Binance is excited to introduce its new SOL Staking product. It gives SOL stakers flexible returns and extra benefits. Users can stake their SOL tokens and receive BNSOL, a liquid staking token. BNSOL lets users keep earning rewards while having liquidity.
With Binance SOL Staking, users can stake their SOL tokens and get BNSOL in return. BNSOL is a liquid staking token. This means users can trade, lend, or provide liquidity with it while still earning staking rewards.
It frees up your staked SOL, so you can earn rewards and still use it. You can take part in various Binance and DeFi activities at the same time.
When users stake SOL, they receive BNSOL in their Spot Wallet. The amount is based on the BNSOL
conversion ratio, which changes about every two days.
As you earn rewards, BNSOL’s value goes up compared to SOL. You can swap BNSOL for SOL at the current rate, but it might take about four days to process.
Benifits of Binance’s SOL Staking with BNSOL
Unlock Liquidity: BNSOL lets you use your staked assets for different activities, unlike traditional staking where your assets are locked.
Flexible Redemption: You can exchange BNSOL for SOL anytime or trade it on the spot market.
Earn Rewards: BNSOL’s value increases as you earn staking rewards, giving you ongoing benefits.
One-Click Staking: It’s easy and user-friendly, so anyone can use it.
Diverse Utility: You can use BNSOL for different Binance products and DeFi services, like trading and borrowing.
Trusted Platform: Binance’s strong security and support make staking safe and secure.
Unlike Binance Earn’s locked products and native Solana staking, Binance SOL Staking provides greater flexibility and utility. It features a variable APR and no network fees, making it a preferred option for many users
