Crypto News– Helio Protocol has recently introduced a groundbreaking innovation by launching SnBNB Liquid Staking on the widely recognized PancakeSwap platform. This strategic move amplifies staking benefits, offering users an added layer of trust and security.
As revealed in a recent blog post, Helio Protocol‘s unveiling of SnBNB liquid staking on PancakeSwap aims to enrich BNB holders with increased earning and staking possibilities. Functioning as Synclub’s liquid staking token, SnBNB not only yields profits but also mirrors the growth in value corresponding to BNB’s staking APR.
PancakeSwap Adds SnBNB Liquid Staking, Helio Protocol Initiates
Diverging from traditional staking models, wherein assets remain locked within contracts, liquid-staked tokens like SnBNB introduce a realm of flexibility. They can be freely traded or utilized as collateral, thus magnifying yield potential across the DeFi ecosystem.
Synclub’s strategic alliance with the esteemed DeFi entity, Helio Protocol, is a significant development. Together, they embark on the pioneering journey of LSTFi trends, leveraging the power of liquid staking tokens to optimize yield generation for their decentralized stablecoin, HAY.
The process of converting BNB to SnBNB on PancakeSwap is user-friendly and seamless. Commence by navigating to PancakeSwap and connecting your wallet. It is crucial to have BNB available on the BNBChain network for the smooth conversion to SnBNB.
Upon reaching the platform, proceed to the “Earn” section and select “Liquid Staking.” Confirm that the staking pair displayed reads BNB/SnBNB before advancing by clicking “proceed.” Enter the desired quantity of BNB to transform, and witness the equivalent SnBNB amount. By clicking ‘stake,’ the SnBNB token is activated. A simple confirmation transaction within the wallet completes the process, promptly adding SnBNB tokens to your wallet.