A few days ago, I was chatting with a friend who works in development. He’s been exploring BNB staking issues lately and seems to have discovered quite a few insights.

Speaking of staking, many people have tried it. The yields look pretty good, but once your coins are locked in, you can’t move them. When a bull market arrives, others’ assets are appreciating, while your BNB just earns some basic returns in the staking pool—it's a bit disappointing.

He mentioned an idea—using a liquidity staking protocol to turn BNB into a token called slisBNB. Simply put, this token can continuously earn staking rewards while maintaining liquidity, allowing you to use it for collateralized loans.

The key point is the borrowing cost. By using slisBNB as collateral to borrow stablecoins, the annualized interest rate is only 0.03%—this fee is even lower than typical withdrawal fees. The borrowed stablecoins can then be put into yield protocols, achieving an annualized return of around 20%. This creates a profit margin through the arbitrage. Plus, with the original staking rewards from BNB, the overall annualized return can reach over 27%.

Of course, this kind of operation isn’t without risks. A significant drop in collateral prices could lead to liquidation pressure, and platforms holding stablecoins also carry risks. However, data shows that top-tier protocols with such TVL have already reached hundreds of billions of dollars, and their auditing and risk control systems are relatively mature.