SOL Staking involves staking your Solana (SOL) tokens to earn staking rewards.
A simple passive income product that provides liquidity, lower minimum requirements and improved security, making placing SOL easier and more convenient.
Binance Staked SOL (BNSOL) represents your SOL plus received stake rewards, in tradable and transferable form.
A typical term would lock in your invested funds, meaning you can't use them for other purposes – increasing the opportunity cost of the user. In contrast, BNSOL provides the flexibility to sell, transfer or use an invested SOL position. You can even move BNSOL to a personal wallet and use it outside the Binance platform while still earning rewards. BNSOL accumulates investment rewards through the BNSOL - SOL conversion rate, even when used in other Binance products or external DeFi applications for additional return opportunities.
Investing SOL in BNSOL does not reduce your SOL balance. Both your SOL and rewards earned may be refunded based on the applicable redemption conversion ratio.
The BNSOL:SOL ratio is not 1:1 because 1 BNSOL represents 1 invested SOL plus investment rewards as of 08/26/2024 06:04 (UTC). Due to the accumulation of investment rewards, the value of 1 BNSOL progressively exceeds the value of 1 SOL. The ratio is updated daily to reflect rewards earned from invested SOL.
