Charging a battery to 80% instead of 100% benefits the battery by significantly reducing stress on the battery cells, which slows down the degradation process and extends the overall lifespan of the battery by minimizing wear and tear during the charging cycle; essentially, the higher the charge level, the more strain is placed on the battery, so stopping at 80% helps maintain optimal battery health over time.
Reaching full capacity puts considerable strain on the battery's chemical reactions, while staying at a lower charge level like 80% creates less stress.
By minimizing stress, charging to 80% helps to slow down the natural process of battery capacity loss over time.
This slower degradation translates to a longer overall lifespan for your battery.
Personally I've always charged to 100% and don't go below 20% before charging. I benefit from the extra 15% so don't use protect battery setting. It also very useful i guess if you plan to keep your phone for more then 2 to 3 years.