2024-09-04
On August 29, 2024, Binance launched a liquid staking token for Solana (SOL) called BNSOL. It will be released by the end of September.
This new product allows users to stake
their SOL tokens on Binance and receive BNSOL in return.
Key features of BNSOL:
Dynamic Rewards
BNSOL represents both the staked SOL
and the accumulated staking rewards. The APR adjusts according to on-chain
Solana staking rewards, ensuring competitive returns.
Expanded Liquidity
BNSOL can be used across various DeFi
applications, allowing users to trade, invest, farm, loan, and more.
Flexible Redemption
Users can redeem their BNSOL at any
time, either through a redemption waiting period or instantly by trading BNSOL
on the market.
User-Friendly Process
The staking process is straightforward,
requiring just one click to start earning rewards.
