What is Lido for Solana?
The Lido for Solana token or stSOL is a liquid token representing staked SOL on a 1:1 ratio. It’s native to Lido - a liquid staking protocol.
stSOL can be acquired by staking SOL tokens into liquidity mining pools on Lido. Users receive stSOL immediately after staking SOL.
There is no minimum amount of tokens users must stake in order to participate in the staking process on Lido.
It’s important to keep in mind that Lido charges a fee of 10% on all earnings that come from staking on the platform.
In addition to staking SOL, stSOL tokens can be traded on major supported exchanges. You can find our list of recommended exchanges in the section above.
There is no max cap of stSOL tokens. The total supply is determined by the exchange rate and the amount of staked SOL tokens. You can check the current supply on the Lido DAO website.
stSOL is a digital asset, and, like the majority of other digital assets, it can be quite volatile. Therefore, it's important to keep up with stSOL price fluctuations before making any purchase decisions.
There are various tools to help you monitor the price of an asset. For instance, the graph above will provide you with a deeper look at the Lido for Solana price history and its current trends.
What are the Main Features of Lido for Solana?
Lido for Solana is a Solana-specific staking protocol. It’s part of Lido - a decentralized autonomous organization (DAO) that provides an efficient method of staking cryptocurrencies without losing access to their tokens throughout the staking period.
Lido DAO was initially created for staking ETH (stETH). Upon its success, Lido introduced other cryptocurrencies including SOL (stSOL), MATIC (stMATIC), DOT (stDOT), and KSM (stKSM).
As discussed in the What is Lido for Solana section, these liquid tokens are pegged to the value of the staked token on a 1:1 ratio. This means that liquid tokens can be used in the same manner as staked tokens. For instance, they can be traded or even be put forward as collateral, among other things.
The entire project is governed by the community itself via the LDO token on the Lido DAO. LDO is one of the project’s native tokens that serve as a governance token.
Lido has been audited by Sigma Prime, Quantstamp, MixBytes, Oxorio, and ChainSecurity. These audit reports are publicly available for anyone to review.
When was Lido for Solana Launched?
The Lido for Solana crypto project was launched in late 2021 while Lido DAO itself was founded in late 2020.
Interested? Don't forget to check the stSOL price on the price chart above if you're considering purchasing this token.
