Binance announced today that it is preparing to launch Binance Staked SOL (BNSOL) for trading.
The BNSOL/SOL trading pair will be launched at 11:00 AM (UTC) on October 10, 2024. Users will benefit from BNSOL’s flexible staking advantages and earn additional profits through increased annual percentage rates (APR).
How do users obtain BNSOL?
1. The option is to stake SOL through the [Yield] > [SOL Staking] tab on Binance, from which users can earn BNSOL.
2. Users can convert SOL to BNSOL through the Binance Web3 wallet.
3. BNSOL holders can continue to enjoy the event benefits by depositing BNSOL into their Binance accounts on-chain.
In addition, Binance will launch a promotion starting on October 16, 2024, which will last for about 8 to 10 days. During this period, all new and old BNSOL holders will enjoy an annual percentage rate (APR) of up to 10%.
What is Binance Staking SOL?
Binance Staked SOL (BNSOL for short) represents the SOL assets staked by users and the rewards earned from staking. Unlike the traditional staking method of locking assets, BNSOL provides a flexible solution that allows the staked SOL positions to be sold, transferred or utilized in a variety of ways.
BNSOL holders can use these tokens to make a variety of investments while continuing to receive staking rewards. This enables users to pursue multiple profit opportunities simultaneously.
In the long run, this news is good for SOL and the leaders of the SOL chain and MEME, such as JUP, JTO, WIF, BOME, etc.
