Giant cryptocurrency exchange BinanceBinance is preparing to list Staked SOL (BNSOL). For this, the BNSOL/SOL transaction parity will be opened for trading on October 10, 2024, at 11:00 CEST. With BNSOL, users will be able to benefit from flexible staking benefits and have the opportunity to earn extra profits with an increased annual rate of return (APR).
How Can Users Access BNSOL?
Binance, BNSOL It offers three different options for users who want to obtain it. The first option is Binance [Kazan] > [SOL Staking] SOL will be staking from the tab. users will be able to obtain BNSOL this way. Alternatively, BNSOL can be obtained by converting SOL to BNSOL via Binance Web3 Wallet. Finally, users who already have BNSOL will be able to continue to benefit from the benefits by depositing them into their Binance account.
With all this, Binance will launch a promotion that will last approximately 8 to 10 days starting from October 16, 2024. During this period, all new and existing BNSOL holders receive up to 10 percent annual rate of returnThey will be able to benefit from (APR).
Returns from SOL staked during the promotion period will be calculated with the BNSOL conversion rate. Users will be able to continue earning returns even by moving BNSOL off the Binance platform. For example, users will be able to transfer it to the Binance Web3 Wallet or take advantage of additional earning opportunities in external decentralized finance applications.
What is Binance Staked SOL?
Binance Staked SOL or BNSOL for short, is a token that represents the user’s staked SOL asset and the rewards earned from that staking. In traditional staking methods, assets are locked and cannot be used for any other purpose. However, BNSOL offers a flexible solution, allowing the staked SOL position to be sold, transferred or used in different ways.
BNSOL holders benefit from various investment opportunities using these tokens, while also continuing to earn staking rewards. Thus, transactions can be made within a simultaneous profit opportunity.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
