Cointelegraph reports that Binance has announced the launch of its BNSOL (Binance SOL staking) service, aimed at providing users with a convenient and flexible solution for SOL staking. Upon participation, users will receive BNSOL tokens with liquidity, enabling them to earn staking rewards while also freely utilizing them in various products and services offered by Binance, as well as on external decentralized finance (DeFi) platforms. BNSOL accumulates staking rewards through a specific conversion ratio, and over time, its value is expected to exceed that of an equivalent amount of SOL. Users can redeem BNSOL at any time, supporting both standard redemption methods and market-based trading. This service is compatible with Binance Web3 wallet and integrates with multiple Solana ecosystem projects including Kamino, Drift, and Orca, offering users more diversified options for SOL staking while promoting growth in Solana ecosystem liquidity.