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.

Please note that the underlying staked SOL is delegated to validator nodes on the Solana network. Should a validator underperform, remain offline, or act improperly, the staked SOL may earn reduced or no rewards for the affected period. While the Solana network does not currently enforce automatic protocol-level slashing of principal. Risk Warning.

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.

As such, the APR is variable and not guaranteed. Actual returns fluctuate with overall network staking participation, validator node performance, and the total amount of SOL staked across the network, and may vary from expectations.

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.

In addition, the secondary-market price of BNSOL is determined by market forces and may deviate from the intrinsic conversion ratio above. Under extreme market conditions, these deviations may be larger than expected as highlighted here.

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 BNSOL Reward History 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 Binance SOL Staking 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 Binance SOL Staking 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 Earn Wallet. BNSOL under the redemption process will not reflect any further Staking Reward updates.

Under extreme market conditions or in the event of large-scale concentrated redemptions, redemptions may be delayed or affected. Where necessary, suspension and restrictions on redemption may apply. Binance will do its best endeavor to process large-scale concentrated redemptions to meet the needs of our users.

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

For BNSOL redemption limits, please see the limits within the redemption flow on the SOL Staking product page.

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.

Binance reserves the right to modify any limits in order to meet network, subscription & redemption demands for our users.

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 Earn Wallet.

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.

What are APR Boost Airdrop rewards?

APR Boost Airdrop rewards are additional token airdrops given on top of the base APR from Binance SOL Staking. These APR Boost Airdrop rewards can be either contributions made by Binance or the respective protocol team to Binance with the express purpose of facilitating promotional activities.

*Note: APR Boost Airdrop rewards are subject to prevailing regulatory restrictions and may not be available in your region.

How can I receive the APR Boost Airdrop rewards?

To receive APR Boost Airdrop rewards, hold BNSOL across eligible Binance products or wallets. You can accrue boosted rewards in the form of SOL or other tokens daily and claim them on the Binance SOL Staking page.

For example, if you hold BNSOL today, you can claim the rewards after 05:00 UTC+0 directly to your Spot Wallet.

*Eligible wallets refer to Spot, Funding, Earn, Futures, Margin, and Binance Web3 Wallet. Please note that loan liabilities are not eligible.

How are the tokens from APR Boost Airdrop rewards being calculated?

Your boost reward tokens will be claimable based on the proportion of your BNSOL holding relative to the total BNSOL holding of all users within eligible Binance products and wallets. Snapshots are taken multiple times at any point of the time to determine your daily average balances, which are then used to calculate your rewards. Your rewards will be updated everyday.

If I redeem my BNSOL to SOL, can I still receive the APR Boost Airdrop rewards?

No, the portion of BNSOL you redeem/sell will no longer be entitled to receive the APR Boost Airdrop rewards, even during the redemption lock period.

If I am holding BNSOL on my Binance Web3 Wallet, how do I receive the APR Boost Airdrop rewards?

As long as you are holding BNSOL in your Binance Web3 Wallet, you can claim your APR Boost Airdrop rewards directly on the Binance SOL Staking page.

Currently, DeFi BNSOL Assets only support Binance Web3 MPC Wallet. Users must hold the supported assets in their Binance Web3 MPC Wallet to be qualified for any rewards.

What if I did not claim the APR Boost Airdrop rewards after the campaign ends?

If you did not claim the rewards during the campaign period, your rewards will be automatically airdropped to your Spot wallet after the campaign ends.

What are the risks of staking and holding BNSOL?

Staking and holding BNSOL involves certain potential risks, including but not limited to:

validator performance, reward variability, market and de-peg, liquidity and redemption, protocol / chain, smart contract, and regulatory risks.

Under extreme circumstances, your invested principal may suffer potential losses. Where possible, Binance will do its best endeavours to assist on cases associated with these potential losses. For details, please refer to the Risk Warning.