Bybit Launches stETH to ETH Redemption with Zero Fees

DUBAI, UNITED ARAB EMIRATES / ACCESSWIRE / July 18, 2023 / Bybit, the world’s third most visited crypto exchange, is taking its Ethereum Liquid Staking service to the next level. Starting today, users can redeem their staked Ether tokens (stETH) for ETH on a 1:1 basis with zero fees.

Bybit’s Ethereum Liquid Staking service offers users an exceptional opportunity to earn up to 7% APR. The stETH tokens accrue steady rewards from the Ethereum network and can be later exchanged back to the original capital plus interest.

Bybit also enables clients to use stETH as trading collateral for maximum capital efficiency. Leveraging the potential of staked assets allows traders to explore a world of next-level opportunities.

Naturally, the generous APR is accrued regardless of whether or not it’s used for trading. Bybit is also offering additional earning possibilities through stETH-collateralized loans, enabling clients to put their assets to work in further financial activities.

“With Bybit’s Ethereum Liquid Staking and stETH redemption service, users gain access to a seamless and user-friendly ecosystem, which provides both passive income and active trading opportunities,” said Vivien Fang, head of financial products at Bybit. “We are committed to empowering our users with the best tools and features, and the introduction of stETH redemption is yet another step towards achieving that goal.”

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SOURCE: Bybit