Crypto exchange Bybit has announced new opportunities to enhance yields for holders of its token bbSOL through strategic partnerships with various platforms.
Bybit's New Partnerships
Bybit, the second-largest cryptocurrency exchange globally by trading volume, announced the initiative on November 15. The partnership includes integration with platforms such as RateX, marginfi, and Save to boost yield opportunities for bbSOL. These partnerships provide access to synthetic yield farming and other financial tools.
Strengthening bbSOL
Bybit aims to strengthen bbSOL dominance through collaboration with leading Solana lending and borrowing protocols, such as Save and marginfi. Together, these DeFi protocols bring a total of $900 million in liquidity to bbSOL. According to DeFiLlama, Save has a TVL of $506 million, while marginfi's TVL is approximately $478 million.
Availability on Bybit
bbSOL is available across eight DeFi projects on Solana and is increasingly being adopted within centralized finance products on Bybit. Users can convert over 300 crypto assets on the exchange into bbSOL, enhancing its accessibility.
Bybit's expansion of its partnerships demonstrates the exchange's commitment to strengthening bbSOL's position and increasing its accessibility to users, providing new yield opportunities through strategic DeFi platforms.
