• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Binance Introduces New Solana Staking Service with BNSOL Token

user avatar

by Giorgi Kostiuk

10 months ago


  1. How Binance SOL Staking Works
  2. Key Benefits of Binance SOL Staking
  3. Comparing Binance SOL Staking to Other Options

  4. Binance has launched a new SOL Staking service that enables users to stake their Solana (SOL) tokens in exchange for BNSOL, a liquid staking token. This new feature offers Binance users the flexibility to trade, lend, or provide liquidity with their staked SOL, all while continuing to earn staking rewards.

    How Binance SOL Staking Works

    When users stake their SOL tokens on Binance, they receive BNSOL in their Spot Wallet, representing their staked SOL plus accrued rewards. The value of BNSOL increases over time based on the staking rewards, which are updated every Solana epoch (approximately every two days). Users can redeem BNSOL for SOL at the current conversion rate or withdraw BNSOL to external platforms such as the Binance Web3 Wallet. This flexibility enables users to participate in DeFi activities, such as liquidity farming, trading, and borrowing, without losing access to their staked assets.

    Key Benefits of Binance SOL Staking

    1. **Unlock Liquidity**: BNSOL provides liquidity for staked SOL, allowing users to utilize their assets in various financial activities while still earning staking rewards. 2. **Earn Staking Rewards**: The value of BNSOL increases relative to SOL as rewards accumulate, ensuring users benefit from both staking and liquidity. 3. **Flexible Redemption**: Users can redeem BNSOL for SOL at any time or sell it on the spot market, providing easy access to staked assets. 4. **Diverse Utility**: BNSOL can be used across various Binance products and DeFi protocols, enhancing its usability. 5. **One-Click Staking**: The staking process is designed to be simple and accessible, even for beginners. 6. **Trusted Platform**: Binance’s reputation for security and reliability provides confidence for users staking their SOL on the platform. 7. **Security**: The product leverages Solana Labs’ Stake Pool Program, validated by multiple security audits.

    Comparing Binance SOL Staking to Other Options

    | Platform | Utility Token Issued | APR | Network Fees | Quota | Unlock Terms | | --- | --- | --- | --- | --- | --- | | Binance | BNSOL allows for greater flexibility and utility on Binance and Web3 | Dynamic APR | Free | High personal quota | Up to 4 days, or instantly sell BNSOL for SOL on the Spot Market | | Binance | N/A | Fixed APR (depending on Lock Duration) | Free | Personal quota depends on Lock Duration | 30, 60, 90, or 120 days, or instantly unlock your stake but forfeit all accrued rewards | | Solana Wallet | N/A | Dynamic APR | Low network fees | Unlimited quota | Approximately 2 days |

    Users can take part in Binance SOL Staking in three steps: stake SOL and convert it to BNSOL, accumulate staking rewards by holding BNSOL, and redeem BNSOL back for SOL at the current rate. With Binance’s new SOL staking service launching in September, users are encouraged to stay updated on further announcements and prepare for the launch.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Crypto Overview: SUI Prepares for Breakout, CRO Shows Growth, APT and KAS Test Support

chest

Overview of the crypto market where SUI shows signs of breakout, CRO is growing actively, and APT and KAS are at support levels.

user avatarGiorgi Kostiuk

Crypto Market: ETH and CRO Show Growth, BTC Experiences a Decline

chest

In the crypto market, ETH and CRO are on the rise, while BTC and other major assets face pressure. A look at key trends and reforms.

user avatarGiorgi Kostiuk

Pyth Network vs Chainlink: A Detailed Analysis of Differences

chest

Explore key differences between Pyth Network and Chainlink, two important oracles in the DeFi world, in terms of functionality and application.

user avatarGiorgi Kostiuk

WSPN's $WUSD Stablecoin to be Available on Coins.ph

chest

WSPN announces the listing of its stablecoin $WUSD on Coins.ph, opening new opportunities for digital payments in Southeast Asia.

user avatarGiorgi Kostiuk

Ethereum Maintains Leadership Amid Solana's Rapid Growth, According to Fidelity Report

chest

The battle continues between Solana and Ethereum. Fidelity labels Ethereum as a more stable asset despite Solana's swift ascendance.

user avatarGiorgi Kostiuk

Cardano Holders Accumulate 120 Million Coins in Two Weeks

chest

Data shows ADA holders have increased their reserves while engaging in strategic partnerships and following market trends.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.