The world’s largest crypto exchange has announced the launch of an on-chain yield feature on its Binance Earn platform.

According to an official release sent to CryptoPotato, Binance On-chain Yields will enable users to participate in on-chain protocols and earn rewards using their accounts on the crypto exchange.

Binance Announces On-chain Yields With Babylon

The new Binance feature will be kickstarted with the Babylon Bitcoin Staking product on December 10 at 10:00 UTC; however, subscriptions will be made available by 06:00 UTC on December 9. Babylon is a protocol that allows bitcoin (BTC) holders to stake their bitcoins and earn rewards.

Babylon BTC Staking will launch with a limited quota of 1,000 BTC available to users on a first-come, first-served basis. Binance said the minimum and maximum subscription amounts per account are 0.05 BTC and 5 BTC, respectively. Users can earn rewards in the form of Babylon points by staking their bitcoins on the protocol.

To celebrate the launch, users will enjoy an additional 12% in rewards tied to Babylon Cap-3 progress. Babylon Cap-3 refers to the third cap of the protocol’s Phase-1 mainnet scheduled for launch on December 10 and to run for 1,000 blocks on Bitcoin, which is roughly one week.

Binance to Onboard More On-chain Protocols

Binance intends to expand its on-chain yield offerings and is already working with more protocols. The exchange noted that this new feature will simplify access to on-chain protocols, eliminating the need for complex setups.

“Users can explore high-yield opportunities to earn rewards in tokens, points, and more – all directly within the Binance ecosystem. By managing all on-chain protocol integrations and operations, Binance ensures a user-friendly and accessible process for everyone. Users can benefit from flexible redemption options with shorter processing times, enhancing convenience and accessibility,” the crypto trading platform said.

Although Binance believes On-chain Yields provide a good o