Binance has announced that users who stake ETH through Binance will be able to redeem BETH 1:1 starting April 19, 08:00 UTC.
Binance has just announced the withdrawal of Ethereum following its Shapella hard fork upgrade, also known as the Shanghai upgrade, which has seen more than 18 million ETH staked by users since the end of 2020.
Binance said that once a user has submitted a withdrawal request, it cannot be canceled. And the process can be slow at first, taking 15 days to weeks to complete. Users will receive Ether coins redemptioned into the user’s spot wallet and pending BETH tokens locked in pending ETH withdrawal requests will not be eligible for staking rewards.
BETH is a wrapped token issued by Binance, a 1:1 pegged token against ETH on the Ethereum blockchain.
“The expected date for which the ETH redempted by the user will be paid will be announced before the date the user will confirm the withdrawal request. Users can refer to the last updated ETH payout date at Staking History.” Referannouncefrom Binance
Binance has announced that it will offer daily withdrawal quotes for each user. It will also take into account the processing limits on the Ethereum network and the price is subject to change.
source LINK