- Bitget collaborates with Solayer to launch SOL liquid staking with BGSOL.
- BGSOL permits punters to earn rewards whereas sustaining liquidity.
- The newest yield of BGSOL is round 8.15%.
Crypto trade Bitget has partnered with Solayer, a Solana staking community, to launch liquid staking for Solana (SOL). The brand new service makes use of BGSOL, a token that enables customers to stake SOL with out locking up their belongings.
With BGSOL, SOL holders can earn staking rewards whereas sustaining the pliability to commerce or lend their belongings. In contrast to conventional staking, the place belongings are locked, this new service retains person funds accessible for decentralized finance (DeFi) actions, together with buying and selling and lending.
“With BGSOL, Bitget affords customers a extra versatile monetary answer. By sustaining liquidity whereas incomes rewards, we’re opening up new prospects throughout the DeFi ecosystem,” stated Gracy Chen, CEO of Bitget.
BGSOL: yield, trade fee and redemption particulars
BGSOL's yield presently stands at roughly 8.15%, though it fluctuates based mostly on market circumstances and total staking participation on the Solana community.
In the meantime, staking rewards accumulate over time, growing the worth of BGSOL. Moreover, the trade fee between SOL and BGSOL is up to date each two to a few days, offering customers with full transparency on the progress of the worth of their belongings.
“BGSOL brings flexibility and innovation to Solana staking. That is simply step one in constructing world-class infrastructure on Solana,” stated Rachel Chu, co-founder of Solayer.
Customers can trade BGSOL for SOL at any time, with a processing time of 4 days relying on community congestion. As soon as redeemed, SOL can be accessible within the person's account, though it would now not accrue staking rewards after the redemption course of begins.
BGSOL Joins the Rising Liquid Eating Token Development
BGSOL is a component of a bigger development in liquid takeover tokens (LRT), constructing on the success of Binance's BNSOL and Bybit's bbSOL, additionally developed with Solayer.
This mannequin advantages each particular person customers and exchanges by combining staking rewards with assist for platform operations. With BGSOL, customers contribute to the Bitget ecosystem whereas having fun with liquidity and staking advantages.
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