Binance has announced the upcoming listing of Binance Staked SOL (BNSOL), offering users new opportunities and benefits. This token represents staked Solana (SOL) along with staking rewards, making it tradable and transferable on the Binance platform.
BNSOL Gains Listing on Binance with Boosted APR
On October 9, Binance confirmed that trading for the BNSOL/SOL pair will begin on October 10 at 08:00 UTC. This announcement also outlined details about a special promotion period that will run from October 16 for 8-10 days. During this time, both new and existing BNSOL holders can earn up to 10% APR (annual percentage rate). However, the APR will fluctuate between 8-10% based on the total value locked in each staking epoch, typically lasting 2-3 days. After the promotion period ends, the APR will stabilize.
This listing has generated significant attention within the crypto industry, bringing more focus to the staked SOL product. Binance users can acquire BNSOL by staking SOL through the exchange’s Web3 wallet or by navigating to the “staking SOL” section on Binance’s Earn page.
Benefits of Staked SOL Token
Unlike traditional staking, which locks users’ assets, Binance Staked SOL (BNSOL) offers more flexibility. It allows users to trade, transfer, or move their staked SOL to external wallets while still earning staking rewards. This flexibility is designed to provide users with greater control over their assets while participating in Solana staking.
Market Reaction and Industry Outlook
According to CoinMarketCap, BNSOL is trading at $143, down about 1% in the last 24 hours. Solana’s native token (SOL) is also trading at $143, reflecting a similar 1% dip. Despite the slight decline, optimism remains high. Popular crypto influencer BitBoy tweeted, “Big moves are coming in the SOL ecosystem,” hinting at further developments.
This Binance listing aligns with the exchange’s recent efforts to offer more innovative projects and backing, as seen with the recent listing of Scroll (SCR).
