According to ChainCatcher, Binance announced the launch of BNSOL (Binance SOL Staking) service. After staking SOL, users can obtain liquid staking tokens BNSOL, which can not only earn staking rewards, but also be used flexibly on Binance products and external DeFi platforms.

BNSOL accumulates staking rewards through conversion ratios, and its value will gradually exceed the same amount of SOL over time. Users can redeem BNSOL at any time, supporting standard redemption and instant market transactions.

In addition, BNSOL is compatible with Binance Web3 wallets and can be integrated with multiple Solana ecological projects such as Kamino, Drift, Orca, etc., aiming to provide users with more SOL staking options while increasing the liquidity of the Solana ecosystem.