Bybit, one of the world's leading crypto exchanges, has successfully launched its own SOL-based Liquid Staking Token (LST) called bbSOL. The launch showcased immediate success by reaching $5 million in Total Value Locked (TVL) within 24 hours.
bbSOL Launch and Success
Bybit Web3 announced a renewed Annual Percentage Yield (APY) boost up to 20% for bbSOL starting from September 19. This staking token, available exclusively on Bybit, allows users to access Solana’s growing ecosystem while earning staking rewards on Bybit Web3. Since its launch on September 5, bbSOL has demonstrated massive potential, achieving $5 million TVL in less than a day and continuing to grow.
Benefits of bbSOL
The main benefits of bbSOL include effortless access to CeDeFi through Bybit, no lock-in for funds, and the ability to support Solana’s network decentralization while earning competitive rewards. * Effortless access to CeDeFi through Bybit. * Flexible access to liquidity without the need to lock in funds. * Opportunity to support Solana’s network security and decentralization while earning rewards.
Importance for the Future
Bybit is diligently working to strengthen the bbSOL community. As Emily Bao, Web3 Evangelist at Bybit, notes, the community’s excitement for bbSOL is evident, and more campaigns and earning opportunities are planned for the upcoming months.
The launch of bbSOL by Bybit marks a significant step in bridging centralized and decentralized finance. Users gain the opportunity to diversify their portfolios and support the Solana ecosystem.
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