Similar to ETH liquid staking, staking rewards are received for delegating BNB to snBNB’s synclub validator. The validator will take its cut from rewards before sharing it to the protocol as claimable tokens. The rewards earned are then split into two parts:
95% goes to snBNB holders in the form of snBNB value appreciation: snBNB holders’ share of the BNB pool keeps increasing due to the increase in the snBNB/BNB exchange rate. 5% goes to Synclub/Helio
The APR for snBNB varies between 0.5%-3%. The APR earned by validators on BNB Chain depends on two factors:
Commission Rate: synclub validator charges 10% commission fee. Voting Power: The staked amount for a validator determines the APR it receives.
The Synclub validator employs MEV (Miner Extractable Value) to enhance its APR. SnBNB appreciates against BNB in line with BNB’s staking APR.
You can use snBNB to explore other use cases such as swapping, lending/borrowing and yield farming on BnbChain. Alongside Helio, PancakeSwap will be supporting new liquid staking strategies for users to maximise utility and yield on BnbChain
No. Staking rewards accrue in the snBNB token. This means that the snBNB token will increase in value over BNB.
Please visit https://www.synclub.io/en/liquid-staking/BNB to unstake your snBNB. PancakeSwap is working to support a conversion contract on our liquid staking page to convert snBNB back to BNB seamlessly.