> For the complete documentation index, see [llms.txt](https://nbx.gitbook.io/nbx/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://nbx.gitbook.io/nbx/chains/expanding-to-bnb.md).

# Expanding to BNB

<figure><img src="/files/6V8npBktvRa4VbudbdrL" alt=""><figcaption></figcaption></figure>

Liquid staking is a sector in the BNB ecosystem with roughly US$150M in TVL.

Similar to ETH, 14% of BNB is staked and we see a lot of similar projects.&#x20;

<figure><img src="/files/WcsHn69llHXNgH0vVNFc" alt=""><figcaption><p>Source: Binance Research</p></figcaption></figure>

* ANKR
* STader
* pStake&#x20;

These projects are "LSD" projects that provide LSD BNB for people who stake BNB with yield.&#x20;

As they are rebasing tokens, this reminds of the early LSD days of Ethereum.

And we now see Binance actively exploring this space starting with stablecoins.&#x20;

<figure><img src="/files/eY4AHgGUevxmnY8HXFVJ" alt=""><figcaption><p>Source: Binance Twitter</p></figcaption></figure>

We believe that the next LSDfi explosion will come from a very active ecosystem such as Binance Smart Chain.&#x20;