Bybit Staked SOL (bbSOL)：The world’s first exchange-backed LST
Security Through Decentralization: Distributing staked assets across multiple nodes reduces the risk associated with the failure of a single validator. Solana’s automated on-chain management system ensures a transparent, efficient, and secure staking process.
Liquidity With Flexibility: With bbSOL, users can engage in other on-chain activities while their assets remain staked.
Higher Yields: The automated system, powered by smart contracts, ensures users' assets are allocated efficiently to various nodes to maximize returns.
Suitable For
Diversified Investments: Users can enhance their portfolio by compounding additional returns from participating in other DeFi projects with bbSOL on top of earning the base yield from staking SOL.
Hope to diversify investment: Participate in Solana on-chain investment through bbSOL, combine basic income with other DeFi project investment income, and expand the users of their own income.
Empowering Solana: Ideal for those who are confident in Solana's potential and want to boost the network’s security and decentralization through staking.
Risk Awareness: For investors who understand and can effectively manage the risks associated with their staked assets.
Operational Mechanism
Stake SOL
The platform distributes the staked SOL tokens across multiple validators to enhance network security and decentralization.
Earn bbSOL (Liquid Staking Token)
By staking SOL, users receive liquid staking tokens, bbSOL, which can be used in various DeFi activities like trading and lending, all while their SOL remains staked.
Yield Calculation
Sanctum's smart contract automatically allocates staked assets to various nodes for optimal rewards, ensuring your bbSOL consistently grows in value. This versatile token can be redeemed for more SOL at any time.
Unstake & Redeem
Users can redeem their bbSOL for SOL tokens at any time. Redemptions up to 400K SOL are processed instantly. For amounts over 400K SOL, there may be a waiting period of 2–3 days as the validator nodes require some time to process the redemption.