16 Key Uses for bbSOL on Bybit: Trade, Lend and Earn With Flexibility
Traditionally, staking SOL has forced users to choose between earning rewards or maintaining liquidity. Bybit's bbSOL eliminates this trade-off through liquid staking, allowing users to earn yields while actively trading, lending and exploring opportunities within decentralized finance (DeFi).
In this guide, we'll explore 16 powerful use cases for bbSOL across Bybit's centralized finance (CeFi) products and Solana's DeFi protocols. By the end of it, you'll understand how to leverage your SOL for maximum returns while maintaining complete control of your staked SOL assets.
Key Takeaways:
bbSOL is a liquid staking token that represents staked SOL on Bybit, enabling users to earn continuous rewards while retaining the flexibility to trade, lend and earn across Solana DeFi protocols and the Bybit ecosystem.
Explore the 16 key uses for bbSOL on Bybit and learn how you can trade, lend and earn with flexibility today!
What Is bbSOL?
Bybit Staked SOL (bbSOL) is Bybit's exchange-backed liquid staking token representing staked SOL, enabling users to earn continuous rewards while retaining the flexibility to trade, lend and earn across Solana DeFi protocols and the Bybit ecosystem.
How Does bbSOL Work?
bbSOL operates via the following simple three-step process that makes SOL staking accessible to everyone.
Step 1: Staking
Users stake their SOL with Bybit or Bybit Web3 to receive bbSOL tokens at a 1:1 ratio. As a liquid staking token (LST), bbSOL functions as your receipt for staked SOL, allowing you to maintain liquidity while staking. The process requires a minimal 0.1% SOL deposit fee, with zero management fees or validator commissions.
Step 2: Earning
Hold bbSOL to earn an 8.82% APY that automatically compounds with each Solana epoch (every two to three days). Earnings are reflected in bbSOL's increasing exchange rate against SOL, so that your bbSOL will become worth more SOL over time. The growing rate incorporates base staking rewards, MEV earnings and trading fees, without requiring manual claims.
Step 3: Redemption
Maintain complete flexibility with your staked assets through instant unstaking options. You can redeem your bbSOL for SOL at any time to receive your initial stake and accumulated rewards, with no additional fees. However, users should consider potential slashing penalties from validator misbehavior, and natural fluctuations in bbSOL's value relative to SOL.
8 CeFi Key Uses for bbSOL on Bybit
Experience the full potential of bbSOL through Bybit's comprehensive suite of centralized finance products, as follows.
Unified Trading Account (UTA)
Trade Spot, Futures and Options from a single account through Bybit's Unified Trading Account system. The platform's account-level margin system enables users to leverage multiple cryptocurrencies as collateral while maintaining centralized portfolio management.
Choose between Isolated, Cross and Portfolio Margin modes to match your risk preferences. The UTA system optimizes capital efficiency by allowing unrealized profits to be used as margin, and letting profits and losses from different derivatives offset each other.
Spot Trading & Spot Margin Trading
Trade bbSOL through multiple market pairs on Bybit's Spot exchange. The BBSOL/USDT pair offers up to 10x leverage for enhanced trading opportunities. Additional pairs include BBSOL/USDC for stablecoin liquidity, and BBSOL/SOL for direct conversions between staked and unstaked tokens.
On-Chain Earn
Effortlessly stake SOL with Bybit On-Chain Earn to receive bbSOL — with no technical expertise or hardware required. The platform manages all complexities, including node operations, gas fees and reward distribution, for a streamlined staking experience.
Access staking with minimal capital, and diversify earnings through various DeFi strategies, airdrops and innovative on-chain opportunities, all while contributing to blockchain security and decentralization.
Flexible Savings
Deposit idle assets into Bybit's Flexible Savings to earn daily yield distributions with the freedom to withdraw anytime. The platform offers competitive, tiered APR rates and additional rewards through APR Boosters from Bybit Rewards Hub.
Users can manually reinvest their daily yields or activate the Auto-Savings feature for qualified deposits for optimal returns. Interest rates are structured in tiers, with higher deposits typically earning adjusted APR rates.
Launchpool
Participate in new token launches by staking bbSOL with Bybit Launchpool. Users can earn newly listed tokens as rewards while maintaining their bbSOL positions, offering an additional way to generate returns from staked assets. Launchpool provides regular opportunities to join token distribution events (TGEs), with rewards allocated based on the staked bbSOL amount and participation period.
Crypto Loans
Access instant liquidity using bbSOL as collateral for Bybit's crypto loan service. Borrow from over 160 crypto assets, with hourly interest calculations and the flexibility to repay anytime without penalties. Manage your loan-to-value (LTV) ratio by adjusting collateral amounts and using borrowed funds for DeFi yield farming, margin trading or yield arbitrage opportunities.
Institutional Loans
Access professional-grade lending services designed specifically for institutional clients through Bybit's Institutional Loan program. This structured solution offers different terms from standard crypto loans, allowing institutions to optimize their borrowing strategies based on their capital requirements.
The service provides competitive rates and flexible collateral management while maintaining the same core benefits as standard crypto loans, including hourly interest calculations and the ability to repay before the due date.
8 DeFi Key Uses for bbSOL
Unlock bbSOL's potential across the following multiple Solana DeFi protocols and Bybit Web3 products to maximize your yield opportunities.
DEX Trading and Liquidity Provision
Orca
Trade or provide liquidity for bbSOL on Orca, a leading Solana DEX known for its user-centric design. The platform's Concentrated Liquidity Automated Market Maker (CLMM) enables liquidity providers to target specific price ranges for enhanced capital efficiency and higher potential yields, while traders benefit from minimal slippage and competitive rates.
Raydium
Trade or provide liquidity for bbSOL on Raydium, a high-speed AMM on Solana that enables the creation of permissionless pools. The platform's concentrated liquidity pools allow users to optimize their positions while earning additional ecosystem rewards, supported by Raydium's efficient Swap Only model and low transaction costs.
Restaking
Solayer
Amplify bbSOL rewards through Solayer, Solana's native restaking protocol that optimizes network performance through its shared validator network. Users can deposit bbSOL to secure additional block space, earn MEV rewards and contribute to DApp efficiency across the Solana ecosystem.
Jito Re(staking)
Convert bbSOL into rstSOL through Jito (Re)staking, whereby P2P.org's vault optimizes capital efficiency through Vault Receipt Tokenization (VRT). Users can maintain liquidity while their assets earn staking rewards, leveraging Jito's secure and transparent operations.
The platform's rstSOL vault enables bbSOL holders to earn additional rewards through TipRouter's decentralized MEV tip distribution system, with plans to expand to other Node Consensus Networks (NCNs), such as Squads, Switchboard and Sonic. This strategic integration enhances the utility and efficiency of staked assets within the Solana ecosystem.
Lending & Borrowing
Kamino
Maximize bbSOL yield through Kamino's comprehensive DeFi platform, which combines automated concentrated liquidity strategies with lending markets. Users can optimize returns through one-click liquidity provision, borrow against their positions or multiply LST yields through leverage.
The platform's intuitive interface unifies these DeFi strategies into an integrated product suite, allowing users to track performance analytics and manage positions across lending, borrowing and automated liquidity solutions.
marginfi
Utilize bbSOL within marginfi's lending markets to access additional yield opportunities. The protocol allows you to lend your bbSOL to earn interest, or use it as collateral for borrowing, creating flexible options for portfolio management and yield generation.
Save
Use bbSOL on Save, a leading Solana lending protocol (formerly Solend), to earn interest through deposits, or use as collateral for borrowing. The platform combines high-speed transactions with sophisticated risk management, enabling users to create efficient yield-generating strategies through lending and borrowing loops.
Yield Trading
RateX
Trade bbSOL yield positions on RateX, Solana's first leveraged yield exchange. The platform enables users to trade synthetic yield tokens with up to 10x leverage, lock in fixed yields, or provide liquidity to optimize returns through multiple yield streams.
Should You Maximize Your SOL Holdings With bbSOL?
bbSOL is an ideal choice for investors looking to maximize their SOL holdings without sacrificing liquidity. Whether you’re an active trader, DeFi enthusiast or someone exploring new yield opportunities, bbSOL provides a seamless way to put your assets to work across multiple platforms. By integrating with various trading and staking mechanisms, it offers both flexibility and efficiency in asset utilization.
For traders, bbSOL enables active participation in both Spot and Margin markets to support dynamic portfolio adjustments. Investors interested in passive income can leverage CeFi and DeFi opportunities, ensuring steady returns through lending, staking and liquidity provision. Additionally, bbSOL supports liquidity provision across major decentralized exchanges (DEXs), offering yet another avenue for earnings. Investors can also amplify their positions by borrowing against their holdings, unlocking further potential for capital efficiency.
Beyond trading and lending, bbSOL opens doors to advanced yield-generation strategies. Restaking protocols allow users to earn additional rewards, while participation in Launchpool initiatives enables early access to new token launches. These features make bbSOL an attractive option for those seeking diversified growth opportunities.
However, using bbSOL requires a solid understanding of staking mechanics, as it involves conversions between SOL and bbSOL. Additionally, its performance is closely tied to the health of the Solana network, which investors must consider when evaluating risks and rewards.
For investors seeking yield generation without sacrificing liquidity, bbSOL offers an elegant solution. With integration across 16 distinct platforms and use cases, it's especially valuable for those looking to maximize the productive potential of their SOL holdings while maintaining flexibility.
Closing Thoughts
bbSOL offers users the best of both worlds: steady staking yields and complete asset flexibility. Through 16 distinct use cases across Bybit's CeFi products and Solana's DeFi ecosystem, holders can maximize returns through trading, lending, yield farming and restaking — all while their base staking rewards continue accumulating.
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