Orca is proud to support the launch of bbSOL, Bybit’s exchange-based liquidity staking token (LST). bbSOL will serve as a bridge between Bybit’s centralized exchange (CEX) and web3 platforms like Orca, Sanctum, Kamino and Solayer.
BBSOL is live on Orca 🐳
Towards a Composable DeFi Experience
Bybit is a cryptocurrency spot and derivatives exchange with over 45M+ Registered Users in 160 countries. They are the second-largest cryptocurrency exchange in the world, and have onboarded over 10 million users through the Bybit wallet.
Bybit’s LST initiative allows users of Bybit to stake their SOL and receive a liquid token in return, which can be traded or used in other DeFi protocols while still earning staking rewards.
LSTs bring a new level of liquidity and accessibility to the Solana ecosystem, and we’re thrilled to be supporting Bybit in their launch of bbSOL.
By staking Solana on Bybit web3, users receive bbSOL tokens. Users can swap bbSOL 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 offer an additional 2000 ORCA rewards for providing liquidity to the bbSOL/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 Bybit and bbSOL here.
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.
