Binance has announced the upcoming addition of Binance Staked SOL (BNSOL) to its suite of financial products, including Binance Simple Earn, Binance Convert, and Binance Margin, offering new opportunities for users to engage with the popular staked asset.
Earn
Starting on October 10, 2024, at 08:00 UTC, Binance Simple Earn will feature BNSOL Simple Earn Flexible Products, allowing users to subscribe and earn rewards by staking their BNSOL holdings. This flexible staking option enables participants to earn yield without locking their assets for long periods.
Convert
Binance Convert will begin offering BNSOL within one hour of its listing on Binance Spot, providing users with the ability to trade BNSOL against BTC, USDT, and other tokens at zero fees. Binance Convert makes it easier for users to swap tokens quickly and seamlessly without worrying about transaction costs.
Margin
For those interested in margin trading, Binance Margin will add BNSOL as a collateral asset on both Cross and Isolated Margin markets, beginning on October 14, 2024, at 08:00 UTC. The platform will also introduce trading pairs for BNSOL/SOL in these markets. Users can leverage BNSOL holdings as collateral while trading, providing greater flexibility and access to capital.
For updated details on marginable assets, collateral ratios, and rates, users are encouraged to refer to Binance’s Margin Data page.
This latest offering marks another step in Binance’s efforts to expand its ecosystem and provide its users with diverse tools to optimize their cryptocurrency strategies.
