Proposal for a Wrapped Beacon ETH ($WBETH) Farm

PancakeSwap Welcomes Wrapped Beacon ETH ($WBETH) to Farm!

Dear CAKE holders, we’re proud to announce a new Farm with Wrapped Beacon ETH!

Binance is now enabling users to stake ETH and obtain a utility token called Wrapped Binance Beacon ETH ("WBETH"), which serves as a liquid representation of their staked ETH.

When you stake ETH via Binance, you will get BETH (representing your staked ETH) as the reward for staking your ETH. Wrapped Binance Beacon ETH ("WBETH") is a wrapped version of BETH.

WBETH is reward-bearing in nature as it accumulates ETH2.0 staking rewards by growing in value in relation to BETH. That means WBETH provides you with double yield potential by holding it to earn staking rewards and exploring exciting DeFi and other Dapps opportunities.

The Farm:

Stake WBETH-ETH LP to earn CAKE tokens!

• Farm duration: 60 days
• Farm multiplier: 2.5x
• Liquidity pair: WBETH-ETH
• Estimated Start time: end-April 2023, after sufficient liquidity for WBETH is present on BNB Chain.

The WBETH-ETH v3 farm will have 5x CAKE rewards for the first 7 days, then 2.5x CAKE rewards for the remaining 53 days. At the end of the 60-day period– the farm will be re-adjusted to a lower or zero multiplier unless the following metrics are comparable with other farms of a similar multiplier: average daily volume, 14-day volume, unique token holders on BNB Chain, and there are no fundamental token issues or concerns related to users’ safety and security.

What is $WBETH?

From the team: “wBETH is a wrapped version of BETH, which represents your staked ETH.

wBETH is accessible on both the Ethereum and Binance Smart Chain networks and can be acquired by participating in Binance's ETH staking program.

As per the WBETH announcement, WBETH on BNB Chain can be obtained by wrapping BETH, and here are a few ways to obtain BETH:

• Stake ETH on the Binance ETH Staking page
• Purchase BETH from the ETH/BETH or BETH/USDT liquidity pool on Binance Swap Farming
• Purchase BETH by completing trades on the BETH/BUSD, BETH/ETH or BETH/USDT trading pairs on Binance Spot.

Thereafter, withdrawing the BETH to the BNB Smart Chain, or to the Ethereum Network, where WBETH will be received on-chain.

With WBETH, you can access various Defi protocols, such as participating in this farm on PancakeSwap, while retaining ETH staking rewards accrued by BETH.

Exchange rate

1 BETH = 1 staked ETH

1 WBETH = 1 BETH+ staking rewards accrued by the BETH tokens. The exchange rate between wBETH and BETH will increase daily, reflecting the staking income generated through Binance's ETH staking program.

How to redeem

Unwrap WBETH tokens in Binance to redeem BETH rewards. Then, you can redeem ETH with your BETH holdings on a 1:1 basis at the ETH staking page on Binance.”

To learn more, visit the following link:

• Binance Announcement
• Binance WBETH Page (only live after 27 Apr 2023 0800 UTC)

⚠️⚠️⚠️BEWARE OF FOOD POISONING⚠️⚠️⚠️💀

The official $WBETH token contract address on BNB Chain is:

https://bscscan.com/token/0xa2E3356610840701BDf5611a53974510Ae27E2e1

​Any other WBETH token will be a scam. Always verify the token address before buying tokens. If you receive a WBETH token airdrop from another address, it’s probably a scam, and we advise you to ignore it.