Binance Staked SOL (BNSOL) is a liquid-staking receipt token issued by Binance that represents SOL staked through Binance's staking service on Solana (native SPL token, not a bridged/wrapped instance).
It is minted 1:1 when a user stakes SOL via Binance and can be held, transferred, or redeemed while the underlying SOL remains staked with Binance-operated Solana validators. Its contract address is BNso1VUJnh4zcfpZa6986Ea66P6TCp59hvtNJ8b1X85.
Binance Staked SOL lets holders keep exposure to Solana staking rewards while retaining a liquid, tradable token, rather than locking SOL directly with a validator.
Binance states it absorbs validator slashing losses itself and publishes proof-of-reserves on-chain, shifting operational risk away from holders. As of 2026-08-31, BNSOL's market capitalization is approximately $1.07 billion with about 7,451 on-chain holders; most trading activity occurs on Binance's centralized order books rather than decentralized exchanges.
BNSOL is a utility/yield-bearing token, not a governance token — it carries no voting rights.
Holders use it primarily to earn Solana staking rewards without unstaking: rewards accrue through an appreciating BNSOL:SOL exchange ratio rather than through additional token issuance to holders. BNSOL can also be held, transferred, or traded like any SPL token while the underlying SOL stays staked with Binance-operated validators, and it can be redeemed back to SOL through Binance's staking product.
Circulating and total supply of BNSOL are equal, at approximately 9.2 million tokens as of 2026-08-31, with no separate locked or vesting tranche.
There is no fixed maximum supply cap; new BNSOL is minted on demand as users stake additional SOL, and supply contracts when holders redeem BNSOL back to SOL. Value accrues via an appreciating BNSOL:SOL exchange ratio rather than token-count inflation.
Binance Staked SOL had no ICO, IDO, or public token sale; it launches on demand, minted 1:1 whenever a user stakes SOL through Binance's staking product.
The BNSOL contract was deployed on Solana on 2024-08-26. Binance's public product announcement followed around 2024-09-10, and a BNSOL/SOL trading pair reportedly opened on Binance around 2024-10-10 — several weeks after the on-chain deployment date. No funding round applies, since BNSOL is a staking receipt rather than a project-funding token.
Binance Staked SOL is deployed natively on Solana, which uses Proof of History combined with Proof of Stake consensus.
The underlying SOL represented by BNSOL is staked with validators operated by Binance rather than a decentralized, user-selected validator set; Binance handles validator selection, monitoring, and operations for this staking product.
No individual founders, engineers, or advisors are publicly named for Binance Staked SOL; the token is issued and operated by Binance itself rather than an independent team.
No separate development team or foundation operates alongside Binance for this product.
Binance, the centralized cryptocurrency exchange, issues and maintains Binance Staked SOL as part of its Solana Staking product.
Custody and staking infrastructure are provided through Ceffu, Binance's institutional custody arm. BNSOL is not managed by an independent foundation, DAO, or open-source community — it is a Binance product offered directly through binance.com.
Binance Staked SOL has no on-chain governance token, DAO, or voting mechanism; Binance governs the product unilaterally.
Binance controls validator selection, staking parameters, and product terms directly — for example, it has announced and extended promotional APR boosts on its own initiative.
No dedicated, BNSOL-specific third-party smart-contract audit has been identified. BNSOL is built on Solana Labs' open-source SPL Stake Pool program, which underwent a security audit by Kudelski Security dated 2021-07-07 covering the shared stake-pool infrastructure rather than BNSOL-specific code.
Binance states it publishes on-chain proof-of-reserves, operates its own monitored Solana validators, and absorbs slashing losses itself rather than passing them to holders. No BNSOL-specific bug bounty program was identified, and on-chain DEX liquidity is thin relative to market cap since most trading occurs on Binance's centralized platform.