Finder makes money from featured partners, but editorial opinions are our own. Advertiser Disclosure
Lido Staked SOL (STSOL) is in the top 1,000 cryptocurrencies in the world by market cap, valued at $88,378,989. The current price of Lido Staked SOL is $17.4223505, which is -1.036% lower than yesterday. Prices have ranged between $24.41 and $22.36 over the past 24 hours. All prices are listed in US dollars and accurate as of March 25, 2023 09:03 UTC.
stSOL is a liquidity provider (LP) token that represents a user’s share of staked SOL tokens within the Lido protocol’s SOL pool. The Lido protocol is a decentralized finance (DeFi) application that allows users to stake tokens while retaining liquidity.
Originally developed for the Ethereum blockchain, the application now offers services to users of the Solana, Terra, Kusama, and Polygon networks.
According to the project’s website, Lido pools all users’ staked SOL tokens and uses them to earn staking rewards within the Solana blockchain. Rewards are then distributed to all members of the staking pool. For each SOL deposited within the Lido SOL pool, a user receives stSOL at a ratio of 1:1. Using this mechanism, Lido aims to lower the barrier to entry for those that wish to stake SOL tokens and allow the amplification of a user’s liquidity.
Users can deposit SOL funds into the Lido pool, which then chooses which validators within the Solana blockchain to delegate funds to. The application ensures that user’s funds are spread across multiple leading validators hand-picked by the Lido decentralized autonomous organisation (DAO). As a user receives the stSOL token when SOL is deposited, the stSOL can then be used to generate further yield within the DeFi ecosystem. The stSOL token can be used to participate in other DeFi activities, such as liquidity mining and yield farming, therefore, amplifying a user’s liquidity.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.
This guide provides step-by-step instructions on how to buy FTX, lists some exchanges where you can get it and provides daily price data on FTT.
This guide provides step-by-step instructions on how to buy Sushi, lists some exchanges where you can get it and provides daily price data on SUSHI.
This guide provides step-by-step instructions on how to buy UMA, lists some exchanges where you can get it and provides daily price data on UMA.
This guide provides step-by-step instructions on how to buy Maker, lists some exchanges where you can get it and provides daily price data on MKR.
This guide provides step-by-step instructions on how to buy Serum, lists some exchanges where you can get it and provides daily price data on SRM.
This guide provides step-by-step instructions on how to buy Reserve Rights, lists some exchanges where you can get it and provides daily price data on RSR.
This guide provides step-by-step instructions on how to buy Alpha Venture DAO, lists some exchanges where you can get it and provides daily price data on ALPHA.
This guide provides step-by-step instructions on how to buy Nexus Mutual, lists some exchanges where you can get it and provides daily price data on NXM.
This guide provides step-by-step instructions on how to buy Voyager VGX, lists some exchanges where you can get it and provides daily price data on VGX.
This guide provides step-by-step instructions on how to buy Curve DAO, lists some exchanges where you can get it and provides daily price data on CRV.
