Future

Value

Solana

DeFi

Billion

<p>Binance reached a groundbreaking milestone with its SOL liquid staking token, <strong>BNSOL</strong>, <strong>surpassing $1 billion in Total Value Locked (TVL) within just three months of its launch</strong>. This remarkable achievement establishes BNSOL as a leader in the liquid staking ecosystem for Solana, contributing over 10% of the total market capitalization of Solana’s liquid staking tokens, which now stands at $8 billion.</p>
<p>With over 4.8 million SOL staked, BNSOL’s success reflects its high rewards, seamless integration across Web3 projects, and unique utility features, making it the most popular exchange-backed SOL liquid staking token.</p>
<h2 class="wp-block-heading" id="h-what-sets-bnsol-apart">What Sets BNSOL Apart?</h2>
<p>“Surpassing $1 billion in Total Value Locked in just three months reflects the tremendous demand for BNSOL,” said <strong>Jeff Li, VP of Product at Binance.</strong> “The integration of BNSOL with Binance’s centralized exchange and various DeFi protocols has been a key driver, enabling SOL stakers to maximize their staking potential on the world’s largest exchange while benefiting from the expanding Web3 ecosystem.”</p>
<p>Launched in September 2024, BNSOL has been integrated with over 20 Web3 protocols and projects, including Binance Wallet and liquidity farming platforms. This widespread adoption allows users to stake SOL while participating in trading, lending, and collateral usage. Features like zero staking fees until the end of 2024, Super Stake airdrops, and APR boosting events have further boosted BNSOL’s appeal.</p>
<h2 class="wp-block-heading" id="h-bnsol-s-role-in-solana-s-growth">BNSOL’s Role in Solana’s Growth</h2>
<p>BNSOL’s success is deeply connected to the growth of Solana’s ecosystem, which has seen its liquid staking ratio more than double in 2024. The Solana ecosystem continues to expand into DeFi, stablecoins, and decentralized physical infrastructure networks (DePIN), attracting developers and investors alike.</p>
<p>“Liquid staking is a way to connect Binance’s strong community with the vibrant on-chain ecosystems being built on Solana,” said <strong>Lily Liu, President of the Solana Foundation</strong>. “Binance’s commitment to BNSOL and its innovative integration across platforms has set a benchmark in the staking ecosystem.”</p>
<h2 class="wp-block-heading" id="h-future-plans-for-bnsol">Future Plans for BNSOL</h2>
<p>Looking ahead, Binance plans to enhance BNSOL through strategic innovations and deeper collaborations within the Solana ecosystem in 2025. Users can anticipate expanded protocol integrations, new APR Boost Airdrop Rewards, and cutting-edge use cases for liquid staking tokens that aim to redefine the potential of this technology.</p>
<p>The post <a href="https://www.unlock-bc.com/134929/binance-bnsol-1-billion-tvl/" rel="noopener noreferrer nofollow">Binance’s BNSOL Hits $1 Billion in TVL, Sets Benchmark for SOL Liquid Staking Tokens</a> appeared first on <a href="https://www.unlock-bc.com" rel="noopener noreferrer nofollow">UNLOCK Blockchain</a>.</p>

Binance’s BNSOL Hits $1 Billion in TVL, Sets Benchmark for SOL Liquid Staking Tokens

Table of Contents

UNLOCK_ENG

Other articles published on Dec 20, 2024

Here’s why MOVE rallied 26% as the crypto market tanked

BTC Price: More Shorts Than Longs, Bitcoin Short Squeeze Ahead?

Pi Network developers issue a crucial mainnet launch update

io.net Joins Dell Technologies Partner Program as Authorized Partner and Cloud Service Provider

Metaplanet Accelerates Bitcoin Acquisition With New $31M Bond Issuance

Ex-Celsius CEO Alex Mashinsky Pleads Guilty in Major Crypto Fraud Case

Join our free newsletter for daily crypto updates!