Lido Staked SOL

'Lido for Solana' is a liquid staking protocol governed by Lido-DAO, designed specifically for the Solana blockchain. It enables users to stake their SOL tokens with Lido and in return, they receive an on-chain representation of their SOL staking position known as stSOL. This process provides liquidity to the Solana token holders on their staked assets which can be traded or used as collateral in DeFi products.

Understanding stSOL

The liquid token called stSOL represents your share of the total SOL pool deposited with Lido. Once you delegate to the pool, you are issued newly minted stSOL. As your SOL delegation accumulates rewards over time, the value of your stSOL appreciates accordingly. There is no waiting period to receive these stSOL tokens.

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