Binance, a well-known cryptocurrency exchange, is getting ready to add Binance Staked SOL (BNSOL) to its list of tradable assets. Starting from October 10, 2024, at 11:00 AM (UTC), users will be able to trade the BNSOL/SOL pair. By staking BNSOL, users can enjoy flexible benefits and increase their profits through enhanced annual percentage rates (APR).
How Can Users Access BNSOL?
Binance offers three methods for users to acquire BNSOL. The first option is to stake SOL through the [Earn] > [SOL Staking] tab on the Binance platform. This allows users to obtain BNSOL. Another option is to convert their SOL to BNSOL using the Binance Web3 Wallet. Lastly, existing BNSOL holders can deposit their tokens into their Binance accounts to continue enjoying the benefits.
Additionally, Binance will launch a promotional campaign starting from October 16, 2024, which will last approximately 8 to 10 days. During this period, both new and existing BNSOL holders will benefit from an annual yield rate of up to 10% (APR).
What is Binance Staked SOL?
Binance Staked SOL, also known as BNSOL, represents the staked SOL assets and rewards earned by users. Unlike traditional staking methods, where assets are locked, BNSOL provides a flexible solution that allows users to sell, transfer, or utilize their staked SOL positions in various ways.
By holding BNSOL, users can leverage these tokens for different investment opportunities while continuing to earn staking rewards. This enables users to pursue multiple profit opportunities simultaneously.
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Disclaimer: The information provided in this article should not be considered as investment advice. Investors should be aware that cryptocurrencies carry a high level of volatility and risk, and should conduct their own research.
