Key takeaways:
- Bybit introduces synthetic yield farming for bbSOL holders through RateX, enabling flexible yield trading with advanced DeFi tools.
- Save and marginfi partnerships bring nearly $900M in liquidity to bbSOL, improving lending and borrowing capabilities.
- bbSOL offers up to 22% APY with zero commission fees, providing users with flexible yield-generation options.
Bybit partners to expand DeFi utility of bbSOL
Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced strategic integrations for its bbSOL offering, aimed at broadening yield opportunities in decentralized finance (DeFi). Partnerships with RateX, Save, and marginfi allow bbSOL holders to access innovative tools for synthetic yield farming, liquidity provision, and yield optimization.
The collaboration with RateX introduces synthetic yield farming options, where bbSOL holders can trade synthetic Yield Tokens (YT) tied to yield-bearing assets. With features like Earn Fixed Yield and Yield Liquidity Farming, RateX offers bbSOL holders tools to trade, lock in fixed yields, or provide liquidity for yield trading.
Additionally, partnerships with Save and marginfi, two Solana-based lending and borrowing platforms, bring nearly $900 million in total value locked (TVL) to bbSOL. These platforms enable users to connect with a larger Web3 community, lending and borrowing securely while optimizing DeFi returns.
A competitive APY with broad CeDeFi reach
Bybit’s bbSOL offers a competitive annual percentage yield (APY) of up to 22%, combining base staking yields with DeFi-generated returns. With no commission fees and flexible redemption options, bbSOL provides a seamless way for users to leverage both centralized and decentralized platforms for asset growth.
Currently, bbSOL is integrated across 16 CeDeFi platforms, including eight Solana DeFi projects and eight Bybit centralized finance (CeFi) solutions. Users can purchase bbSOL with stablecoins, trade it against USDT with up to 10x leverage, or use it as collateral across the ecosystem.
Bybit’s vision for CeDeFi innovation
“Bybit is proud to provide CeDeFi solutions that empower our users to access, earn, and grow their assets with bbSOL across both centralized and decentralized platforms. Our partnership with RateX brings an innovative synthetic yield option to bbSOL, and integrations with protocols like Save and marginfi extend flexible, high-value opportunities within the Web3 community. Bybit remains committed to supporting users in maximizing yield with versatile options that meet the evolving needs of today’s digital asset landscape.”
— Emily, Head of Web3 Product Development at Bybit
With these initiatives, Bybit solidifies its leadership in CeDeFi, enabling bbSOL holders to diversify their portfolios and maximize yields with cutting-edge financial tools.
About Bybit
Established in 2018, Bybit is a global cryptocurrency exchange with 50 million users, offering professional trading tools, a fast matching engine, and multilingual support. It is also a proud partner of Oracle Red Bull Racing. Bybit’s commitment to innovation extends to its Web3 offerings, creating a comprehensive suite of solutions to simplify and expand access to decentralized finance and blockchain-based assets.
