This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
Due to popular demand from users, Binance has decided to extend the current promotion for Binance Staked SOL (BNSOL) holders. Users can now continue to stake SOL to BNSOL and get up to 10%* Boosted APR from 2024-10-25 (UTC).
During the Promotion Period, all new and existing BNSOL holders will get up to 10%* in APR.
Extended Promotion Period: Approximately 6 to 8 days from 2024-10-25 (UTC).
Note: *The APR is likely to be between 7% to 10% during the Promotion Period, with fluctuations depending on the Total Value Locked per 2 to 3 days (each epoch). After the Promotion Period, the APR will revert back to the normal rate. Note that staking rewards are not directly distributed to users’ Spot Wallet and are accrued in the value of BNSOL against SOL. Users can also view their staking positions and reward history on the Staking History page. For the latest APR and Conversion Rate, please refer to the Binance SOL Staking page.
How to Get BNSOL:
There are two ways to get BNSOL:
About BNSOL:
Binance Staked SOL (BNSOL) represents your staked SOL plus the staking rewards received, in a tradable and transferable form. Ordinary staking would lock up your staked assets, which means you cannot use them for other purposes – it increases a user's opportunity cost. In contrast, BNSOL provides flexibility to sell, transfer, or use the staked SOL position. You can even move BNSOL to a personal wallet, such as Binance Web3 Wallet and use it outside the Binance platform whilst still earning rewards. BNSOL accumulates staking rewards through the BNSOL:SOL conversion rate, even when it is used in other Binance products or external DeFi applications for additional yield opportunities.
Notes:
Boosted APR Rewards are contributions made by Binance with the express purpose of facilitating promotional activities.
Please refer to Binance SOL Staking Terms and Conditions and Risk Warning prior to using SOL Staking.
The BNSOL:SOL conversion ratio is dynamic and will be updated per Epoch on the Solana network (approximately every 2 - 3 days). The Boosted APR will start from Epoch 689 at approximately 2024-10-25 18:20 (UTC). Users who stake SOL to receive BNSOL during the current Epoch will start enjoying the boosted APR only after the next Epoch refreshes.
Each BNSOL token will accrue SOL Staking rewards every epoch, in accordance with the refreshed APR on SOL Staking. Users can redeem their BNSOL tokens for corresponding on-chain staking rewards in the form of SOL, based on the refreshed BNSOL:SOL conversion ratio.
The redemption period for BNSOL is around four (4) days. Potential processing limitations on the Solana network, such as network failure or congestion, may affect redemptions. In such extreme cases, redemptions may be subject to limitations set by Binance.
Users can refer to the following contract address for BNSOL on Solana Network.
Binance SOL Staking and BNSOL use the original Stake Pool Program maintained by Solana Labs, a framework audited by multiple security firms and validated by various liquid staking token (LST) providers to ensure the total safety of funds.
U.S. persons, entities, and individuals from sanctioned countries will not be able to use Binance SOL Staking. Additionally, users may face access restrictions to Binance SOL Staking due to prevailing product and/or regulatory limitations. For more information, please refer to Binance Terms of Use.
Binance reserves the right to disqualify any participants who tamper with Binance program code, or interfere with the operation of Binance program code with other software.
Binance reserves the right to cancel or amend the Promotion or Promotion Rules at its sole discretion.
Additional promotion terms and conditions can be accessed here.
There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise.
Thank you for your support!
Binance Team
2024-10-24
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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.
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