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Binance Staked SOL (BNSOL) is a liquid staking token developed by Binance to represent staked Solana (SOL) along with accrued staking rewards. BNSOL enables holders to maintain liquidity while earning staking rewards, allowing the token to be traded, lent, or used across Binance products and compatible decentralized finance (DeFi) platforms. Over time, the value of BNSOL increases through a dynamic conversion rate that reflects ongoing SOL staking rewards. [1][3][4][5]
BNSOL provides a flexible alternative to traditional Solana staking, which typically involves locking up assets. Through a daily-updated conversion rate, BNSOL accumulates the value of staking rewards, making 1 BNSOL worth progressively more than 1 SOL as rewards are earned. This structure encourages long-term holding while offering liquidity for diverse use.[1][2][3][6]
BNSOL is a liquid staking solution for Solana’s SOL token, allowing Binance users to stake SOL and receive BNSOL in return. BNSOL represents both the original staked amount and the staking rewards, preserving liquidity and enabling users to engage in DeFi applications, Binance’s products, or external wallets without sacrificing staking rewards.
Holders of BNSOL can:
When users stake SOL in exchange for BNSOL, they receive fewer BNSOL tokens than the amount of SOL initially staked. This adjustment reflects the ongoing value increase from staking rewards, meaning that as rewards accumulate, 1 BNSOL becomes worth more in terms of SOL. Upon redemption, holders receive their original staked amount plus the accrued rewards. [1][3][4][5]
The Annual Percentage Rate (APR) for BNSOL aligns with on-chain staking rewards from the Solana network, which adjusts at each Solana epoch (approximately every 2-3 days). This APR depends on factors like validator performance and network participation. Binance charges a 0% commission fee, distributing rewards to BNSOL holders at the end of each epoch. Staking rewards begin after the first Solana epoch post-staking, with the BNSOL conversion rate updating at each new epoch.
BNSOL holders can redeem their tokens for SOL using two methods:
$189.07
2.94%
$1,188,072,694.00
2.96%
$1,186,051,815.93
2.96%
$8,474,909.05
60.73%
BNSOL
USD
Edited By
Edited On
November 14, 2024
We've just announced IQ AI.
$189.07
2.94%
$1,188,072,694.00
2.96%
$1,186,051,815.93
2.96%
$8,474,909.05
60.73%
BNSOL
USD
Edited By
Edited On
November 14, 2024
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