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BETH is a tokenized asset representing Binance uses's staked ETH at a 1:1 ratio, with Binance distributing staking benefits in the form of BETH on a daily basis.
During the lock-up period, which may take 2 years or even longer, users will not be able to redeem their ETH.
As such, Binance have launched the BETH/ETH trading pair as our solution to this liquidity problem.
When ETH 2.0 goes live, users will be able to swap their ETH back based on their BETH holdings.