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- Bitget collaborates with Solayer to launch SOL liquid staking with BGSOL.
- BGSOL permits stakers to earn rewards whereas sustaining liquidity.
- The most recent yield for BGSOL is roughly 8.15%.
Crypto trade Bitget has teamed up with Solayer, a Solana staking community, to launch liquid staking for Solana (SOL). The brand new service makes use of BGSOL, a token that lets customers stake SOL with out locking up their belongings.
With BGSOL, SOL holders can earn staking rewards whereas retaining the pliability to commerce or lend their belongings. In contrast to conventional staking, the place belongings are locked, this new service retains customers’ funds accessible for decentralized finance (DeFi) actions, together with buying and selling and lending.
“With BGSOL, Bitget is providing customers a extra versatile monetary resolution. By sustaining liquidity whereas incomes rewards, we’re opening up new potentialities throughout the DeFi ecosystem,” stated Gracy Chen, CEO at Bitget.
BGSOL: Yield, Trade Charge, and Redemption Particulars
The yield for BGSOL at the moment stands at round 8.15%, although it fluctuates relying on market situations and total 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 updates each two to 3 days, giving customers full transparency on their asset’s worth development.
“BGSOL brings flexibility and innovation to Solana staking. That is simply step one in constructing a blue-chip infrastructure on Solana,” stated Rachel Chu, co-founder of Solayer.
Customers can redeem BGSOL for SOL at any time, with a four-day processing interval relying on community congestion. As soon as redeemed, the SOL might be obtainable within the consumer’s account, although it would now not accumulate staking rewards after the redemption course of begins.
BGSOL Joins the Rising Development of Liquid Restaking Tokens
BGSOL is a part of a broader pattern in liquid restaking tokens (LRTs), 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 Bitget’s ecosystem whereas getting liquidity and staking advantages.
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