Bybit Staked SOL (bbSOL) Project Update

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• Breakpoint 2025 Product Keynote (Byreal): Byreal's keynote detailed how Bybit integrated traditional finance products alongside crypto offerings, launched the Byreal DEX with simultaneous spot listings, and enabled users to trade on-chain SPL tokens using native assets like SOL and BBSOL through a unified trading account. The project reached $1 billion in total trading volume within 10 weeks of its public launch, and institutional comfort was demonstrated by Anchorage Digital providing custody support for BBSOL tokens. (December 13, 2025)
• Anchorage Digital Institutional Custody Support: Bybit announced that bbSOL gained institutional custody support from Anchorage Digital, the first federally chartered crypto bank in the U.S., enhancing bbSOL's position as an institutional-grade liquid staking token within the Solana ecosystem. This partnership provides regulated entities with bank-grade security and compliance for accessing on-chain yield. (October 30, 2025)
• BSOL Bitwise SEC-Approved Solana ETF: The SEC approved BSOL, the first Solana Staking ETF by Bitwise, with 100% direct exposure to spot SOL and staking conducted via Bitwise Onchain Solutions powered by Helius Labs. This regulatory milestone signaled growing institutional acceptance of Solana staking products. (October 27, 2025)
• bbSOL First Anniversary Celebration: Bybit and Byreal celebrated bbSOL's first anniversary with a month-long campaign running until October 5, 2025, featuring a Puzzle Hunt, social media meme contest, and daily liquidity provider rewards. bbSOL, launched in September 2024, is Solana's first exchange-backed liquid staking token, having grown to over 10 DeFi and CeFi integrations and trading at a premium to SOL. (September 9, 2025)
• pxSOL Mainnet Launch: The Dinero team announced that pxSOL, a yield-bearing liquid staking token for SOL on Solana, went live on mainnet for users to mint, following an audit by Zenith. This added another competitor to the Solana liquid staking landscape. (August 11, 2025)
• Phantom Staked SOL (PSOL) Launch: The Phantom team launched Phantom Staked Solana (PSOL), a liquid staking token representing SOL deposited into the Phantom stake pool, offering MEV-boosted rewards that users could mint directly within the Phantom app. This represented increased competition in the Solana LST market. (May 14, 2025)
• pxSOL Testnet Launch: The Dinero team announced the launch of pxSOL, a yield-bearing liquid staking token for SOL on Solana, offered alongside apxSOL (staked pxSOL in Dinero's auto-compounding vault). pxSOL went live on testnet with a mainnet deployment planned. (May 15, 2025)
• bbSOL Product Introduction: Bybit introduced bbSOL, the first exchange-backed liquid staking token for Solana, allowing users to earn staking rewards while maintaining liquidity for DeFi participation. Users receive bbSOL tokens upon staking SOL, which reflect accumulated rewards automatically, and the token can be used for liquidity provision, borrowing, lending, and restaking across platforms like Sanctum, Kamino, Solayer, and Orca. (February 7, 2025)
• bbSOL Golden Maxi Rewards Airdrop: Bybit hosted its largest airdrop event, the bbSOL Golden Maxi Rewards, offering over $700,000 in prizes including SONIC, J, SSI, and ALCH tokens, running from January 27 to February 17, 2025. The event required users to stake at least 0.5 SOL on Bybit Web3, and bbSOL had amassed over $280 million in Total Value Locked since its launch. (January 27, 2025)
• Super6Bybit Anniversary Event: Bybit celebrated its 6th anniversary with the Super6Bybit event featuring a $1,200,000 prize pool, where participants could build and enhance their bbSOL by completing tasks and collecting Feeding Bottles for lucky draw tickets. The event ran from November 28, 2024, to January 6, 2025. (January 1, 2025)