$BNSOL Binance Staked SOL (BNSOL) is a liquid staking token issued by Binance on the Solana blockchain. It represents users’ staked SOL while giving them liquidity and continued access to staking rewards.
🔗 Chain Information
Blockchain: Solana
Token Standard: SPL Token
Issuer: Binance
Underlying Asset: SOL (staked on Solana through Binance validators)
Backed By: 1 BNSOL ≈ 1 SOL + staking rewards
Utility: Tradable, redeemable, and usable across Solana DeFi applications
⚙️ How It Works on Solana
1. Users stake SOL through Binance.
2. Binance delegates the SOL to validators on the Solana blockchain.
3. In return, Binance issues BNSOL (an SPL token) to the user’s account.
4. BNSOL can be traded, transferred, or used in DeFi protocols on Solana while continuing to earn staking rewards.
5. Users can redeem BNSOL → SOL (subject to Solana’s unbonding rules).
✅ In short:
BNSOL is an SPL token on the Solana blockchain that merges staking rewards with token liquidity, making it easier for SOL holders to earn yield while staying active in Solana’s DeFi ecosystem.
