Bybit’s bbSOL Surpasses $100 Million in Total Locked Value

Bybit, the world’s second-largest crypto exchange by trading volume, is thrilled to announce the continued growth and expansion of its innovative liquid staking token, bbSOL. The rapid adoption of bbSOL has propelled its total locked value beyond 100 million USD in a short span.

As Bybit’s inaugural Liquid Staking Token (LST), bbSOL provides users with a seamless and secure way to stake Solana (SOL) and earn competitive rewards. Beyond staking, bbSOL holders can now explore a range of earning opportunities .

Users can contribute liquidity to bbSOL trading pairs on decentralized exchanges like Orca, Raydium, and Kamino to earn trading fees. Additionally, bbSOL can be used as collateral on partner platforms such as Drift, Kamino, marginfi, and Save to lend, borrow, and unlock higher returns.

In addition to its availability on Bybit Spot, bbSOL has partnered with Jupiter Exchange, Solana’s leading swap aggregator, enhancing liquidity options and making bbSOL more versatile for users looking to trade efficiently within the Solana ecosystem.

Furthermore, bbSOL holders can stake their tokens on platforms like Solayer to generate additional rewards while supporting the Solana network’s security and governance.

“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,” added Emily Bao, Head of Spot and Web3 at Bybit.

As bbSOL’s reach extends across both centralized and decentralized exchanges, it solidifies its position as a premier liquid staking token. Bybit remains committed to offering innovative products and services that empower users to thrive in the digital asset space.