Binance
Staking · Liquid Staking · wBETH
NetworkStakingLiquid StakingExchange-Native0 coinsAudited
Binance's wBETH is a wrapped, reward-bearing ETH staking token (1 wBETH = 1 BETH plus accrued staking rewards) issued by the exchange's staking service.
Exchange-native wrapped beacon ETH.
Total staked
—
Latest data · 15 min delay
Competitors
Ranked top→bottom — who competes with Binance and how they differ.
| # | Competitor | Positioning | Similarities | Differentiator |
|---|---|---|---|---|
| 1 | Lido (stETH / wstETH) | Dominant decentralized liquid staking protocol on Ethereum, commanding roughly half of the liquid staking market by TVL. | Both provide a liquid staking token representing staked ETH plus accrued rewards that can be used across DeFi. | Lido is a permissionless, non-custodial protocol run by a DAO with a distributed validator set; stETH rebases (wstETH is the wrapped, value-accruing version). WBETH is a single centralized, custodial exchange-issued token with Binance as sole operator. |
| 2 | Rocket Pool (rETH) | The most decentralized major Ethereum liquid staking protocol, using permissionless node operators. | Issues a value-accruing liquid staking token (rETH) that, like WBETH, grows in ETH value rather than rebasing balances. | Rocket Pool is fully non-custodial and permissionless with a decentralized node-operator network and RPL collateral; WBETH is custodial and centrally operated by Binance. |
| 3 | Coinbase (cbETH) | The closest direct analogue: a value-accruing liquid staking token issued by a large centralized exchange. | Both are exchange-issued, custodial, reward-bearing wrapped staking tokens whose exchange rate to ETH rises over time; both target CEX users seeking DeFi portability. | Issued and custodied by Coinbase rather than Binance, so counterparty and regulatory exposure map to a different entity and jurisdiction. |
| 4 | Frax Finance | Hybrid stablecoin pivoting to RWA backing. | Both in Staking (Liquid Staking). | First-mover hybrid algo-collateral stablecoin, now pivoted to RWA-backed frxUSD with BUIDL — an institutional bridge to DeFi. |
| 5 | Ankr | Multi-chain liquid staking and node infrastructure. | Both in Staking (Liquid Staking). | Liquid staking across many chains backed by Ankr's global node infrastructure business. |
| 6 | Mantle | L2-ecosystem ETH liquid staking. | Both in Staking (Liquid Staking). | Backed by the Mantle treasury and tightly integrated with the Mantle L2 ecosystem and its DeFi venues. |
| 7 | Stader Labs | Multi-chain liquid staking infrastructure. | Both in Staking (Liquid Staking). | Multi-chain staking platform with a dual operator-pool design that lowers the bond to run a node. |
| 8 | StakeWise | Permissionless, overcollateralized ETH staking. | Both in Staking (Liquid Staking). | Vault-based architecture where anyone can launch a staking vault; osETH is overcollateralized and protocol-insured. |
| 9 | Swell | Non-custodial liquid staking and restaking. | Both in Staking (Liquid Staking). | LST plus a native restaking roadmap (rswETH / Swellchain) under one non-custodial protocol. |