The second-largest cryptocurrency exchange in the world based on trading volume, Bybit, is excited to announce the ongoing development and expansion of its ground-breaking liquid staking token, bbSOL. bbSOL, Bybit’s first Liquid Staking Token (LST), keeps providing users with an easy, safe option to stake SOL and get lucrative payouts.
The rapid adoption of bbSOL has quickly increased its total locked value to above $100 million USD. In addition to staking benefits, holders of bbSOL may now take advantage of three significant options to increase their earning potential:
- Providing Liquidity to bbSOL Trading Pairs: On decentralized exchanges like Orca, Raydium, and Kamino, users may provide liquidity in return for trading fees.
- Using bbSOL as Collateral: Users may lend, borrow, and unlock better returns by using bbSOL as collateral on partner platforms like as Drift, Kamino, marginfi, and Save.
- Restaking bbSOL to Earn Extra Rewards: Users may restake bbSOL to earn additional rewards while bolstering the security and governance of the Solana network by using partner platforms such as Solayer.
Emily Bao, Head of Spot and Web3 at Bybit added:
“We’re excited to see bbSOL’s continued growth and success. The increasing total locked value demonstrates the trust and confidence our users have in bbSOL as a reliable and rewarding digital asset.”
The fact that bbSOL is available on both centralized and decentralized exchanges confirms its standing as a leading liquid staking token. Bybit is still dedicated to providing cutting-edge products and services that enable consumers to prosper in the digital assets space.
