This is a general announcement. The products and services mentioned here may not be available in your region.
Dear members of the Binance community!
Binance is pleased to announce the first launch of BNSOL Superstaking with our partner Pyth Network (PYTH), an advanced oracle network.
Users who will hold BNSOL or stake SOL in BNSOL on their Binance account or Web3 wallet from 12/02/2024, 02 :00 (in Kyiv) until 12/17/2024, 01:59 (in Kyiv) will receive rewards increased APR from the PYTH airdrop.
These increased APR rewards from the PYTH airdrop are additional token airdrops and are provided on top of the base APR for staking SOL on Binance, increasing the users' earning APR.
BNSOL Superstaking Reward Pool:
How to claim PYTH rewards:
Increased APR rewards from the PYTH airdrop will be available for claim daily at approximately 07:30 (Kyiv time), starting 12/03/2024.
Eligible users can visit the SOL staking page and click [Receive Rewards] to claim their rewards. Otherwise, these increased APR rewards from the PYTH airdrop will be transferred to users on spot wallets after the campaign ends on 12/17/2024. at 07:30 (Kyiv time).
How to get BNSOL
There are three ways to get BNSOL:
Go to [Earn] > [Staking SOL] and click the [Staking SOL] button.
Stake SOL to BNSOL via Binance Web3 wallet.
Buy BNSOL on the spot market, via conversion, automatic investment or on the page -120>buying cryptocurrencies
About BNSOL:
Binance Staked SOL (BNSOL) represent your staked SOL plus earned staking rewards in a tradable and transferable form. Normal staking locks your assets in staking, meaning you cannot use them for other purposes. This increases the user's opportunity cost. Instead, BNSOL offers the flexibility to sell, transfer or use a staked SOL position. You can even transfer BNSOL to a personal wallet (eg Binance Web3 Wallet) and use it outside of the Binance platform, earning rewards. BNSOLs accumulate staking rewards based on the BNSOL:SOL conversion rate even when used in other Binance products or external DeFi applications for additional earning opportunities.
Articles on this topic:
Notes:
Users must pass identity verification and stake SOL on BNSOL. All BNSOLs in the respective user wallets: Spot, Recharge, Earn, Futures, Margin and Web3 will be eligible to receive the increased APR rewards from the PYTH airdrop.
BNSOL holders on Binance, including master and sub accounts with BNSOL, will be able to receive increased APR rewards from the PYTH airdrop.
Enhanced APR airdrop rewards are contributions made by the respective protocol teams to Binance for the express purpose of promoting promotional activity.
Users' positions in BNSOL will be snapshotted multiple times at any point in time to obtain their average daily balances and calculate rewards. User rewards will be calculated based on the previous day's snapshot and will be updated daily.
The first increased APR rewards from the PYTH airdrop will be available for claim on 12/03/2024. at 07:30 (Kyiv time), and the last rewards will be available on 12/17/2024. at 07:30 (Kyiv time).
Users will be able to accumulate their rewards and receive them directly into their spot wallets at any time.
Currently, BNSOL's DeFi assets are only supported through the Binance Web3 wallet with MPC. Users must store supported assets in their Binance Web3 wallets with MPC to be eligible for rewards. Rewards will be available for claim on the SOL staking page and will be transferred to users' spot wallets:
Asset: Binance Staked SOL (BNSOL)
Contract address: https://solscan.io/token/BNso1VUJnh4zcfpZa6986Ea66P6TCp59hvtNJ8b1X85
Please read Binance SOL Staking Terms and Conditions and Risk Warning before staking SOL.
The BNSOL:SOL conversion rate is dynamic and will be updated every epoch on the Solana network (approximately every 2-3 days). Each BNSOL token will accumulate SOL staking rewards during each epoch according to the updated SOL staking APR. Users can redeem their BNSOL tokens to receive their respective on-chain staking rewards in the form of SOL based on the updated BNSOL:SOL conversion rate.
The BNSOL redemption period is approximately four (4) days. Potential processing limitations on Solana's network, such as network failure or congestion, may affect redemption. In such emergency situations, redemption may be subject to restrictions imposed by Binance. During this period, users will not be eligible for increased APR rewards from airdrops.
Users can link to this BNSOL contract address on the Solana network.
SOL staking on Binance and BNSOL uses the original Staking Pool Program supported by Solana Labs. It is a framework that has been audited by many firms and verified by various Liquid Staking Token (LST) providers to ensure complete security of funds.
Participation in BNSON superstaking depends on the user's country or region of residence.
Users may experience restrictions on access to SOL staking on Binance due to preferred products and/or regulatory restrictions. For more information, please see Binance Terms of Service.
Binance reserves the right to disqualify participants who tamper with Binance code or interfere with Binance code with other software.
Binance reserves the right to cancel or change the promotion or promotion rules at its sole discretion.
There may be differences between this original English content and the translated versions. See the original English version for the most accurate information in case of discrepancies.
Thank you for your support!
Team Binance
28.11.2024
