bbSOL is Bybit’s liquid staking token (LST) representing SOL staked through its validator.
Launched September 2024 in partnership with Sanctum, bbSOL combines the reach of one of the world’s largest crypto exchanges with the liquidity and composability of Sanctum’s Solana-native staking infrastructure. Bybit designed bbSOL to be more than a staking asset, positioning it as a cross-ecosystem bridge between its Web3 products and Solana’s DeFi landscape.
Since launch, bbSOL has grown to nearly 12,000 holders, with more than 2 million SOL staked, making it one of the largest LSTs on Solana by TVL. Its presence is centered on Bybit’s platform, where more than 70 million users can mint bbSOL and stake SOL directly, without needing a self-custodial wallet.
For Bybit, bbSOL served as a strategic, necessary new entry into Solana DeFi, enabling the exchange to reward users, strengthen ties to the validator network, and drive engagement across both centralized and decentralized environments, all without taking on the heavy lift of building the LST’s underlying infrastructure from scratch.
Sanctum provided the technical foundation for bbSOL’s launch, from validator delegation and token mechanics to the unified liquidity layer that ensures seamless trading and staking experiences for LSTs across Solana.
To explore the partnership and its impact, we caught up with the Bybit team.
Interview with Bybit: Growing bbSOL and the Power of Partnership
Sanctum: bbSOL now has over 2 million SOL staked. What advice would you give to other teams aiming to grow their own LSTs?
Bybit: The first thing we’d emphasize is starting with strong infrastructure. For us, partnering with a technically mature protocol like Sanctum meant we could focus on user experience and distribution, while relying on your robust validator delegation and LST mechanics.
Second, make it easy and rewarding for users. People want their assets to work harder. We made sure bbSOL was integrated across both DeFi and CEX channels, and we designed reward campaigns to keep yield opportunities flowing.
Finally, think distribution-first. Leveraging Bybit’s existing user base gave bbSOL instant visibility, but it was just as important to build bridges back to Solana—connecting wallets, explorers, and onchain protocols from day one.
Sanctum: Why did Bybit choose to launch its LST with Sanctum instead of other options?
Bybit: For us, it came down to alignment—both technically and strategically. Sanctum offered a modular, scalable framework and deep Solana-native expertise. Your ecosystem-first approach and seamless integration with the Solana validator set gave us confidence that bbSOL would be resilient, secure, and DeFi-ready from the start.
Sanctum: What new opportunities does bbSOL unlock for Bybit users, and what can they look forward to in the future?
Bybit: bbSOL isn’t just a staking token—it’s a gateway to the broader Solana and Bybit Web3 ecosystem.
Right now, users can:
- Earn staking, liquidity, and MEV rewards by holding bbSOL
- Use bbSOL as collateral in lending protocols
- Join exclusive campaigns with boosted yield opportunities
Looking ahead, users can expect more DeFi integrations, additional airdrop pathways, and even deeper synergy between bbSOL and upcoming Bybit Web3 products. Our vision is simple: make SOL work harder for users, whether they’re on Solana, Bybit, or both.