Smart Money Chooses SOL Liquidity Staking Solution as Head Trading Platform Launches

Bitget, the professional cryptocurrency trading platform, launched BGSOL on October 22, 2024, and introduced a one-month investment activity in the platform’s financial section. BGSOL offers a maximum annualized yield of 30%.
According to market news, top trading platforms such as Binance, Bybit, and Bitget announced the launch of their own SOL liquidity staking tokens in October 2024, entering the Solana liquidity staking race. It appears that the release of liquidity staking tokens like BNSOL and BGSOL has had an impact, as SOL has risen from $135 in early October to over $170. This raises questions as to why these top trading platforms choose to enter this race and what opportunities their liquidity staking solutions can bring to ordinary investors.
Liquidity staking offers new opportunities in the Solana ecosystem
Liquidity staking is a narrative that has emerged in the cryptocurrency industry in recent years. It allows users to reuse staked assets on other blockchain networks or DApps. Liquidity staked assets can meet the demand for Active Verification Services (AVS), expanding the security of the original chain based on the PoS system to more ecological applications.
Platforms or DApps that provide liquidity staking will allocate a portion of their revenue or airdrop rewards to participants in liquidity staking. Liquidity staking also benefits network security and activity, promoting the prosperity of the ecosystem. Therefore, liquidity staking is already a well-established supply-demand market system. Participating in liquidity staking not only contributes to the cryptocurrency ecosystem but also provides participants with the opportunity to earn more profits.


In the past year, Solana has rapidly gathered substantial technical resources and a user base due to its technological advantages and the popularity of the Meme market. It has become one of the most prominent public chain projects. The Solana ecosystem is also rapidly improving, including wallets, DeFi infrastructure, NFTs, and various DApps.
According to SOLSCAN data, the market value of SOL staking in October 2024 has reached $65.7 billion, accounting for 67% of the total market value of SOL. Faced with such a multi-billion-dollar market, the liquidity staking sector naturally becomes a focus of Solana’s ecosystem development in this stage.
Top trading platforms launch SOL liquidity staking solutions
BGSOL (Bitget), bbSOL (Bybit), and BNSOL (Binance) are all liquidity staking tokens that essentially represent liquidity staking solutions launched through the collaboration between exchanges and decentralized staking protocol service providers, with no significant differences in their underlying mechanisms. Considering that Bitget recently announced the launch of BGSOL, we will take BGSOL as an example to introduce the underlying principles and participation methods of such liquidity staking services.


BGSOL is a liquidity staking token and also a more flexible liquidity staking solution launched by Bitget in collaboration with Solayer. Users can obtain BGSOL on the platform through staking SOL or direct purchase of trading pairs.
Participants should note that the exchange ratio between BGSOL and SOL is not 1:1. This is because the underlying value of BGSOL includes two parts: SOL and the basic reward obtained by staking SOL on the chain (currently an annualized yield of around 8%). For example, if a user originally staked 10 SOL to exchange for 9.725 BGSOL, after 1 month, the user can exchange the BGSOL back to approximately 10.06 SOL, with the additional portion being the accumulated on-chain reward.
As mentioned earlier, the biggest advantage of this liquidity staking token is that it not only provides basic on-chain returns but also enables additional rewards through further staking. Bitget launched BGSOL on October 22, 2024, and introduced a one-month investment activity in the platform’s financial section, with a compounded annualized yield of up to 30%.


Interest rates from various platforms as of October 24, 2024
Although liquidity staking tokens on major platforms offer attractive returns, Bitget undoubtedly offers the highest interest rates among investment products currently available in the market.
Some users may also consider other factors, such as asset security or future applications of liquidity staking tokens. In terms of security, Solayer must be mentioned. Solayer is one of the leading projects in the Solana liquidity staking sector, with rich development experience and a focus on maximizing staking rewards, including native SOL staking, MEV-boost, and AVS earnings, among others. By collaborating with Solayer, trading platforms such as Bitget, Binance, and Bybit have established the first line of security for SOL liquidity staking.
Different from liquidity staking service providers such as Solayer, Jito, and Cambrian, the top exchanges provide users with a second layer of financial guarantee based on their emphasis on brand image. For example, when the price of BGB experienced abnormal fluctuations not long ago, Bitget fully compensated all affected users within 72 hours, giving users a strong sense of security.
In terms of application scenarios, there are currently no significant differences among liquidity staking tokens on major trading platforms. However, according to on-chain data, on October 22, a whale address staked 6,653.9 SOL (worth approximately $1.1 million) for BGSOL. Moreover, according to Solayer’s website, the current staking volume of BGSOL has exceeded $18 million, far surpassing BNSOL and bbSOL.


Data source: https://app.solayer.org/dashboard
Based on comprehensive comparisons, it seems that the “smart money” in the market has made its choice.
The expected returns from Solana liquidity staking may be even greater than this
The greatest charm of the crypto world lies in unexpected encounters with wealth, just as early participants in the ETH ecosystem or protocols received various airdrop rewards. The Solana ecosystem still has some distance to go compared to the vast ETH ecosystem, but with the current pace of development in the Solana ecosystem, there will soon be a surge of ecological projects and more potential opportunities.
The layout of Solana liquidity staking by top trading platforms will undoubtedly bring new vitality to the entire ecosystem and provide more application scenarios for their respective SOL liquidity staking tokens based on their resource advantages. At that time, investors can easily convert BGSOL into other liquidity tokens according to their needs and invest in more attractive application scenarios.