- BNSOL’s performance solidifies its position as a major participant in the expanding liquid staking ecosystem, with over 4.8 million SOL staked.
- BNSOL has made a name for itself in the Solana liquid staking environment since its launch in September 2024.
Today, Binance, the global blockchain ecosystem that powers the biggest cryptocurrency exchange in the world in terms of users and trading volume, announced an important milestone: Within three months of its inception, BNSOL, its SOL liquid staking token, has topped $1 billion in Total Value Locked (TVL), or more than 10% of the market capitalization of all of Solana’s liquid staking tokens. This accomplishment coincides with the explosive rise of Solana’s liquid staking sector, which now has a $8 billion total market cap. Being the biggest exchange-backed SOL liquid staking token and a favorite among Binance users due to its high returns and wide range of applications, BNSOL’s performance solidifies its position as a major participant in the expanding liquid staking ecosystem, with over 4.8 million SOL staked.
Jeff Li, VP of Product at Binance stated:
“Surpassing $1 billion in Total Value Locked in just three months reflects the tremendous demand for BNSOL. The integration of BNSOL with various products on the Binance platform and DeFi Protocols has been a key driver of adoption for the token, allowing SOL stakers to benefit from the utility on the world’s largest exchange and the Web3 landscape.”
BNSOL has made a name for itself in the Solana liquid staking environment since its launch in September 2024. BNSOL offers users the opportunity to engage in trading, lending, liquidity farming, and collateral usage while taking advantage of low gas fees and zero staking fees until the end of 2024. It is integrated with more than 20 Web3 projects and protocols, including Binance’s centralized exchange and Binance Wallet. Features like APR boosting events, Super Stake airdrops, and platform integration make Binance stand out in the ecosystem as a SOL staking solution and increase its usefulness.
The expansion of Solana’s ecosystem, which has seen its liquid staking ratio more than double in 2024, is directly related to BNSOL’s success. Binance is still dedicated to fostering further innovation and providing customers with cutting-edge staking solutions like BNSOL, even as Solana is branching out into new markets like stablecoins, DeFi, and DePIN.
Lily Liu, President of the Solana Foundation said:
“Liquid staking is a way to connect Binance’s strong community with the vibrant on-chain ecosystems being built on Solana. Binance’s demonstrated commitment to BNSOL and the many ways it has already been integrated into the Binance ecosystem is impressive. We look forward to more opportunities for our strong communities to collaborate.”
Through strategic developments and strong cooperation with the Solana ecosystem, Binance intends to further develop BNSOL’s position in 2025. Additional APR Boost Airdrop Rewards from BNSOL Super Stake, more extensive protocol integrations, and innovative use cases that aim to redefine the possibilities of liquid staking tokens are all anticipated by users.
