**Binance** recently announced the introduction of **Solana (SOL) Liquid Staking**, a new service that allows users to store their SOL while keeping it liquid at the same time. When you store SOL on Binance, you will receive a token called **BNSOL**, which represents the stored value of SOL as well as the profits generated from staking.
One of the most notable features of this service is that it allows users to leverage their assets more. In traditional staking, assets are locked and cannot be used during the staking period, whereas with BNSOL, users can use tokens to trade, lend, or provide liquidity on decentralized finance (DeFi) platforms, all while still earning profits from staking.
Furthermore, the conversion ratio between SOL and BNSOL is updated regularly, allowing users to redeem their stored assets at any time, although there is a waiting period of up to four days for the redemption to be processed. The profit ratio is determined based on network performance and storage fees, making this method more flexible and versatile than traditional staking.
