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Binance has announced the addition of Binance Staked SOL (BNSOL) to its suite of financial products that includes Binance Simple Earn, Binance Convert, and Binance Margin, giving users new opportunities to interact with the popular staked asset.
Starting on October 10, 2024, at 11:00 AM, Binance Simple Earn will offer BNSOL Simple Earn Flexible Products, allowing users to subscribe and earn rewards by staking their BNSOL assets.
This flexible staking option allows participants to earn returns without locking up their assets for long periods of time.
Binance Convert will begin offering BNSOL within an hour of its listing on Binance Spot, allowing users to exchange BNSOL for BTC, USDT, and other tokens with zero fees.
Binance Convert makes it easy for users to swap tokens quickly and seamlessly without worrying about transaction costs.
For those interested in margin trading, Binance Margin will be adding BNSOL as a collateral asset to both the Cross and Isolated Margin markets starting at 11:00 AM on October 14, 2024.
The platform will also offer trading pairs for BNSOL/SOL in these markets. Users can use their BNSOL holdings as collateral when trading, providing greater flexibility and access to capital.
This latest offering marks another step in Binance’s efforts to expand its ecosystem and offer its users a variety of tools to optimize their cryptocurrency strategies.
*This is not investment advice.