Binance Web3 wallet, a self-custody wallet within the Binance app, has introduced two new revenue models: “Yield Plus” and “Simple Yield.”
Binance Web3 wallet, a self-custody wallet integrated inside the cryptocurrency exchange app Binance, unveiled two new revenue models: “Yield Plus” and “Simple Yield.” With these functionalities, users should be able to investigate decentralized finance (DeFi) prospects from within the wallet’s Earn section on multiple channels.
Yield Plus is a new tool that gives users access to projects that offer different degrees of rewards by highlighting those with possible airdrops or additional yield prospects. Eigenpie, Kamino Finance, Lista Dao, Marinade, Ondo Finance, Renzo, StakeStone, and SolBlaze are among the first projects involved.
With Simple Yield, users can earn an annual percentage rate (APR) on stablecoins and other tokens by providing liquidity to lending protocols. Depending on the selected protocol, users may receive both supply APR and distribution APR.
The Binance Web3 wallet, which debuted in November of last year, functions as a go-between for the Binance exchange and Web3, allowing users to interact with a variety of blockchains, earn interest, trade tokens, and investigate decentralized apps (dApps). The wallet uses multi-party computation (MPC) technology, which prioritizes security.
Enhancements to the Binance Web3 Wallet to Provide Smooth Web3 Communication
Since its launch, the wallet has continuously enhanced its functionality to make it easier for users to connect with the Web3 ecosystem.
A number of integrations and improved exchange functions introduced in January now allow users to directly exchange cryptocurrencies within the wallet interface. It now supports fifteen cross-chain bridges and 29 decentralized exchanges (DEX).
In addition to the already-integrated Bitcoin, Bitcoin Cash, Litecoin, Dogecoin, and Sei, the wallet now supports the opBNB and Linea networks. We have also included 19 additional dApps, including 1inch, Alpaca, BinaryX, BiSwap, Compound, Convex, Curve, CyberConnect, Dodo, and Frax Finance.
The Binance Web3 wallet adds support for ERC-404 tokens and unveiled the Inscriptions Marketplace in February. In addition, it now supports new networks, including Scroll, ZKFair, Manta, ZetaChain, and Metis.