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Liquidity Staking protocol Lido Supports SOL
Summary: Lido, a liquidity staking protocol that can help users earn yield from staked digital assets, has been extended to Solana blockchain and supports its native SOL token. This means that Lido users can now pledge SOL through the agreement and receive stSOL in return. Lido also plans to launch staking solutions for the Polkadot and ...
Lido, a liquidity staking protocol that can help users earn yield from staked digital assets, has been extended to Solana blockchain and supports its native SOL token. This means that Lido users can now pledge SOL through the agreement and receive stSOL in return. Lido also plans to launch staking solutions for the Polkadot and Polygon blockchains.
Lido's goal is to make stSOL widely accepted as collateral in the DeFi ecosystem on Solana and other blockchains. Users can now stake Solana and obtain new stSOL tokens in return, and use these tokens to participate in decentralized finance (DeFi) projects on the blockchain. Holders of stSOL can trade these derivative tokens or use them as DeFi collateral, which generates additional revenue.
The announcement stated that Lido has controlled more than 80% of the Ethereum staking derivatives market and is the largest non-custodial staking agreement between Ethereum and Terra.
By Mary Liu
Tags: Ethereum,Lido,SOL,Solana
Link: Liquidity Staking protocol Lido Supports SOL [Copy]
