# Binance Staked SOL

> Not investment advice. Ratings describe on-chain configuration only and may contain errors.

Snapshot 2026-10-24, methodology v0.2. Source: Celebtir, CC BY 4.0.

## Summary

- Chain: Solana
- Category: liquid-staking
- Stage: Unrated
- TVL: $1.04B
- Website: https://www.binance.com/en/solana-staking
- Core programs controlled by a Squads multisig

## Value

- Stablecoins $0, SOL $1.04B, BTC $0, other $0
- BNSOL (deposit): worst rating High. new supply can be minted by unrecognized controller 75NP…qjCV owned by program 1111…1111

## Activity

- 24h volume: unavailable: no volume metric for this category; fees only
- 24h fees: $152.73K (+15.1% over 7 days)

## Risk summary

- High: An approved upgrade takes effect immediately. Withdrawal completion within that period is not established by these configuration facts.
- High: The source of deployed program SPoo1Ku8WFXoNDMHPsrGSTSG1Y47rzgn41SLUNakuHy is not public, so users cannot review its behavior from published source.

## Risk analysis

- Upgrade control: **Low**. Squads v3 multisig, 6 of 10 voters, time lock 0 s. To improve: none: LOW is the lowest risk level.
  - Evidence: [EmiU8AQkB2sswTxVB6aCmsAJftoowZGGDXuytm6X65R3](https://solscan.io/account/EmiU8AQkB2sswTxVB6aCmsAJftoowZGGDXuytm6X65R3) `upgrade_authority` at slot 460975687
  - Evidence: [3yqoHFE4nBGchuVH5rJuZMFvsmnaDTuLLdvGPDUEJcbW](https://solscan.io/account/3yqoHFE4nBGchuVH5rJuZMFvsmnaDTuLLdvGPDUEJcbW) `threshold, time_lock, members, config_authority` at slot 460975688
- Upgrade delay: **High**. time lock 0 s. To improve: a time lock of 24 h+ → MEDIUM; 5 days+ → LOW.
  - Evidence: [EmiU8AQkB2sswTxVB6aCmsAJftoowZGGDXuytm6X65R3](https://solscan.io/account/EmiU8AQkB2sswTxVB6aCmsAJftoowZGGDXuytm6X65R3) `upgrade_authority` at slot 460975687
  - Evidence: [3yqoHFE4nBGchuVH5rJuZMFvsmnaDTuLLdvGPDUEJcbW](https://solscan.io/account/3yqoHFE4nBGchuVH5rJuZMFvsmnaDTuLLdvGPDUEJcbW) `threshold, time_lock, members, config_authority` at slot 460975688
- Admin powers: **Low**. the registry lists no admin accounts; the evidence is the core programs' upgrade reads. To improve: none: LOW is the lowest risk level.
  - Evidence: [EmiU8AQkB2sswTxVB6aCmsAJftoowZGGDXuytm6X65R3](https://solscan.io/account/EmiU8AQkB2sswTxVB6aCmsAJftoowZGGDXuytm6X65R3) `upgrade_authority` at slot 460975687
  - Evidence: [3yqoHFE4nBGchuVH5rJuZMFvsmnaDTuLLdvGPDUEJcbW](https://solscan.io/account/3yqoHFE4nBGchuVH5rJuZMFvsmnaDTuLLdvGPDUEJcbW) `threshold, time_lock, members, config_authority` at slot 460975688
- Code transparency: **High**. no public source. To improve: publish the program's source → MEDIUM.
  - Evidence: [SPoo1Ku8WFXoNDMHPsrGSTSG1Y47rzgn41SLUNakuHy](https://solscan.io/account/SPoo1Ku8WFXoNDMHPsrGSTSG1Y47rzgn41SLUNakuHy) `verified_build` at slot 460975686
- Oracle dependency: **Not applicable**. the registry lists no price feeds; the evidence is the core programs' upgrade reads. To improve: not applicable: nothing to improve.
  - Evidence: [EmiU8AQkB2sswTxVB6aCmsAJftoowZGGDXuytm6X65R3](https://solscan.io/account/EmiU8AQkB2sswTxVB6aCmsAJftoowZGGDXuytm6X65R3) `upgrade_authority` at slot 460975687
  - Evidence: [3yqoHFE4nBGchuVH5rJuZMFvsmnaDTuLLdvGPDUEJcbW](https://solscan.io/account/3yqoHFE4nBGchuVH5rJuZMFvsmnaDTuLLdvGPDUEJcbW) `threshold, time_lock, members, config_authority` at slot 460975688
- Dependencies: **Low**. all 1 callees rated Low on upgrade control. To improve: none: LOW is the lowest risk level.
  - Evidence: [SPoo1Ku8WFXoNDMHPsrGSTSG1Y47rzgn41SLUNakuHy](https://solscan.io/account/SPoo1Ku8WFXoNDMHPsrGSTSG1Y47rzgn41SLUNakuHy) `transaction sample (50 transactions)` at slot 460975899
  - Evidence: [6WU8Nxarf9fudRK5atWwjLY4vFaw5UrrWhL88qz7iCMJ](https://solscan.io/account/6WU8Nxarf9fudRK5atWwjLY4vFaw5UrrWhL88qz7iCMJ) `upgrade_authority` at slot 460975997

## Stage

Unrated. Stages describe who can change the protocol and how fast. They don't measure code security.

- [x] Stage 0: core programs identified in the registry (1 core programs)
- [ ] Stage 0: public source for every core program (no public source: SPoo1Ku8WFXoNDMHPsrGSTSG1Y47rzgn41SLUNakuHy)
- [x] Stage 0: upgrade control readable for every core program (upgrade control read for all core programs)
- [x] Stage 1: upgrade control rated Low or Medium (LOW: Squads v3 multisig, 6 of 10 voters, time lock 0 s)
- [ ] Stage 1: upgrade delay of the Stage 1 minimum, unless upgrades need an emergency multisig (SPoo1Ku8WFXoNDMHPsrGSTSG1Y47rzgn41SLUNakuHy: effective time lock 0 s; needs 5 days+ or an emergency multisig of 8+ voters at 75%+)
- [x] Stage 1: admin powers rated Low or Medium (LOW: the registry lists no admin accounts; the evidence is the core programs' upgrade reads)
- [x] Stage 1: no multisig has a single-key config authority (no single-key config authority)
- [ ] Stage 1: verified builds for all core programs (not verified: SPoo1Ku8WFXoNDMHPsrGSTSG1Y47rzgn41SLUNakuHy)
- [x] Stage 1: every factor could be read (Unknown caps the Stage at 0) (no Unknown factors)
- [ ] Stage 2: core programs immutable, or upgradeable only through on-chain governance with a long delay (upgradeable without 30 days+ governance delay: SPoo1Ku8WFXoNDMHPsrGSTSG1Y47rzgn41SLUNakuHy)
- [x] Stage 2: no key can move or freeze user funds (no admin key can move or freeze funds)

## Control graph

- SPL Stake Pool → Binance Staked SOL: core program
- BNSOL → Binance Staked SOL: used as deposit
- Unrecognized → BNSOL: can mint · no delay
- Squads 6 of 10 · no delay → SPL Stake Pool: can upgrade · no delay

## Permissions

- Unrecognized [75NPzpxoh8sXGuSENFMREidq6FMzEx4g2AfcBEB6qjCV](https://solscan.io/account/75NPzpxoh8sXGuSENFMREidq6FMzEx4g2AfcBEB6qjCV)
  - Mint tokens: BNSOL (Binance), no delay
- Squads 6 of 10 · no delay [3yqoHFE4nBGchuVH5rJuZMFvsmnaDTuLLdvGPDUEJcbW](https://solscan.io/account/3yqoHFE4nBGchuVH5rJuZMFvsmnaDTuLLdvGPDUEJcbW)
  - Upgrade the code: SPL Stake Pool, no delay
- Held by no one: Freeze tokens (BNSOL (Binance))

## Programs

- SPL Stake Pool [SPoo1Ku8WFXoNDMHPsrGSTSG1Y47rzgn41SLUNakuHy](https://solscan.io/account/SPoo1Ku8WFXoNDMHPsrGSTSG1Y47rzgn41SLUNakuHy): core, Upgradeable loader, controller Squads 6 of 10 · no delay, no public source, last upgrade none found

## Upgrades & governance

- Upgrades: 0 so far (history still filling)
- Last upgrade: none
- Average interval: not enough upgrades

## Updates

No changes have been recorded for this protocol since tracking began.

## Dependencies and sources

- Calls [Stake11111111111111111111111111111111111111](https://solscan.io/account/Stake11111111111111111111111111111111111111): Immutable, rated Low
- Registry source for multisig Squads v4 (3yqoHFE4nBGchuVH5rJuZMFvsmnaDTuLLdvGPDUEJcbW): https://solscan.io/account/3yqoHFE4nBGchuVH5rJuZMFvsmnaDTuLLdvGPDUEJcbW
- Registry source for program SPL Stake Pool (SPoo1Ku8WFXoNDMHPsrGSTSG1Y47rzgn41SLUNakuHy): https://spl.solana.com/stake-pool
- Registry entry last reviewed: 2026-10-19 by celebtir-loop-draft

Web page: /protocols/binance-staked-sol/