Liquid staking is coming to Solana in a big way with the launch of stkSOL, a new solution from pSTAKE Finance that promises high yields and decentralization. Built on Solana’s Stakepool program, stkSOL will allow customization similar to other Solana liquid staking tokens (LSTs) like jitoSOL, mSOL, and bSOL.
What sets stkSOL apart is its focus on optimizing for decentralization and high yields by utilizing MEV-supporting validators. Additionally, pSTAKE Finance is introducing the ‘Grow your PP’ incentive program, a unique marketing campaign that rewards Solana holders with $PSTAKE points (PP) based on criteria like holding certain NFTs, using DeFi protocols, and liquid staking SOL.
As Mikhil Pandey, co-founder and head of strategy at Persistence, explained, ‘The launch of stkSOL is the latest move by Persistence to empower the liquid staking and restaking economy. The ‘Grow your PP’ campaign aims to incentivize both new and existing SOL holders and reward those who participate in the broader ecosystem. There are tremendous untapped opportunities for liquid staking on Solana, and stkSOL, helped along by the incentive program, helps users take advantage while supercharging their rewards earnings opportunities.’
With Solana’s existing staking market cap of $50.5 billion, the introduction of stkSOL could significantly impact DeFi on the network by unlocking substantial yield opportunities. pSTAKE Finance plans to launch stkSOL in early May, further expanding its cross-chain liquid staking solutions beyond Cosmos Hub, BNB Chain, dYdX, and Osmosis.
This news story relied on a press release distributed by News Direct. Blockchain Registration, Verification & Enhancement provided by NewsRamp™. The source URL for this press release is pSTAKE Finance Unveils stkSOL, Solana’s New Liquid Staking Solution.