This is a general announcement. The products and services described here may not be available in your region.
Dear Binance community members,
Binance is pleased to announce the first launch of BNSOL Super Staking in partnership with Binance's partner token - Pyth Network (PYTH), an advanced oracle network.
Users who will hold BNSOL or use SOL to stake BNSOL via a Binance account or Web3 wallet from 02.12.2024 03:00 to 17.12.2024 02:59 (UTC+3) will receive rewards in the form of increased APR airdrops of PYTH.
Rewards in the form of increased APR airdrops of PYTH are an additional airdrop of tokens on top of the base APR for SOL staking on Binance, providing additional income in the form of a higher APR for users.
Super Staking BNSOL Fund Rewards:
How to receive rewards in PYTH
Rewards in the form of increased APR airdrops of PYTH will be available for redemption daily around 08:30 (UTC+3) starting from 03.12.2024.
Eligible users can visit the SOL staking page and click Get Rewards to claim their rewards. Otherwise, rewards in the form of increased APR airdrops of PYTH will be credited to users' spot wallets after the campaign ends on 17.12.2024 at 08:30 (UTC+3).
How to obtain BNSOL
There are three ways to obtain BNSOL:
Go to the 'Earn > SOL Staking' section and click 'Stake SOL'.
Add SOL to staking and receive BNSOL in Binance Web3 wallet.
Buy BNSOL on the spot market, Binance Convert, auto-investing service, or in the Buy Cryptocurrency section.
About BNSOL
Binance Staked SOL (BNSOL) represents your staked SOL plus any rewards earned from staking in a form that is available for trading and transfer. Typically, staking involves locking up the invested assets, which means they cannot be used for other purposes. This increases the user's opportunity cost. In contrast, BNSOL provides opportunities to sell, transfer, or utilize staked SOL positions. You can even move BNSOL to a personal wallet, such as Binance Web3 Wallet, and use it outside the Binance platform while still earning rewards. Staking rewards are accrued based on the conversion rate of BNSOL:SOL - even if BNSOL is used in other Binance products or external DeFi applications for additional profit.
Additional Information
Notes:
Users must complete verification and use SOL to stake BNSOL. All BNSOL in eligible spot wallets, funding wallets, Binance Earn wallets, futures wallets, margin wallets, and Web3 wallets will earn rewards in the form of increased APR airdrops of PYTH.
All holders of BNSOL on Binance, including main accounts and sub-accounts with BNSOL, will be able to receive rewards in the form of increased APR airdrops of PYTH.
Rewards in the form of increased APR airdrops are funds provided by the team of the relevant protocol to Binance with the explicit aim of facilitating promotional activities.
We will take several snapshots of users' BNSOL positions at any given time to calculate their daily average balances and rewards. Users' rewards are calculated based on the snapshot of the previous day and will be updated daily.
The first rewards in the form of increased APR airdrops of PYTH will be available for redemption on 03.12.2024 at 08:30 (UTC+3), and final rewards will be available on 17.12.2024 at 08:30 (UTC+3).
Users will be able to accumulate their rewards and receive them directly in their spot wallets at any time.
Currently, the 'BNB DeFi Assets' feature is only supported by the Binance Web3 wallet based on MPC. Users must hold supported assets in the Binance Web3 wallet based on MPC to be eligible for rewards. Rewards will be available for redemption on the SOL staking page and will be credited to users' spot wallets:
Asset: Binance Staked SOL (BNSOL)
Contract Address: https://solscan.io/token/BNso1VUJnh4zcfpZa6986Ea66P6TCp59hvtNJ8b1X85
Review the terms of SOL staking on Binance and the risk warning before using SOL staking.
The conversion rate of BNSOL:SOL is a dynamic metric and will be updated for each epoch of the Solana network (approximately every 2-3 days). Each BNSOL token will earn rewards for staking SOL in each epoch according to the updated APR in the SOL Staking section. Users can exchange their BNSOL tokens for corresponding on-chain rewards in the form of SOL based on the updated BNSOL:SOL conversion rate.
The redemption period for BNSOL is about four (4) days. Potential processing limitations in the Solana network, such as network failure or congestion, may affect redemption. In such extreme cases, redemption may be subject to restrictions set by Binance. During this period, users will not be able to receive rewards in the form of increased APR airdrops.
Users can use the following BNSOL contract address on the Solana network:
The original staking pool program supported by Solana Labs is used for staking SOL and BNSOL on Binance. Its structure has been audited by several security firms and confirmed by various liquid staking token (LST) providers to ensure the complete security of funds.
Eligibility for participation in BNSOL Super Staking depends on the user's country or region of residence.
Users may face access restrictions to SOL staking on Binance due to prevailing products and/or regulatory limitations. For more information, please review the Binance Terms of Use.
Binance reserves the right to disqualify any participants who interfere with Binance's source code or disrupt the operation of Binance's source code using other software.
Binance reserves the right to cancel and amend the promotion and its rules at its discretion.
Discrepancies may exist between the original English content and any translated versions. Please refer to the original English version for the most accurate information in case of discrepancies.
Thank you for your support!
The Binance Team
28.11.2024
