# Binance Staked SOL (BNSOL)

> Binance Staked SOL (BNSOL) is a liquid staking token representing staked Solana (SOL) with rewards, maintaining liquidity for trading and DeFi use.

- Canonical URL: https://iq.wiki/wiki/binance-staked-sol-bnsol
- Categories: Cryptoassets
- Created: 2024-11-14T06:08:30.350Z
- Last updated: 2025-07-16T10:51:47.244Z
- Source: IQ.wiki — the world's largest blockchain and crypto encyclopedia (https://iq.wiki)

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**Binance Staked SOL (BNSOL)** is a [liquid staking](https://iq.wiki/wiki/liquid-staking) token developed by [Binance](https://iq.wiki/wiki/binance) to represent staked [Solana (SOL)](https://iq.wiki/wiki/solana-sol) along with accrued [staking](https://iq.wiki/wiki/staking) rewards. BNSOL enables holders to maintain liquidity while earning [staking](https://iq.wiki/wiki/staking) rewards, allowing the token to be traded, lent, or used across [Binance](https://iq.wiki/wiki/binance) products and compatible [decentralized finance (DeFi)](https://iq.wiki/wiki/defi) platforms. Over time, the value of BNSOL increases through a dynamic conversion rate that reflects ongoing [SOL](https://iq.wiki/wiki/solana-sol) [staking](https://iq.wiki/wiki/staking) rewards. [\[1\]](#cite-id-izdkxvhwq6)[\[3\]](#cite-id-j2mhn1l1jq)[\[4\]](#cite-id-watf5vk3zge)[\[5\]](#cite-id-lsmelxm7f)

## Overview

BNSOL provides a flexible alternative to traditional [Solana](https://iq.wiki/wiki/solana) [staking](https://iq.wiki/wiki/staking), which typically involves locking up assets. Through a daily-updated conversion rate, BNSOL accumulates the value of [staking](https://iq.wiki/wiki/staking) rewards, making 1 BNSOL worth progressively more than 1 [SOL](https://iq.wiki/wiki/solana-sol) as rewards are earned. This structure encourages long-term holding while offering liquidity for diverse use.[\[1\]](#cite-id-izdkxvhwq6)[\[2\]](#cite-id-mjoreya08x)[\[3\]](#cite-id-j2mhn1l1jq)[\[6\]](#cite-id-p8ofneisgpj)

### Key Features

BNSOL is a [liquid staking](https://iq.wiki/wiki/liquid-staking) solution for [Solana’s](https://iq.wiki/wiki/solana) [SOL](https://iq.wiki/wiki/solana-sol) token, allowing [Binance](https://iq.wiki/wiki/binance) users to stake [SOL](https://iq.wiki/wiki/solana-sol) and receive BNSOL in return. BNSOL represents both the original staked amount and the [staking](https://iq.wiki/wiki/staking) rewards, preserving liquidity and enabling users to engage in [DeFi](https://iq.wiki/wiki/defi) applications, [Binance’s](https://iq.wiki/wiki/binance) products, or external wallets without sacrificing staking rewards.

Holders of BNSOL can:

* Trade BNSOL on [Binance’s](https://iq.wiki/wiki/binance) marketplace or other platforms where supported.- Transfer BNSOL to personal wallets, maintaining [staking](https://iq.wiki/wiki/staking) reward accrual.- Use BNSOL in [DeFi](https://iq.wiki/wiki/defi) platforms to potentially compound earnings through yield-generating opportunities.- Redeem BNSOL for [SOL](https://iq.wiki/wiki/solana-sol) at any time, either through Binance’s standard redemption process with a waiting period or via direct market trades for immediate liquidity. [\[1\]](#cite-id-izdkxvhwq6)
  When users stake [SOL](https://iq.wiki/wiki/solana-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](https://iq.wiki/wiki/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. [\[1\]](#cite-id-izdkxvhwq6)[\[3\]](#cite-id-j2mhn1l1jq)[\[4\]](#cite-id-watf5vk3zge)[\[5\]](#cite-id-lsmelxm7f)

### APR Calculation

The \[Annual Percentage Rate ([APR](https://iq.wiki/wiki/annual-percentage-rate-apr))]\(<https://iq.wiki/wiki/annual-percentage-rate-apr>) for BNSOL aligns with on-chain [staking](https://iq.wiki/wiki/staking) rewards from the [Solana](https://iq.wiki/wiki/solana) network, which adjusts at each [Solana](https://iq.wiki/wiki/solana) epoch (approximately every 2-3 days). This APR depends on factors like validator performance and network participation. [Binance](https://iq.wiki/wiki/binance) charges a 0% commission fee, distributing rewards to BNSOL holders at the end of each epoch. [Staking](https://iq.wiki/wiki/staking) rewards begin after the first [Solana](https://iq.wiki/wiki/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:

* **Standard Redemption**: Converts BNSOL to [SOL](https://iq.wiki/wiki/solana-sol) with a waiting period.- **Market Redemption**: Allows for immediate conversion by trading BNSOL on the open market. [\[1\]](#cite-id-izdkxvhwq6)[\[2\]](#cite-id-mjoreya08x)[\[3\]](#cite-id-j2mhn1l1jq)[\[6\]](#cite-id-p8ofneisgpj)