What is Lido for Solana? "Lido for Solana" is a Lido-DAO governed liquid staking protocol for the Solana blockchain. Anyone who stakes their SOL tokens with Lido will receive an on-chain representation of the SOL staking position with Lido validators, called stSOL. This will allow Solana token holders to obtain liquidity on their staked assets which can then be traded or used as collateral in DeFi products.
stSOL is the tokenized form of SOL with native Lido participation. Lido for Solana is supported by several industry leading engagement providers. It makes SOL staking liquid and allows you to participate with any amount of SOL.
A SOL token holder links their wallet and deposits their tokens into the Lido program. They immediately receive the stSOL tokens that represent a portion of the total pool and the Lido program delegates SOL to Lido-controlled validators on the Solana network. When these delegations accumulate rewards on the allocated stake, the total SOL under management increases and this increases the value of the stSOL tokens.
stSOL can be used as you would SOL, allowing holders to earn SOL staking rewards in addition to rewards through integrated platforms such as Saber and Raydium. How does STOL work? stSOL is the liquid token that represents your share of the total SOL pool deposited on Lido. As soon as he delegates to the group, he receives the newly minted stSOL. Over time, as your SOL delegation accumulates rewards, the value of your stSOL will appreciate. There is no waiting time to receive stSOL tokens. When a user delegates their SOL tokens, there is no need to perform or wait for any delegation or activation steps to complete, as is normal in traditional staking. The user can instantly exchange stSOL for SOL at any time on the open market. How many stSOLs are in circulation? The stSOL supply keeps track of the amount of SOL deposited in the Lido contract and the current exchange rate. For example, if there are 1000 SOL in the Lido contract and the stSOL-SOL exchange rate is 2, then the total stSOL in circulation is approximately 500. This is because the exchange rate is updated only once per epoch. and the exact number of stSOL in the circulation can be observed at the borders of the era. The total supply of stSOL can be tracked via https://solana.lido.fi/api/stsol?q=totalcoins Where can I buy stSOL? StSOL will be available to trade on a growing number of exchanges, including Serum, Saber, and Raydio.
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