Solana holders can earn extra yield by staking SOL on Binance. You receive BNSOL tokens representing your stake.
Register on Binance and download the Binance app.
Staking Steps
Ensure SOL is in your spot account > App > Earn > search SOL > find SOL staking > enter amount > confirm > receive BNSOL.
What Is BNSOL?
A liquid staking token representing your SOL stake. Unlike locked staking, BNSOL is tradable and usable in DeFi. Its value gradually exceeds SOL as staking rewards accumulate (e.g., 1 BNSOL = 1.02 SOL).
Yield
Typically 5-8% APY from Solana network staking rewards, reflected in BNSOL's rising value.
Redemption
Instant: Sell BNSOL on the market (possible small slippage). Standard: Request unstaking via the staking page, wait 1-4 days (no slippage).
Note
SOL price volatility may far exceed staking yield. Best for long-term SOL holders wanting extra returns.