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BNSOL Secures Binance Listing With Boosted APR Promotion
BNSOL, a token representing staked SOL and staking rewards in a tradable and transferable form on Binance, has recently marked a landmark achievement. The token secured listing on the abovementioned crypto exchange, primarily with enhanced user offerings. This listing has ignited an optimistic torrent for the staked Solana token’s future, as one of the top exchanges extends backing for it.
BNSOL Secures Binance Listing With Boosted APR Promotion
As per an official announcement by Binance dated October 9, the staked Solana and rewards token will be listed and available for trading on the exchange starting October 10 at 08:00 UTC. The trading pair to be listed remains BNSOL/SOL. Further, the exchange revealed vital details on the token’s promotion period and APR (annual percentage rate) in its announcement.
Promotion Period and APR
The promotion period for the token set by the exchange is 8-10 days from October 16 (UTC). Further, all new and existing token holders stand poised to get up to 10% in APR during the promotion period. However, the APR is likely to fluctuate between 8-10% based on the total value locked each epoch, i.e., 2-3 days. Subsequently, the APR will stabilize and revert to normal after the promotion period concludes. One can refer to the exchange’s staking page for further details on the matter.
What Does This Mean for Binance Staked Solana Token?
This announcement by the top crypto exchange has gained substantial traction across the broader industry, bringing noteworthy attention to staked SOL product. Market participants can get the Binance staked Solana token by staking SOL on the exchange’s Web3 wallet and also by navigating to ‘staking SOL’ on the platform’s earn page.
More About The Staked SOL Token
As mentioned above, Binance staked SOL is a token reflecting staked SOL and the staking rewards altogether in a tradable and transferable form. Contrary to ordinary staking that locks assets, the new staked token is aimed at offering users flexibility. Users can sell, transfer, or even move the staked SOL to their personal wallets and use it anywhere apart from the platform.
CoinMarketCap Data
CoinMarketCap data illustrated that BNSOL price today traded at $143, down nearly 1% over the past day. Simultaneously, even SOL price traded at $143, noting a 1% dip, intraday. Nevertheless, renowned crypto influencer BitBoy took to X today, stating, "Big moves are coming in the SOL ecosystem." This announcement further aligns with the abovementioned development, sparking optimism for the broader Solana ecosystem globally.
Recent Development
Meanwhile, in another saga, the crypto exchange also listed Scroll (SCR) recently, underscoring efforts to offer enhanced offerings with crypto project backings.
Conclusion
In conclusion, the listing of BNSOL on Binance, along with the boosted APR promotion, has significant implications for the staked Solana token’s future. The token’s listing and promotion period are expected to attract more users to the platform, thereby increasing the token’s value and adoption. As the Solana ecosystem continues to grow, this development is likely to play a crucial role in its future trajectory.
FAQs
Q: What is BNSOL?
A: BNSOL is a token representing staked SOL and staking rewards in a tradable and transferable form on Binance.
Q: When will BNSOL be listed on Binance?
A: BNSOL will be listed on Binance starting October 10 at 08:00 UTC.
Q: What is the promotion period for BNSOL?
A: The promotion period for BNSOL is 8-10 days from October 16 (UTC).
Q: What is the APR for BNSOL during the promotion period?
A: The APR for BNSOL during the promotion period is up to 10%, with a potential fluctuation between 8-10% based on the total value locked each epoch.
Q: How can I get the Binance staked Solana token?
A: You can get the Binance staked Solana token by staking SOL on the exchange’s Web3 wallet and also by navigating to ‘staking SOL’ on the platform’s earn page.
