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The upcoming BNB Chain Fusion is a key development for the BNB Chain ecosystem. This transition will move activities from the BNB Beacon Chain to BNB Smart Chain (BSC), aiming to improve operational efficiency, reduce risks, and better position the network for future growth.
Post-BC Fusion, validators on the BNB Chain can expect enhanced staking opportunities through innovative mechanisms like Maximum Extractable Value (MEV) and Liquid Staking Derivatives (LSDFi).Previously, we shared about: Staking Opportunities Post-BNB Chain Fusion, and
What is LSDFi? The Fusion of Liquid Staking Derivatives and DeFi.
What is Liquid Staking?
Staking is an essential process for securing proof-of-stake blockchain networks such as BNB Chain. It involves locking up tokens as collateral to support the network or smart contracts. Proof-of-stake incentivizes proper behavior among network participants through penalties and rewards, enhancing the network’s security. However, a limitation of traditional staking is that staked tokens are locked and cannot be transacted or used as collateral in the DeFi ecosystem.
Liquid staking services mitigate this issue by creating new tokens that represent a claim on the staked assets. These tokens can be traded or used within DeFi protocols.
For example, ListaDAO operates as a leading open-source platform for liquid staking of BNB. It enables users to stake BNB and receive slisBNB tokens, which represent their staked BNB while remaining liquid for DeFi activities. These staked tokens can then be deposited into other platforms to earn additional yield. Essentially, liquid staking provides liquidity to staked tokens, allowing them to be utilized more dynamically within the DeFi ecosystem.
How to Stake BNB on ListaDAO
Step 1: Connect Your Wallet
- Visit ListaDAO’s BNB liquid staking page and connect your wallet (e.g., MetaMask).
Step 2: Stake BNB
- Enter the amount of BNB you wish to stake and click “Stake”. Confirm the transaction.
Step 3: Receive slisBNB Tokens
- Once confirmed, slisBNB tokens representing your staked BNB will be deposited into your wallet.
Step 4: Manage slisBNB Tokens
- To view your slisBNB balance in your wallet, import the tokens using the contract address: 0xB0b84D294e0C75A6abe60171b70edEb2EFd14A1B.
How to Unstake slisBNB:
Step 1: Initiate Unstaking
- Return to the ListaDAO staking page, click “Unstake”, and enter the amount of slisBNB you wish to unstake.
Step 2: Confirm Unstaking
- Approve and confirm the transaction on MetaMask. Note: Unstaking typically requires a 7-15 day waiting period before BNB can be withdrawn.
Step 3: Withdraw BNB
- Monitor the status of your BNB withdrawal on the withdraw section of the ListaDAO platform.
Step 4: Claim BNB
- Once your BNB has successfully unstaked, click “Claim” and confirm the transaction to complete the process.
Conclusion
Liquid staking on ListaDAO represents a significant advancement in DeFi, offering enhanced liquidity, flexibility, and earning potential for stakers. By participating in liquid staking, users can maximize their engagement with the BNB Chain ecosystem while benefiting from the broader opportunities within decentralized finance. As the space continues to evolve, liquid staking solutions like those offered by ListaDAO will play a pivotal role in reshaping how participants interact with staking and DeFi protocols.
