Helio Protocol has introduced an innovative feature called SnBNB Liquid Staking on PancakeSwap. This new addition allows users to stake BNB and receive SnBNB tokens, which not only provide yield but also appreciate in value alongside BNB’s staking APR. Unlike traditional staking, SnBNB tokens offer flexibility as they can be traded or used as collateral in the DeFi ecosystem.

Stake BNB To Receive SnBNB

The collaboration between Synclub and Helio Protocol aims to pioneer Liquid Staking Tokenized Finance (LSTFi) by optimizing yield production for their stablecoin, HAY. Converting BNB to SnBNB on PancakeSwap is a straightforward process, and users can stake CAKE tokens to earn SnBNB as well.

Liquid staking tokens represent staked assets in a blockchain network and enable users to engage in Proof-of-Stake networks while retaining liquidity. Unlike traditional staking, where assets are locked, liquid staking offers tokenized versions of staked assets that can be traded or used in DeFi platforms.

Expansion of the Liquid Staking Market

For instance, on Wombat exchange, users can supply single token liquidity for SnBNB and potentially earn about 5% APR in $WOM token rewards, alongside SnBNB staking yield. Helio Protocol operates as a decentralized lending and liquid staking platform on the BNB chain, and the introduction of SnBNB pools on PancakeSwap has strengthened its partnership with PancakeSwap.