- Bitget collaborates with Solayer to launch SOL Liquid Staking with BGSOL.
- BGSOL permits stakers to earn rewards whereas sustaining liquidity.
- BGSOL's newest yield is round 8.15%.
Cryptocurrency trade Bitget has partnered with Solana staking community Solayer to launch liquid staking of Solana (SOL). The brand new service makes use of BGSOL, a token that enables customers to stake SOL with out locking up their property.
BGSOL permits SOL holders to earn staking rewards whereas sustaining the pliability to commerce and lend their property. In contrast to conventional staking, the place property are locked, this new service permits customers' funds to entry decentralized finance (DeFi) actions reminiscent of buying and selling and lending.
“With BGSOL, Bitget affords customers extra versatile monetary options. By sustaining liquidity whereas incomes rewards, we’re opening up new potentialities throughout the DeFi ecosystem,” mentioned Bitget. CEO Gracy Chen mentioned.
BGSOL: yield, trade fee and redemption particulars
BGSOL's yield is at the moment roughly 8.15%, however will fluctuate relying on market situations and staking participation throughout the Solana community.
In the meantime, staking rewards accumulate over time, rising the worth of BGSOL. Moreover, the trade fee between SOL and BGSOL is up to date each 2-3 days, giving customers full transparency on the evolution of their asset worth.
“BGSOL brings flexibility and innovation to Solana staking, and that is simply step one in constructing nice infrastructure on prime of Solana,” mentioned Rachel Chu, co-founder of Solayer. states.
Customers can redeem BGSOL for SOL at any time, however the processing interval is 4 days, topic to community congestion. As soon as redeemed, SOL will likely be out there within the person's account, however staking rewards will now not accumulate after the redemption course of begins.
BGSOL joins the rising development of liquid reacquisition tokens
BGSOL is a part of a broader development in liquid restaking tokens (LRTs), constructing on the success of Binance's BNSOL and Bybit's bbSOL, which have been additionally developed with Solayer.
This mannequin advantages each particular person customers and exchanges by combining staking rewards with assist for platform operations. BGSOL permits customers to contribute to the Bitget ecosystem whereas having fun with the advantages of liquidity and staking.
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