Orca is thrilled to support the launch of BNSOL, Binance’s exchange-based liquidity staking token (LST). BNSOL will serve as a bridge between Binance’s centralized exchange (CEX) and decentralized finance applications.
BNSOL is live on Orca 🐳
Towards a Composable DeFi Experience
Binance is the largest cryptocurrency exchange by trading volume, serving 185M+ users across 180+ countries.
Binance Staked SOL (BNSOL) represents staked SOL plus the staking rewards received, in a tradable and transferable form. Where ordinary staking locks up your staked assets (meaning you cannot use them for other purposes), BNSOL provides flexibility to sell, transfer, or use the staked SOL position.
BNSOL can be held in a Solana wallet or on the Binance platform, and can used in other Binance products or external DeFi applications for additional yield opportunities.
Users can swap BNSOL on Orca, as well as participate in liquidity pools (both concentrated liquidity and Splash Pools), contributing to the stability of the LST. The LST tokens can also be used as part of other DeFI protocols or restaking, showcasing the power of Solana’s decentralized and scalable blockchain ecosystem.
A Unique Opportunity for the Orca Community
To celebrate this launch, Orca is providing incentives for the Orca community.
For the next two weeks, Orca will be offering 300 ORCA in daily rewards for providing liquidity to the $BNSOL/SOL pair.
This is an excellent opportunity for LPs (Liquidity Providers) to benefit from increased rewards while contributing to the overall liquidity of this new pool.
Learn more about staking Solana on Binance.
About Orca
Orca is the Solana ecosystem’s most trusted DEX, boasting an impeccable security record with no hacks to date. Renowned for its high usability, Orca features a simple and intuitive UX that caters to beginner, advanced and professional users, making it the go-to choice for anyone looking to engage in DeFi on Solana.
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Disclaimer: The content of this communication is not financial advice and should not be relied on by any persons as financial advice. This communication has not been provided in consideration of any recipient’s financial needs. We have not conducted any financial assessment based on the personal circumstances of any recipients. Before using the protocol, carefully review all relevant documentation and consider risks including total loss of funds.
