Connect with us

Hi, what are you looking for?

How bybits liquid staking token boosts solana ecosystem
How bybits liquid staking token boosts solana ecosystem

Business

Bybit starts BBSOL to change the way solana is staked by making it more liquid

With the start of bbSOL by Bybit, liquid staking is now possible in the Solana ecosystem. This lets users earn benefits while still having access to their assets. This new token makes the Solana network more open, gives users more options, and helps the network grow as a whole.

Bybit has released bbSOL, a liquid staking token built on the Solana blockchain that lets users earn rewards for staking while keeping the worth of their tokens safe. With this new project, token users will be able to better handle their assets without locking them up. This will give them more options for selling and investing. Bybit is working with Sanctum, Kamino Finance, Orca, and Solayer on the start of BBSOL. The goal is to improve Solana’s environment and increase user returns.

When users stake Solana coins on Bybit’s platform, they get BBSOL, which shows how much they’ve made. This approach for liquid staking is similar to ones that have worked well on Ethereum, where liquid staking has grown a lot. With bbSOL, Solana users can now earn passive income, take part in decentralized finance (DeFi) opportunities, and still move their assets around as needed.

Adding bbSOL to Bybit’s services makes its position in the cryptocurrency world stronger. It gives project creators, decentralized platforms, and liquidity providers a way to improve liquidity, bring in new users, and help Solana’s network grow.

author avatar
Alex
Formally freelance blogger Alex is passionate writer with interest in Finance and Business, fascinated about crypto following news and covering stories.
Advertisement

You May Also Like

Cryptocurrency

Amid the financial pressure on many companies to examine Bitcoin, it is estimated that a quarter of the S&P companies will have Bitcoin in...

Uncategorized

Industry experts note that stablecoin regulations and banking access should take priority over cryptocurrency tax reforms in the U.S. Clear laws can encourage mainstream...

Cryptocurrency

Binance has added a new feature that lets users trade directly from CEX to DEX without having to bridge assets or move funds by...

Cryptocurrency

Decentralized finance has transformed our trading, borrowing, and lending. These services are now available to users directly, without middlemen. The popularity of DeFi is...

polkadot
Polkadot (DOT) $ 4.04 1.38%
bitcoin
Bitcoin (BTC) $ 82,428.08 2.65%
ethereum
Ethereum (ETH) $ 1,800.14 3.76%
cardano
Cardano (ADA) $ 0.646938 3.38%
xrp
XRP (XRP) $ 2.05 2.38%
stellar
Stellar (XLM) $ 0.258331 3.27%
litecoin
Litecoin (LTC) $ 82.77 3.16%