Solana

Binance, Bybit, and Bitget Partner with Sanctum for Solana LSTs

The partnership between major exchanges like Binance, Bybit, and Bitget with Sanctum for creating Solana Liquid Staking Tokens (SOL LSTs) marks a significant evolution in the DeFi landscape:

- Increased Liquidity: LSTs keep staked SOL liquid, boosting participation in DeFi while earning rewards.

- User Engagement: Exchanges attract users by offering staking rewards and DeFi flexibility through LSTs.

- Revenue Generation: Exchanges gain new revenue from fees on LST transactions and staking activities.

- Network Security: Staking through LSTs enhances Solana's security by increasing total staked SOL.

- Innovation in Staking: LSTs enable seamless swaps and reduce staking fragmentation in Solana's ecosystem.

- Market Expansion: Partnerships with Sanctum drive growth and user adoption in Solana's DeFi space.


This collaboration not only benefits the exchanges and Sanctum but also enhances the utility and attractiveness of Solana's ecosystem.