Binance Extends BNSOL APR Campaign, Offering Up to 10% APR for SOL Stakers
The post Binance Extends BNSOL APR Campaign, Offering Up to 10% APR for SOL Stakers appeared on BitcoinEthereumNews.com.
Darius Baruo Oct 24, 2024 14:47 Binance has extended its BNSOL APR Boost Campaign, allowing SOL stakers to earn up to 10% APR. The extension is due to popular demand and aims to provide additional rewards. Binance, one of the leading cryptocurrency exchanges, has announced an extension of its Binance Staked SOL (BNSOL) APR Boost Campaign. The decision, driven by popular demand, enables users to continue staking SOL to receive BNSOL with an attractive annual percentage rate (APR) of up to 10%, according to Binance. Campaign Extension Details The extended promotion period will commence from October 25, 2024, and is expected to last approximately 6 to 8 days. During this period, both new and existing BNSOL holders can benefit from an APR range between 7% to 10%, subject to fluctuations based on the Total Value Locked (TVL) in each epoch, which updates every 2 to 3 days. Post-promotion, the APR will revert to its standard rate. It is important to note that staking rewards are not directly distributed to users’ Spot Wallets but are accrued in the value of BNSOL against SOL. Participants can monitor their staking positions and rewards through Binance’s Staking History page. Understanding BNSOL BNSOL represents a blend of staked SOL and accrued staking rewards, packaged in a tradable and transferable form. Unlike traditional staking, which restricts the use of staked assets, BNSOL offers flexibility by allowing users to sell, transfer, or utilize their staked SOL in various Binance products and external DeFi applications while still earning staking rewards. Additional Information Boosted APR rewards are contributions made by Binance to enhance promotional activities. Interested parties are advised to review the Binance SOL Staking Terms and Conditions and the Risk Warning before participating in SOL Staking. The BNSOL:SOL conversion ratio is dynamic, updating every epoch on the Solana…
Filed under: News - @ October 24, 2024 5:19 pm