Major cryptocurrency exchange Binance is preparing to list Binance Staked SOL (BNSOL). The BNSOL/SOL trading pair will be available for trading on October 10, 2024, at 09:00 (UK time). Through BNSOL, users can benefit from flexible staking advantages and earn additional rewards with an increased annual percentage yield (APR).
How Can Users Access BNSOL?
Binance offers three ways for users to obtain BNSOL:
- Users can stake SOL via the [Earn] > [SOL Staking] section on the Binance platform to receive BNSOL.
- Alternatively, users can convert SOL to BNSOL through Binance Web3 Wallet.
- Finally, those who already own BNSOL can deposit them into their Binance accounts to continue enjoying staking rewards.
In addition to these options, Binance will launch a promotional period starting October 16, 2024, lasting 8 to 10 days. During this time, both new and existing BNSOL holders will be able to earn up to 10% APR.
Benefits of Binance Staked SOL
The staking rewards from SOL will be calculated using the BNSOL conversion rate during the promotion. Users can continue earning rewards even if they move BNSOL outside of the Binance platform, such as transferring it to a Binance Web3 Wallet or exploring additional earning opportunities via external DeFi applications.
What Is Binance Staked SOL?
Binance Staked SOL (BNSOL) is a token that represents staked SOL assets and the rewards earned from staking. Unlike traditional staking methods, where assets are locked and cannot be used for other purposes, BNSOL provides a flexible solution, allowing users to sell, transfer, or utilize their staked SOL in various ways.
BNSOL holders can take advantage of different investment opportunities while continuing to earn staking rewards, enabling simultaneous profit opportunities.
For more updates on investment opportunities, stay tuned to Dey There.
Binance, BNSOL, SOL staking, DeFi
