Binance launches BNB Vault option enabling passive income

Binance, the cryptocurrency exchange, introduced the BNB Vault product, enabling Binance Coin holders to earn a daily passive income. Representatives told ForkLog.

“BNB Vault is an investment product with guaranteed return of capital and flexible access. It integrates various Binance products to maximise the potential income from your BNB, interacting in a single click with centralized and decentralized finance,” said Binance representatives.

Income from interactions with the BNB Vault service is derived from three sources:

• rewards in tokens of Binance Launchpool projects;
• variable-rate deposits (BNB Flexible Savings);
• rewards from DeFi staking.

Soon users will also earn income from interacting with Binance Smart Chain.

On the product page stated that the current yield of BNB Vault is 5-8% per year.

Back in September, Binance promised to allocate $100 million to support the DeFi ecosystem and ensure its interoperability with centralized services.

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