This is a general announcement. Products and services mentioned may not be available in your region.
Hello, Binancian:
Binance is excited to introduce BNSOL: SOL Staking on Binance. Users can securely stake their SOL tokens and receive BNSOL in return, a liquid staking token representing their staked assets. BNSOL allows users to continue earning staking rewards while maintaining the flexibility to trade, lend, or use their assets on various Binance products and external DeFi platforms.
Information on SOL and BNSOL Staking on Binance:
SOL Staking on Binance allows users to stake their SOL tokens and receive BNSOL, a liquid staking token. Unlike direct native staking on the Solana network, where assets are locked, BNSOL allows users to unlock liquidity by giving them the flexibility to trade, lend, or spend their staked assets, all while still earning staking rewards.
BNSOL accumulates staking rewards through the BNSOL:SOL conversion ratio, even when used in other products on Binance or externally on DeFi platforms. Each BNSOL represents 1 SOL staked plus the accumulated staking rewards. Over time, as SOL staking rewards accumulate, the value of 1 BNSOL progressively exceeds that of 1 SOL. BNSOL can be exchanged at any time, either through the standard redemption process with a waiting period or instantly by trading BNSOL on the exchange.
How to start staking SOL on Binance:
Buy SOL on the Spot Market or via the Buy Crypto page, which supports different payment methods such as Visa and Mastercard, Apple Pay, Google Pay, and wallet balances. You can also deposit SOL to your Binance account.
Go to the [Earn] section, select [Simple Earn] and click on [SOL Staking].
Click [SOL Staking].
Enter the amount you want to stake. Read and accept the terms and click [Confirm] to receive BNSOL in the Spot wallet.
Information about BNSOL Web3 Wallet and DeFi integrations:
BNSOL is also supported by the Binance Web3 Wallet. Users can withdraw their BNSOL to their Web3 wallet and explore Solana protocols that have integrated with BNSOL, such as Kamino, Solayer, Drift, Orca, Meteora, MarginFi, Raydium, Sanctum, Save, Jupiter, and Pyth.
Additional information:
Notes:
Please refer to Binance SOL Staking Terms and Conditions and Risk Warning before staking SOL.
Each BNSOL token will accumulate SOL staking rewards in each epoch, according to the updated SOL staking APR rate. Users can redeem their BNSOL tokens for corresponding on-chain staking rewards in the form of SOL, based on the updated BNSOL:SOL conversion ratio.
Details on the BNSOL:SOL conversion ratio
The BNSOL:SOL conversion rate is dynamic and will be updated per epoch on the Solana network (approximately every 2-3 days), starting with epoch 661 on August 26, 2024 at 06:04 (UTC).
All BNSOL:SOL conversion rate updates are dependent on the reference APR rate for each epoch as listed on the SOL Staking page.
The "Staking" and "Redeem" functions will be paused for approximately 10 minutes during the period in which the BNSOL:SOL conversion rate is updated after each epoch.
The BNSOL conversion on the SOL staking page will be rounded to eight decimal places.
Binance has enabled BNSOL deposits and withdrawals.
Users can view their staking positions on the SOL Staking page.
The BNSOL refund period is around 4 days. Possible processing limitations on the Solana network, such as network outages or congestion, may impact refunds. In these extreme cases, refunds may be subject to limitations set by Binance.
Users can check the following BNSOL contract address on the Solana network.
SOL and BNSOL staking on Binance employs the original Staking Pool Program powered by Solana Labs, a framework audited by multiple security companies and validated by several Liquid Staking Token (LST) providers to ensure complete security of funds.
Please note that this project was created at the sole discretion of Binance Business Operations and is not a direct endorsement of Solana or other related projects involved, nor should it be construed as financial advice.
Individuals and entities from the US and sanctioned countries will not be able to use SOL staking on Binance. Additionally, users may face access restrictions due to applicable regulatory and/or product limitations. For more information, please refer to the Binance Terms of Use.
There may be discrepancies between the translated version and the original English version. If there are any discrepancies, please refer to the original version for the most recent or accurate information.
Thank you for your support!
The Binance Team
12/9/2024
