What is SOL Staking?

SOL Staking involves staking your Solana (SOL) tokens to earn staking rewards.

Binance lowers the barriers for users to stake Solana, by offering a user-friendly liquid staking product that provides liquidity, lower minimum requirements, and enhanced security, making it easier and more convenient to stake SOL.

What is BNSOL and what can I do with it?

Binance Staked SOL (BNSOL) represents your staked SOL plus the staking rewards received, in a tradable and transferable form. Ordinary staking would lock up your staked assets, which means you cannot use them for other purposes – it increases a user's opportunity cost. In contrast, BNSOL provides flexibility to sell, transfer, or use the staked SOL position. You can even move BNSOL to a personal wallet and use it outside the Binance platform whilst still earning rewards. BNSOL accumulates staking rewards through the BNSOL - SOL conversion rate, even when it is used in other Binance products or external DeFi applications for additional yield opportunities.

Why does my APR change and how is the APR calculated?

The SOL staking APR is dynamic and follows the on-chain staking rewards, which update upon each Solana epoch (roughly every 2-3 days) and fluctuate due to various factors including overall network staking participation, the performance of the validator nodes, and the total amount of SOL staked in the entire network. A -- commission fee on the validator APR is charged to ensure product sustainability and reflected in the staking rewards. Rewards are distributed to Binance Solana staking users on a per Epoch basis (approximately every 2-3 days) after the rewards are generated on-chain. Please note that you will not receive any rewards until the first Solana epoch following your subscription, and that the conversion rate will remain the same for the current epoch until the next epoch update.

Why do I get less BNSOL amount than the SOL amount I staked?

Staking SOL into BNSOL does not diminish your SOL balance. Both your SOL and earned rewards can be reclaimed based on the applicable conversion ratio at redemption.

The BNSOL:SOL ratio is not 1:1 because 1 BNSOL represents 1 staked SOL plus the staking rewards since 2024-08-26 06:04 (UTC). Due to the accumulation of staking rewards, the value of 1 BNSOL progressively exceeds that of 1 SOL. The ratio is updated daily to reflect the rewards earned from the staked SOL.

Example*: On 22 September 2024, the BNSOL:SOL conversion ratio was 1:1.01004105. When a user stakes 10 SOL, they would obtain 9.90058770 BNSOL based on the conversion ratio.

SOL staking rewards accumulate, and the user's BNSOL becomes worth more SOL. Three months later, on 23 December 2024, the BNSOL:SOL conversion ratio had grown to 1:1.01980774.

If the user redeems their BNSOL on that day, they would receive 10.09669596 SOL, which includes both their staked amount and the earned rewards.

*The numbers above are for illustrative purposes only. The actual scenario depends on the conversion rate at stake/redeem, the holding period of BNSOL, and on-chain SOL staking APR, etc.

How often does the BNSOL:SOL conversion rate change/update?

Every Epoch on Solana network (approximately 2-3 days) and that the conversion rate will remain the same for the current epoch until the next epoch update.. You can check the timer for the next Epoch on Binance SOL Staking page.

Please note that staking/redemption feature is paused in the period when the BNSOL:SOL conversion rate is being updated (approximately 10 minutes).

Does the conversion ratio change linearly or variably?

BNSOL will increase in value, which is reflected by every update of the BNSOL:SOL conversion ratio. However, the actual value increase at each Epoch is variable, depending on the relevant on-chain SOL staking validator APR.

Do I get rewards accrued in BNSOL bought from the market?

Yes, BNSOL accrues rewards even if it was bought from the market, deposited to an exchange, or obtained from Binance SOL Staking.

When and how will I receive my staking rewards?

Holding BNSOL represents the staked SOL plus the staking rewards. No rewards will be distributed to your Spot Wallet directly. Instead, the rewards earned are accrued and increase the value of BNSOL. This increased value is reflected by the BNSOL:SOL conversion ratio updated every Epoch on the Solana network (approximately 2-3 days). You will be able to check the records of your earned rewards value in SOL on the of Binance SOL Staking page.

Where can I view my staking balance?

Your staked SOL balance can be viewed after logging in to your Binance account and navigating to this page.

Where can I view the record of my staking rewards?

Your cumulative rewards can be viewed after logging in to your Binance account and navigating to this page.

How can I redeem my staked SOL?

BNSOL holders can redeem their BNSOL to SOL based on the applicable BNSOL:SOL conversion ratio at redemption.

Please note that there may be potential processing limitations on the Solana network caused by network failure or congestion, redemptions may be subject to limitations set by Binance.

You can check the delivery date and status for submitted redemption requests in your . BNSOL under the redemption process will not reflect any further Staking Reward updates.

Are there any restrictions on the amount of staked SOL that I can redeem?

There is no restriction on the staked SOL that users can redeem. However, please note that potential processing limitations on the Solana network may arise from network interruption or congestion, and may affect redemptions. In such cases, redemptions may be subject to limitations set by Binance.

If I redeem my BNSOL to SOL, when will I receive the SOL?

Subject to any processing limitations, you should receive the unstaked SOL in your Spot Wallet no more than 4 days after successfully submitting a redemption request. During the waiting period, you can check your redemption status and your frozen BNSOL in your .

However, please note that potential processing limitations on the Solana network, such as network failure or congestion, may affect redemptions. In such cases, redemptions may be subject to limitations set by Binance. Should you need to obtain SOL liquidity immediately, you may trade BNSOL on the Binance Spot Market.

If I redeem my BNSOL to SOL, will I still receive the daily rewards?

No, the portion of BNSOL you redeem/sell will no longer be entitled to receive daily rewards.

What happens if I sell/transfer my BNSOL to someone else?

If you sell/transfer your BNSOL, then your redemption ability for the staked SOL and the corresponding rewards (rewards accrued and future rewards) is transferred to the new holder of the BNSOL.

Once I start a redemption, can I stop it?

No, the redemption process is not reversible once started. However, you can restake or swap the received SOL into BNSOL afterwards on the Binance Spot Market.