BNSOL Use Cases & Frequently Asked Questions

There are multiple ways to earn with BNSOL. Here are some examples:

Liquidity farming is a popular earning mechanic in DeFi. It involves providing liquidity to decentralized exchanges (DEXs) and earning rewards for doing so.

To start liquidity farming, you’ll need to provide a pair of tokens to a liquidity pool. For example, you can pair BNSOL with another token supported by the pool, such as SOL. Users who swap between the pairs in the pool pay a fee to you as a liquidity provider. However, please take note of the risk of impermanent loss when entering liquidity pools.

Some examples that allow users to farm yields with BNSOL by forming liquidity pool tokens include DEXes, such as Raydium etc.

BNSOL can be leveraged within lending and borrowing protocols to earn yields or enhance capital efficiency. For example, you can use BNSOL as collateral to borrow other assets to enhance capital efficiency on various DeFi protocols on Solana Network.

Structured products and yield aggregators offer advanced DeFi opportunities for optimizing returns on your crypto assets.

BNSOL can be utilized to access these structured yield tokens, allowing you to participate in more complex DeFi strategies.

Restaking means utilizing SOL that has already been staked for additional rewards. In most cases, users can restake natively staked SOL and liquid staked tokens, such as BNSOL, on certain restaking protocols’ smart contracts (such as Solayer). This allows BNSOL to be applied to more applications on the Solana network, while also offering BNSOL holders the opportunity to earn additional rewards.

If you’re looking for simple yields, there’s plenty to find on Binance. You can also head into the decentralized world for more structured products and offerings. As always, make sure to do your own research before investing in a project or product.