Binance is thrilled to launch BNSOL—Binance SOL Staking, a new way to earn staking rewards while keeping your SOL tokens liquid. Stake your SOL securely, receive BNSOL in return, and maintain the flexibility to trade, lend, or use your assets across various Binance products and external DeFi platforms.
What is BNSOL?
BNSOL is a liquid staking token representing your staked SOL. Unlike direct staking on the Solana network, which locks assets, BNSOL keeps your SOL liquid. This allows you to earn staking rewards and utilize your staked assets on Binance and integrated DeFi platforms.
Key Features:
- Earn Rewards: BNSOL accumulates staking rewards through its dynamic conversion ratio, allowing you to benefit from SOL staking rewards even while using your BNSOL in other platforms.
- Liquidity and Flexibility: BNSOL offers liquidity, enabling you to trade, lend, or stake on various DeFi platforms while still earning staking rewards.
- Redemption Options: Redeem BNSOL at any time through a standard redemption process with a waiting period or instantly trade BNSOL on the market.
How to Stake SOL and Get BNSOL:
1. Buy or Deposit SOL: Purchase SOL on Binance or deposit it from your wallet.
2. Go to [Earn] > [Simple Earn] > [SOL Staking].
3. Stake SOL: Enter the amount, agree to the terms, and receive BNSOL in your Spot Wallet.
Explore BNSOL on Binance Web3 Wallet & DeFi:
BNSOL is supported on Binance Web3 Wallet, allowing you to explore DeFi platforms like Kamino, Solayer, Drift, Orca, Meteora, and more that have integrated BNSOL.
Important Notes:
- Conversion Ratio: The BNSOL:SOL conversion ratio is dynamic and updated every epoch on the Solana network. This ratio determines the growing value of BNSOL due to accumulated staking rewards.
- Redemption Period: The redemption period for BNSOL is approximately 4 days, subject to Solana network conditions.
- Eligibility: Binance SOL Staking may not be available in all regions due to regulatory restrictions.
Unlock the potential of your SOL assets with BNSOL today!
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