Dubai, United Arab Emirates, October 9th, 2024,
Chainwire
Bybit, the world’s second-largest crypto exchange by
trading volume, is proud to announce the successful completion of
bbSOL’s first month,
marking a milestone in its mission to advance token staking on the
Solana blockchain. As the first exchange-backed liquid staking
token (LST) on Solana, bbSOL has gained momentum, attracting
attention for its marketing strategies and integration across both
centralized and decentralized platforms.
Since its launch, bbSOL has positioned itself as a noticeable
figure in the Solana ecosystem due to its position at the
intersection of centralized finance (CeFi) and decentralized
finance (DeFi).
Key Milestones of bbSOL's First
Month:
Total Value Locked (TVL)
Surpasses 85 million: bbSOL has outpaced other
exchange-backed staking tokens in TVL, underscoring its appeal to
users and highlighting its growing influence within the Solana
ecosystem. This surge in TVL reflects the token's robust adoption
and Bybit's commitment to delivering staking opportunities for its
users.
Expanded
Accessibility: bbSOL will be listed on Bybit Spot on 10 Oct
2024, 10AM UTC broadening user access to both trading opportunities
and liquidity rewards across multiple ecosystems. By bridging the
gap between Bybit’s centralized exchange and the broader DeFi
landscape, bbSOL offers a streamlined experience for token
holders.
Strategic
Partnerships: 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.
“We are incredibly proud of the community's
enthusiastic response to bbSOL,” said Emily Bao, Head of
Spot and Web3 at Bybit. “bbSOL's success in its first
month is a testament to the power of combining Bybit’s global reach
with the innovation and agility of decentralized platforms. With
its listing, we’re further expanding accessibility and unlocking
even more opportunities for our users to trade and benefit from
bbSOL. We look forward to building on this momentum and bringing
even more partners into the fold as we continue to shape the future
of token staking.”
About Bybit
Bybit is the world’s second-largest
cryptocurrency exchange by trading volume, serving over 50 million
users. Established in 2018, Bybit provides a professional platform
where crypto investors and traders can find an ultra-fast matching
engine, 24/7 customer service, and multilingual community support.
Bybit is a proud partner of Formula One’s reigning Constructors’
and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, readers can please visit Bybit Press.
For media inquiries, readers can please contact: media@bybit.com
For more information, readers can please visit: https://www.bybit.com
Contact
Head of PR
Tony
Au
Bybit
tony.au@bybit.com