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$SOL
Binance Staked SOL is a tradable and transferable token that represents your staked SOL plus the staking rewards you earn.
It's a more flexible way to stake SOL on Binance compared to traditional staking, which locks up your assets.
With BNSOL, you can still sell, transfer, or use your staked SOL position even while earning rewards.
BNSOL is essentially a liquid staking product that offers several advantages over traditional staking. Firstly, it provides liquidity to your staked assets, allowing you to use them for other purposes without having to unstake and wait for the cooldown period. Secondly, it offers lower minimum staking requirements compared to traditional staking, making it more accessible to a wider range of users. Finally, BNSOL enhances security by pooling your staked SOL with other users, reducing the risk of downtime or slashing.