Bybit has announced the launch of bbSOL, the world’s first exchange-backed liquidity staking token on the Solana blockchain. This token enables users to stake their Solana (SOL) on Bybit's Web3 platform and receive bbSOL tokens in return.
Initiative Partners
Bybit partnered with several key players: Sanctum ensures deep liquidity for SOL swaps, Orca facilitates bbSOL swaps and liquidity provision, Kamino Finance automates liquidity management, and Solayer supports bbSOL as a liquid staking token.
Asset Management via bbSOL
According to Bybit CEO Ben Zhou, bbSOL is designed to streamline asset management and maximize returns for token holders, developers, decentralized exchange operators, and liquidity providers. bbSOL holders can receive passive income, participate in network governance, and access a broader range of financial opportunities.
Benefits for the Solana Ecosystem
This initiative strengthens Solana’s security and liquidity, benefiting the entire ecosystem.
The launch of bbSOL on the Bybit platform creates new opportunities for users, enabling both more flexible asset management and the strengthening of the Solana ecosystem.
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