the Binance Vault is geared at removing any hassle or stress in investing as they can now aggregate their earnings through the Vault.

With the coronavirus pandemic, several investors are always in search of alternative means to invest their excess funds. While Bitcoin (BTC) is considerably gaining ground amongst investors as a hedge fund against inflation and for asset growth, altcoins particularly ERC-20 tokens built on the Ethereum Network are also seeing increased adoption. With staking and Yield Farming amongst the many offerings around today, anyone with excess funds and with confidence in the potential of cryptocurrencies and tokens can have an alternative way to invest their money. The Binance BNB Vault is now one of such ways.

Altcoin News, Bitcoin News, Blockchain News, Cryptocurrency News, News
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