BETH price: Huobi Global has now opened BETH trading along with BETH/USDT, BETH/ETH trading pairs.
Reward distribution: BETH earning from ETH 2.0 Staking, which will be distributed on T+1 day according to BETH holdings snapshot. Estimated annualized rate of return is between 4%-20%, which will subject to actual payment.
Confiscation risk bearer: ETH 2.0 pledge exists confiscation risk of some BETH, which is borne by Huobi Global, and users do not need to pay.
Based on ETH 2.0 chain rules, after ETH 2.0 pledge, ETH will be converted into BETH and cannot be retrieved.
Since ETH 2.0 Phase 0 does not support transfer operations, BETH cannot be withdrawn. The opening time for deposit and withdrawal is based on development progress of ETH 2.0, which is expected to be 1-2 years.
BETH transaction & snapshot rules
The exchanged BETH has a 48-hour lock-up period, during which the profit is calculated, but it cannot be traded. In 48 hours after the exchange, BETH will be automatically unlocked and can be traded normally.
BETH is an equity token. If users sell before the snapshot time, they will not receive ETH 2.0 pledge chain rewards.
A snapshot of BETH balance held by the user will be taken at a random time around 24:00 every day, and ETH 2.0 pledge chain reward will be issued to the user currency account on T+1 according to the balance at the time of the user snapshot. Should ETH Beacon chain is abnormal, rewards will be distributed based on the actual situation.
At present, Ethereum is a blockchain network based on proof-of-work POW. Because its mining cost is extremely high and it requires massive resources such as hardware and electricity, it is difficult for ordinary users to participate, thus its centralization degree is getting higher and higher.
Ethereum 2.0, also known as BETH or 'Serenity', is the future upgrade of the Ethereum blockchain. Ethereum 2.0 will be released in multiple 'Phases', the first is the release in 2020 0 (Phase 0). Each stage will improve the functionality and performance of Ethereum in different ways. Staking mining on Ethereum 2.0 requires 32 Ethereum for each node.
Phase 0Beacon Chain 2020
Phase 1Shard Chain 2021
Phase 1.5Merge Ethereum 1.x2021
Phase 2Full Feature 2021
Phase 0 is the genesis phase of ETH2, where beacon chain came into being and became the coordinator which can interact among 64 shard chains created in Phase 1. In Phase 1.5, PoW chain Ethereum 1.X based on proof-of-work mechanism will be merged into ETH2 in the form of a shard chain. In Phase 2, complete functions including smart contracts are implemented.