The BNB Chain core development team said the move aims to streamline the network and improve efficiency.
BNB Chain said it will enable native liquid staking on its BNB Smart Chain (BSC) as part of its shift to migrate the BNB Beacon Chain’s functions to BSC as the former is wound down.
In an announcement sent to Cointelegraph, BNB Chain noted that the BNB Beacon Chain will be completely shut down by June 2024. However, the company said it will transfer its features to the BSC before it closes.
BNB Chain said that enabling liquid staking on BSC will allow ecosystem participants to secure the network while keeping the liquidity of their assets.