Binance’s Solana liquid‑staking token BNSOL has crossed a major threshold of 10 million SOL staked. This equates to roughly $1.79 billion in Total Value Locked (TVL) as of August 1. In just one year since its launch, BNSOL has garnered the trust of more than 180,000 Binance users and clients, Binance announce in an X post on Friday.
Launched in September 2024, BNSOL surged past the $1 billion TVL mark in just three months, by December 2024, capturing over 10% of Solana’s liquid staking ecosystem. With over 4.8 million SOL staked early on, the token quickly became the largest exchange‑backed Solana liquid staking vehicle, according to Binance.
Post‑$1 billion milestone, BNSOL continued scaling aggressively. By mid‑2025, it reached $1.79 billion in TVL, nearly doubling staked value in under six months and drawing hundreds of thousands of users into Solana’s staking space.
What makes BNSOL popular?
BNSOL is usable on the Binance exchange, in the Binance Wallet, and through more than 20 Web3 protocols and liquidity projects, enabling trading, lending, and liquidity farming access. Users didn’t have to pay staking fees until the end of 2024, when the rule changed. Moreover, Incentives like APR‑boosts and airdrops like the “Super Stake” events which further encouraged staking and retention.
Trends boosting Solana staking
Solana’s staking ecosystem expanded sharply through 2024 as total liquid staking ratios more than doubled. As DeFi, stablecoins, gaming, and decentralized infrastructure (DePIN) grew on Solana, the appeal of staking SOL increased, especially through liquid staking that retains flexibility while earning rewards.
Total Value Locked (TVL) is a core metric in crypto and DeFi. It measures the total dollar value of digital assets, such as ETH, SOL, and stablecoins, that users have deposited or staked in a platform’s smart contracts. High TVL generally means many users trust a protocol and have committed significant assets, signaling confidence and adoption.
BNSOL’s success shows that people want staking that’s both useful and built right into major exchanges. It has become a leading standard in Solana’s liquid staking space. Looking ahead to 2025, BNSOL is set to grow even more, thanks to APR-boost promotions, deeper integration with DeFi apps, and Solana’s expanding ecosystem. All of this is helping BNSOL lead the way in making staking accessible and flexible.