This is a general announcement. The products and services described here may not be available in your area.

Dear Binance Community Members,

Binance Introduces BNSOL, SOL Staking Token on Binance. Users can securely stake their SOL tokens and receive BNSOL, a liquid staking token representing their staked assets, in return. BNSOL allows users to continue earning staking rewards while still being able to trade, borrow, and use their assets in various products on Binance and external DeFi platforms.

About SOL Staking on Binance and BNSOL

SOL Staking on Binance allows you to stake SOL tokens and earn liquid staking tokens called BNSOL. Unlike direct native staking on the Solana network, which locks up assets, BNSOL allows you to unlock liquidity, allowing you to trade, borrow, and use your staked assets. Users also receive rewards for staking.

BNSOL allows you to earn staking rewards based on the BNSOL:SOL conversion rate even when used in other products on Binance or external DeFi platforms. Each BNSOL token represents 1 SOL staked plus accumulated staking rewards. Over time, as SOL staking rewards accumulate, the value of 1 BNSOL will gradually exceed 1 SOL. BNSOL can be redeemed at any time through the standard redemption process with a waiting period, or instantly by selling BNSOL on the market.

How to Start Using SOL Staking on Binance

  1. Buy SOL on the spot market or on the Buy Crypto page with a variety of payment methods, including Visa and Mastercard, Apple Pay, Google Pay, and wallet balances. Users can also deposit SOL into their Binance account.

  2. Go to the Earn section, select Simple Earn and click SOL Staking.

  3. Click the "SOL Staking" button.

  4. Enter the stake amount. Read and accept the terms and conditions, click "Confirm" to receive BNSOL to your spot wallet.

Add SOL to Stake and Get BNSOL Today

About BNSOL integration into Web3 wallet and DeFi:

BNSOL is also supported in Binance Web3 Wallet. Users can withdraw BNSOL to their Web3 wallet and explore the capabilities of Solana protocols integrated with BNSOL, such as Kamino, Solayer, Drift, Orca, Meteora, MarginFi, Raydium, Sanctum, Save, Jupiter, and Pyth.

Additional information

Notes

  • Please read Binance SOL Staking Terms and Risk Disclosure before staking SOL.

  • Each BNSOL token will earn SOL staking rewards in each epoch according to the updated APR in the SOL Staking section. Users can redeem their BNSOL tokens and receive the corresponding on-chain staking rewards in SOL according to the updated BNSOL:SOL conversion rate.

  • Detailed information about the BNSOL:SOL conversion rate

    • The BNSOL:SOL conversion rate is dynamic and will be updated at each Solana network epoch (approximately every 2-3 days) starting with epoch 661 on 2024-08-26 09:04 (UTC+3).

    • All BNSOL:SOL conversion rate updates are based on the reference APR for each epoch listed on the SOL Staking page.

    • The staking and redemption functions will be suspended for approximately 10 minutes during the period when the BNSOL:SOL conversion rate is updated after each epoch.

    • The BNSOL conversion rate on the SOL staking page will be rounded to eight decimal places.

  • Binance has opened the possibility of deposits and withdrawals of BNSOL.

  • Users can view their staking positions on the SOL staking page.

  • The BNSOL redemption period is approximately 4 days. Potential processing limitations on the Solana network, such as network outages or congestion, may impact redemption. In these extreme cases, redemption may be limited by Binance.

  • Users can use the following BNSOL contract address on the Solana network:

  • Binance SOL and BNSOL staking uses the original staking pool program powered by Solana Labs. Its design has been audited by multiple security companies and verified by various liquid staking token (LST) providers to ensure complete security of funds.

  • Please note that this project was created at Binance's sole discretion for commercial operations. It does not directly endorse Solana or other related projects, and is not intended to provide financial advice.

  • US individuals and entities, as well as individuals from sanctioned countries, will not be able to use SOL staking on Binance. Additionally, users may face restrictions on accessing SOL staking on Binance due to prevailing products and/or regulatory restrictions. For more information, please refer to Binance Terms of Service.

  • There may be discrepancies between the translation and the original English article. In this case, please read the original version of the announcement to get the most up-to-date and accurate information.

Thanks for support!

Binance Team

12.09.2024