StaFi recently added Binance Smart Chain to the list of blockchains covered in its liquid staking solution. That means anyone looking to stake BNB on the BSC can do so using StaFi’s staking contract.
What Is rBNB?
This is the BNB staking derivative. The rToken is issued to those who stake BNB through the StaFi staking contract.
It’s okay to query the need to use the StaFi staking contract when you can delegate your assets to validators on the BSC. However, some perks come with opting for this bypass: you don’t have to wait weeks to unstake your BNB. And you can sell off the rBNB anytime you wish.
How’s rBNB Different From BNB?
You get rBNB when you stake BNB through the StaFi staking contract. While one (rBNB) is a staking derivative, the other (BNB) is the Binance token.
The actual value of the rBNB takes into account that of BNB and the reward accumulated from staking. For instance, if the price of BNB on the market is $375, and the reward earned so far from staking 1 BNB is $5, then the value of rBNB should be $380.
rBNB takes away the unknown when from staking. You don’t have to navigate reward biases and the timeline for unstaking. Many consider rBNB as a get-out-of-jail card without wasting time.
What Is The rBNB App?
To stake BNB using the StaFi staking contract, the rBNB app is the route to follow. Through the rBNB app, you can stake your BNB tokens without having to decide on the validator to delegate your assets to.
rBNB app makes BNB staking as uncomplicated as ever, so users are motivated to stake their BNB through its rAPP.
Using The rBNB App
rBNB is the 7th addition to a growing array of staking derivatives introduced by StaFi. The rBNB app is the channel through which you stake your BNB on the Binance Smart Chain.
Accessing the rBNB app has to be done through your dapp browser. Once you visit the StaFi dapp, reaching its rBNB section is the next step. And it’s relatively easy.
Besides the rBNB app being the portal for staking and unstaking of BNB, it’s the gateway for the issuance of rBNB tokens. Once you have staked your BNB tokens through the rBNB app, you will get the rBNB equivalent. Since the rtoken is a staking derivative, you will stack up rewards, resulting in an rBNB token that has a higher price tag than BNB.
Unstaking On rBNB App
As earlier highlighted, you can unstake your BNB directly from the rBNB app. To unbound your staked BNB, it takes about 14 days. While it does seem like a lot of time, you can easily sell off the rBNB issued whenever you wish and recoup your capital plus the reward gained.
The Benefit Of The rBNB App
With the rBNB app, you can navigate the liquidity situation of the Binance Smart Chain. You can get your asset quickly, which is something you’d appreciate along the line.
Using the rBNB app compounds your rewards automatically, removing the need to rely on yield aggregators. Don’t ignore the De-Fi integration of the entire process. It’s the StaFi masterstroke as not many liquid solutions bring De-Fi into the mix.
Conclusion
StaFi has added rBNB to its list of liquid staking solutions. The Substrate-based protocol relies on its product, the rBNB app to fix such a niggling problem. Will StaFi tackle such a notorious nightmare through a wave of the wand-type solution? Let’s hope so.
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