Good news this afternoon has launched DeFi staking and will start with DAI as the first DeFi Staking product at binance. DAI will be used to participate in compound stacking.
The most interesting part of it is that, users can view their own locked staking assets through wallet> saving> DeFi Staking. But remember that when your tokens are locked-up through a DeFi Staking product, you can not longer earn monthly staking rewards.
WHAT YOU NEED TO KNOW ABOUT DeFi STAKING
DeFi means Decentralized Finance. It is a productive was of giving financial services to users through contracts by providing higher annual earnings for specific currencies. DeFi is a merger traditional bank service with Decentralized technology such as blockchain by creating services such as savings and account checking, loans, asset trading, insurance and so on.
DeFi is the fastest growing sector in blockchain that heavily depends on Dapps. All what you need to do to participate in DeFi is your smart phone.
DeFi provides transparency to in a new level to the world. This form of transparency make people have confidence to use DeFi without fear. It is also function in public blockchain such as etherum and all transactions are publicly available.
The reason for this new development was the recent research on unbanked population of about 25% of US households remain unbanked. DeFi is here to stay with us without restrictions. You can do transactions in any part of the world without restrictions.
ADVANTAGES OF DeFi STAKING ON BINANCE
• Easy to use: You don't need to manage private keys, acquire resources, make trades, or perform other complicated tasks to participate in DeFi Staking. Binance's one-stop service allows users to obtain generous online rewards without having to keep an on-chain wallet.
• Guarantee High Earning: DeFi Staking does away with the exorbitant fees that come with trading capital. Users are able to earn the highest possible returns in the best way, while maintaining the same level of risk.
• Your money or assets are save: Binance picked only good and reliable DeFi projects and also monitoring DeFi system in order to reduce the risks associated with such projects.
• Lower risk: one sure thing is that Binance does not want to lose customers and because of that Binance strives to offer users the best and reliable DeFi Staking projects. However, Binance creates platform to showcase projects and provide users with related services.