- Bitget is partnering with Solayer to launch SOL liquid staking with BGSOL.
- BGSOL permits bettors to earn rewards whereas sustaining liquidity.
- The newest yield for BGSOL is roughly 8.15%.
Crypto alternate Bitget has partnered with Solayer, the Solana staking community, to launch liquid staking for Solana (SOL). The brand new service makes use of BGSOL, a token that permits customers to stake SOL with out locking up their property.
With BGSOL, SOL holders can earn stake rewards whereas sustaining the pliability to commerce or lend their property. Not like conventional staking, the place property are locked up, this new service retains customers' funds obtainable for decentralized finance (DeFi) actions, together with buying and selling and lending.
“With BGSOL, Bitget provides customers a extra versatile monetary resolution. By sustaining liquidity whereas incomes rewards, we open up new prospects throughout the DeFi ecosystem,” stated Gracy Chen, CEO of Bitget.
BGSOL: Yield, Alternate Charge and Redemption Particulars
The yield for BGSOL is at present round 8.15%, though it fluctuates relying on market situations and total betting participation on the Solana community.
In the meantime, stake rewards accumulate over time and enhance the worth of BGSOL. As well as, the alternate charge between SOL and BGSOL is up to date each two to a few days, offering customers with full transparency of the evolution of their asset worth.
“BGSOL brings flexibility and innovation to the Solana guess. That is simply step one in constructing a blue-chip infrastructure on Solana,” stated Rachel Chu, co-founder of Solayer.
Customers can alternate BGSOL for SOL at any time, with a four-day processing time relying on community congestion. As soon as the SOL is redeemed, will probably be obtainable within the person's account, though it should not accumulate wagering rewards as soon as the redemption course of has began.
BGSOL joins the rising development of liquid alternate tokens
BGSOL is a part of a broader development in liquid restaking tokens (LRTs) that builds 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 supporting platform operations. With BGSOL, customers contribute to the Bitget ecosystem whereas reaping the advantages of liquidity and staking.
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