Users stake ETH through Binance and receive wBETH, a liquid ERC-20 token. The token does not rebase: its exchange rate against ETH rises as staking rewards accrue, so each wBETH is redeemable for more than 1 ETH over time.

Wrapped Beacon ETH (wBETH), also called Binance Staked ETH, is a liquid staking token issued by Binance on Ethereum and BNB Chain.

Binance issues and manages wBETH, the liquid staking token for its ETH staking service. Binance takes a service fee from the staking rewards earned by the staked ETH.

Wrapped Beacon ETHwBETH