BNSOL Beginner's Guide
BNSOL represents the user's liquid staking token for staking on Binance SOL; it can accumulate staking rewards and be used to redeem SOL or participate in certain DeFi activities.
BNSOL What is it
Binance Staked SOL（BNSOL) is a tradable token obtained after the user stakes on Binance SOL to represent the corresponding staked assets. Unlike traditional staking, which requires assets to be locked, holders can retain a degree of liquidity while staking rewards continue to accumulate.
Operation and redemption
After the user stakes on Binance SOL they receive BNSOL, and the corresponding staking rewards accumulate automatically over time. Holders can redeem BNSOL for SOL at the latest exchange rate; evidence indicates that the exchange rate is typically updated every 2 days, but actual redemption may take several days to process.
Uses and considerations
BNSOL can be used in certain DeFi scenarios on the Solana network for trading, lending, or providing liquidity, thereby improving the capital efficiency of staked assets. However, it is not equivalent to SOL that can be withdrawn immediately; before use, pay attention to the exchange rate, redemption waiting period, and specific protocol rules.
Original Tutorial
https://www.binance.com/zh-CN/academy/glossary/bnsol
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