Binance launches SOL staking promotion with $160K in rewards and 6% APR
Binance boosts SOL staking rewards
Binance Earn, the passive income platform of the global crypto exchange Binance, has launched a new campaign for Solana (SOL) holders.
The promotion, running from April 2 to April 21, 2025, focuses on SOL staking via Binance, according to the exchange's website. Participants will have the chance to share $160,000 in rewards distributed in SOL and USDC tokens, and compete for additional bonuses, including a $500 USDC voucher—the equivalent of a premium Web3 smartphone—and a 6% Annual Percentage Rate (APR) on staking.
Scoring mechanics and reward distribution
To take part, users must engage with Binance’s SOL staking ecosystem by staking SOL into BNSOL, depositing SOL into Binance, and withdrawing BNSOL to the Binance Wallet. These actions contribute to the “Total BNSOL Score,” which determines a user's position on the leaderboard and their share of the rewards. The top 2,000 participants will split 1,168 SOL and 10 premium Web3 phones. The top 10 will each receive 9 SOL and a $500 USDC voucher, while users ranked from 11th to 2,000th place will receive between 7 and 0.2 SOL based on their position.
Score calculation and additional giveaway
The Total BNSOL Score is calculated using the formula:
Total BNSOL Score = Net BNSOL Staked × SOL Deposit Multiplier × Wallet Withdrawal Multiplier
A 2x multiplier is applied to users who have a net positive SOL deposit or withdraw BNSOL to a Binance Wallet. Otherwise, a 1x multiplier is applied.
Additionally, Binance will host a secondary giveaway for users who maintain a Total BNSOL Score of at least 5 by April 21, 2025. Ten winners will be randomly selected using a BNB Smart Chain hash algorithm and awarded $500 USDC vouchers.
About SOL staking and DeFi integrations
SOL staking on Binance allows users to receive BNSOL tokens in exchange for staked SOL, ensuring both yield and liquidity. These tokens can be used across various Solana-based protocols integrated with Binance Wallet, including Drift, Raydium, Kamino, and others. Users can participate by purchasing SOL via card, Google Pay, Apple Pay, or by depositing directly to their Binance account.
The campaign highlights Binance’s commitment to combining financial incentives with blockchain technology, aiming to increase user participation in staking and DeFi.
Previously, Binance also announced the addition of Starknet (STRK) to its Simple Earn Locked Products section. Through this offering, users can earn up to 29.9% APR by locking STRK tokens for fixed durations during the promotional period.
