BNSOL Emerges as Liquid Staking Powerhouse, Surpasses $1B in TVL

Binance's Solana liquid staking token, BNSOL, has achieved a significant milestone, surpassing $1 billion in Total Value Locked (TVL) just three months after its launch.

Binance’s Solana (SOL) liquid staking token, BNSOL, has reached a total value locked (TVL) of $1 billion within three months of its launch.

This figure marks a significant achievement for BNSOL, which now comprises over 10% of Solana’s liquid staking tokens, valued at $9 billion.

BNSOL has also played a crucial role in expanding Solana’s liquid staking ratio, which doubled throughout 2024.

As of March, over 70% of SOL tokens are staked, with liquid staking accounting for about half of the total staked SOL.

BNSOL Emerges as a Force in Solana’s Liquid Staking Landscape

Backed by more than 4.8 million SOL staked, BNSOL has become a prominent player in Solana’s rapidly growing liquid staking sector.

The token emerged as the largest exchange-backed SOL liquid staking token and a favorite among Binance users thanks to its integration across the platform and decentralized finance (DeFi) protocols, enhancing its utility for trading, lending, and liquidity farming.

Launched in September 2024, BNSOL has quickly integrated into over 20 Web3 projects and protocols, including Binance’s centralized exchange and Binance Wallet.

This integration offers users opportunities for trading and collateral use while enjoying low gas fees and zero staking fees through the end of 2024.

Features such as Super Stake airdrops and APR-boosting events have further enhanced its appeal.

Binance attributed the token’s success to its efforts in driving adoption and utility both within and beyond Binance’s ecosystem.

The company highlighted its close partnership with the Solana community and the merging of on-chain ecosystems, which has enabled BNSOL to become a top liquid staking token.

BNSOL’s growth coincides with and contributes to the broader expansion of Solana’s ecosystem, which has seen its total value locked (TVL) in decentralized applications (dApps) grow substantially.

The network has also expanded into areas such as stablecoins, decentralized finance (DeFi), and decentralized physical infrastructure networks (DePIN).

Binance’s focus on supporting users with advanced staking solutions has positioned BNSOL as a leading product within this ecosystem. Looking ahead, Binance plans to build on BNSOL’s success by continuing to work closely with the Solana network.

The company has announced plans for additional APR-boosting airdrops, expanded protocol integrations, and the development of new use cases for liquid staking tokens in 2025.

BNSOL’s rapid rise signals a growing demand for accessible, utility-driven staking solutions. By merging the strengths of Binance’s ecosystem and Solana’s network, the token has set a new standard for liquid staking tokens. And as Solana’s ecosystem continues to evolve, BNSOL’s role in shaping the future of staking is likely to grow.