Lido Brings Liquid Staking to Solana, Its Third Blockchain

Lido for Solana doesn’t follow the pegging approach, followed by ETH and stETH, as of now. However, this might be considered for revision when Solana launches native support for rebasing in SPL tokens. Effectively, her SOL balance potentially went up by 5% from 1 SOL to 1.05 SOL. Even though the numbers here are hypothetical they represent the concept of rewards accurately. The all-time high price of Lido Staked SOL is $263.24 on Nov 07, 2021 .

Additionally, users can unstake their SOL through Lido at any time. Lido for Solana is a Lido-DAO governed liquid staking protocol for the Solana blockchain. Staking assets on a blockchain helps to secure the network, but losing that liquidity can be painful for traders and investors. Through the Lido DAO, the Lido community determines the long-term objectives for Lido on Solana. Validators such as Stakin have been chosen by the Lido Node Operator Subgovernance Group . The Lido on Solana maintenance daemon automatically rebalances the stake and delegates and among validators.

Lido Staked SOL

Staking ETH via Lido is accessible to everyone as there isn’t a minimum staking amount. A recent integration of Exodus wallet on Lido Finance means that you can now seamlessly stake your Solana on a fully liquid basis. Let’s walk through what this integration offers and how you can access it, step-by-step. He added that a protocol like Lido’s can expand the network of node operators and SOL distribution between them, thereby improving Solana’s overall censorship resistance. Lido’s prior staking derivative has tracked the value of the underlying asset closely.

As of early afternoon Monday, ETH was trading at $3,440 and stETH at $3,589. Coinpaprika.com needs to review the security of your connection before proceeding. Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand.

The Basics of Non-Fungible Tokens (NFTs)

Since stSOL is composable across the Solana DeFi ecosystem, there are many ways to generate yield with stSOL. First, you can utilize stSOL by lending it out in a decentralized lending market such as Solend. Below, you’ll find a few more DeFi dApps that are allowing you to utilize your stSOL. Finder.com is an independent comparison platform and information service that aims to provide you with information to help you make better decisions. We may receive payment from our affiliates for featured placement of their products or services.

You can also obtain stSOL or sell stSOL via a tokenswap such as Raydium, Saber or Jupiter. To do so on either platform, all you need to do is connect your wallet and select the desired asset that you’d like to swap for stSOL . Please note that you’ll need to do your own due diligence to find the best Solana exchange for you.

The all-time low price of Lido Staked SOL is $12.19 on Nov 09, 2022 . When the price hits the target price, an alert will be sent to you via browser notification. To receive alerts, please allow web browser notification permission.

These banks and brands are not responsible for ensuring that comments are answered or accurate. Wait for the transaction to finalize and the STSOL tokens will arrive in your wallet. We provide node infrastructure and closely work with over 30 Proof-of-Stake networks.

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Lido Staked Sol stsol

These are tokens that users receive for staking their SOL with Lido, and they can be used in the same way as SOL for nearly everything in DeFi. Staking network tokens to secure PoS consensus is one of the lowest-risk yield opportunities in DeFi. As mentioned earlier, pursuing this yield also removes tokens from the greater DeFi ecosystem, where composability allows for multiple ways a token can be put to work. In this model, a validator that acts dishonestly not only doesn’t get their token rewards–they also have their stake slashed. This repository contains the source code for the on-chain program, and for thesolido utility to interact with it.

• Gas fees only cost a fraction of a cent on Solana, so keeping 0.01 SOL set aside for gas will be plenty.
• You can click on exchange links directly to buy or sell Lido Staked Sol or other coins easily.
• The Hubble Protocol community is looking forward to onboarding stSOL as collateral in the near future.
• The closer the bar is to 100%, the closer STSOL is to reaching its ATH again.

This means that millions of SOL tokens have been made available for participation in DeFi while still helping to secure the network. So far, Lido has enabled almost $6B to be staked on Ethereum 2.0 and almost $2B of LUNA to be staked on the Terra blockchain. Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision. You can still purchase STSOL by using a decentralized exchange instead.

This will allow Solana token holders to get liquidity on their staked assets which can then be traded, or further utilized as collateral in DeFi products. We will work to integrate stSOL widely into the Solana DeFi ecosystem to enable stSOL users to make use of their staked assets in a variety of applications. The first liquid staking protocol solution was built for Ethereum — and now Lido is expanding to different blockchain networks. Chorus One recently proposed a plan to build “a liquid staking token that will accrue staking rewards and represent staking positions with Lido validators on Solana”. The stake deposited to the Lido contract on Solana will be distributed to these validators following a logic similar to the Lido on Ethereum. The live price of Lido Staked SOL is $ 13.89 per (stSOL / USD) today with a current market cap of $ 0 USD.

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We may also receive payment if you click on certain links posted on our site. You will need to purchase enough SOL to swap for STSOL as well as SOL to pay for transaction fees on the Solana network . Gas fees only cost a fraction of a cent on Solana, so keeping 0.01 SOL set aside for gas will be plenty. The trading volume of Lido Staked Sol is 44,173,678 in the last 24 hours. Volume 24h is referring to the total amount of a cryptocurrency traded in the previous 24 hours. Withdrawals of SOL from the Lido program will be rolled out after the initial MVP that is expected later this summer.

Our information is based on independent research and may differ from what you see from a financial institution or service provider. When comparing offers or services, verify relevant information with the institution or provider’s site. You may now keep the tokens in your web 3.0 wallet or transfer them somewhere more secure like a hardware wallet. Chorus One proposed to build the liquid staking solution described here with support from the Lido DAO and the vote past with over 96m LDO in favor and 0 LDO against. Follow our Twitter handle and website to keep in touch with the latest updates.

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Decentralized exchanges are web applications that run on blockchains like Solana and allow users to trade any asset directly with one another. The market capitalization of a cryptocurrency is its current price multiplied by its circulating supply . The Lido program collects the deposited SOL and releases the newly minted stSOL to the user.

Just make sure that you are downloading the official Chrome extension and mobile app by visiting the Phantom’s website. This will provide a shell into the working directory where the Solido artefacts and the Solana toolchain are located. Inside that directory, the the solidoutility is in solido/cli, and the on-chain programs are in solido/deploy. Cli — The command-line solido utility for interacting with the on-chain programs. ETH staked on Ethereum 2.0 remains locked until the new network launches, while LUNA staked is almost instantly available.

Speculations abound for how high What is Lido Staked SOL ’s price will get in the future. Over the last day, Lido staked SOL has had 0% transparent volume and has been trading on 3 active markets with its highest volume trading pairs being . With Lido staking, users can deposit SOL through Lido and it will be distributed to its staking partners.

Solana is an extremely fast, and censorship-resistant blockchain that has witnessed tremendous growth and adoption in the last year. Solana serves transactions at an order of magnitude higher rate when compared to base layer Ethereum. Additionally, there is a flourishing ecosystem emerging around Serum and other DeFi protocols such as Raydium, Oxygen, Pyth Network, and others that are being built on Solana. With over $14bn staked, Solana is now also in the Top 5 of Proof-of-Stake networks by staked value.

If you are not an existing user, you can refer to our How to Buy Solana guide on registering and buying your first cryptocurrency on Binance. There are several crypto wallets to choose from within the Solana network and Phantom appears to be https://cryptolisting.org/ the most integrated. If you are using a desktop computer, you can download Google Chrome and the wallet Chrome extension. If you prefer using your mobile phone, you can download the wallet via Google Play or iOS App Store if it’s available.

Lido Staked Sol price is down -26.58% in the last 24 hours and tends to move upwards by 6.94% according to last hour transactions. Also Lido Staked Sol price on a weekly basis decreased by -56.11%. When we look at the variation of Lido Staked Sol price monthly, it is down by -57.64%, whereas it is down by -94.06% according to its price 1 year ago. You can find information about lido staked sol technical analysis and lido staked sol price prediction as well.