Lido on Solana is sunsetting on 10/16/2023. You can't stake anymore, only unstake is available.
You will receive
Transaction cost will be deducted from your SOL balance
Updates at the end of an epoch. Rising exchange rate indicates an appreciation in stSOL value
Staking rewards fee
Please note: This fee applies to staking rewards/earnings only, and is NOT taken from your staked amount. It is a fee on earnings only. This fee is split between node operators, the DAO treasury, and Lido for Solana developers
Your stake will take 2-3 days to completely deactivate upon Unstaking. After that, you can use your wallet (Phantom or Solflare) to withdraw the inactive stake. More info here
Annual percentage yield is extrapolated from the price increase over a given period of time.
Total staked with Lido
We do not and cannot indentify individuals; this number is the number of stSOL token accounts with a non-zero balance.
stSOL market cap
Lido on Solana Sunset
Due to the termination of development and technical support of Lido on Solana, from 16th of October 2023, staking function is not available anymore. Please, unstake your funds via UI before 4th of February, 2024. For more information, please visit our blog.
What is Lido on Solana?
Lido on Solana is a liquid staking solution for SOL backed by industry-leading staking providers. Lido lets users earn SOL staking rewards without needing to maintain infrastructure and enables them to trade staked positions, as well as participate in on-chain decentralized finance with their staked assets.
Lido on Solana gives you:
Liquidity through tokenization — No activation delays and the ability to sell your staked tokens or use them as collateral in decentralized finance
One-click staking — No complicated steps
Decentralized security — Assets spread across the industry’s leading validators chosen by the Lido DAO
A SOL token holder connects their wallet and deposits their tokens into Lido. They immediately receive stSOL tokens in return, representing a share of the total staking pool. Lido delegates SOL to Lido-controlled validators on the Solana network and when these delegations accrue rewards on the allotted stake, the total SOL under management grows, increasing the value of stSOL tokens.
Liquid staking protocols allow users to earn staking rewards without locking assets or maintaining staking infrastructure. Users can deposit tokens and receive tradable liquid tokens in return. Liquid staking combines the benefits of staking (earning rewards) and brings liquidity, as well as additional possibilities to increase your assets or hedge your positions by participating in DeFi.
Furthermore, Lido stakes these tokens with DAO-elected staking providers. As users' funds are controlled by the program, staking providers never have direct access to the users' assets. Additionally, by involving different staking providers, Lido diversifies staking risks across multiple node operators.
How long after unstaking can I withdraw my SOL?
Your stake will take 2-3 days to completely deactivate upon unstaking. After that, you can use your wallet (e.g. Phantom or Solflare) to withdraw the inactive stake.
My stake has become inactive, how can I withdraw my SOL?
For now only Phantom and Solflare offer withdrawals of inactive stake.
stSOL is the liquid token that represents your share of the total SOL pool deposited with Lido. As soon as you delegate to the pool, you receive the newly minted stSOL. Over time, as your SOL delegation accrues staking rewards, the value of your stSOL appreciates. There is no waiting time for receiving stSOL tokens. When a user delegates their SOL tokens they do not need to wait for the completion of any delegation or activation steps, as is the norm in traditional staking. The user can instantly exchange stSOL for SOL at any time in the open market.
What is LDO?
LDO is a token granting governance rights in the Lido DAO. The Lido DAO decides on the key parameters (e.g. fees) and executes protocol upgrades to ensure efficiency and stability. By holding the LDO token, one is granted voting rights within the Lido DAO. The more LDO a user holds, the greater the decision-making power the voter has.
Why should I prefer liquid staking over traditional staking?
In traditional Solana staking a user has to perform a number of steps manually
Create a Stake Account and transfer SOL to it
Set its deposit and withdrawal authorities
Delegate it to a validator
Wait for activation of the delegation before the stake starts earning rewards
Furthermore, in traditional staking, if the user wants to diversify their stake across validators they would have to create and manage staking accounts for each validator.
Staking SOL through Lido comes with a variety of benefits:
One-step process — Start staking with a single click
The pool takes care of validator diversification
Immediate appreciation — You start earning staking rewards from the pool from the moment of deposit. This gets reflected in the value-appreciation of stSOL tokens
How can I redeem stSOL for SOL?
Withdrawals of SOL from Lido can be done through the Unstake tab. However, unstaking directly from Lido will incur the stake deactivation period, roughly (2-3 days). Immediate withdrawal options are available in the open market through liquidity pools on AMM protocols and other DEXes where one will be able to immediately exchange stSOL for SOL. If you wish to instantly receive SOL, we recommend trading stSOL directly on an exchange (for more info explore the ecosystem section)
What are the risk involved?
DAO key management risk
Solana staked via the Lido DAO is held across multiple accounts backed by a multi-signature threshold scheme to minimize custody risk. If signatories across a certain threshold lose their key shares, get hacked, or go rogue, we risk funds becoming locked.
Solana validators can go offline, in which case they do not earn staking rewards, lowering the return of SOL stakers. To minimize this risk, Lido stakes across multiple professional and reputable node operators with heterogeneous setups. This will also serve to mitigate potential slashing risks, should Solana implement slashing penalties in the future. There is also the possibility for additional mitigation for hypothetical slashing risks in the form of insurance paid from the Lido treasury.
stSOL price risk
As mentioned above, withdrawals from Lido take some time to deactivate. Liquidity pools in the open market will be available for instantly redeeming stSOL for SOL or stablecoins like USDC and USDT. On such pools users risk an exchange price of stSOL which is lower than the inherent value due to withdrawal restrictions on Lido, making arbitrage and risk-free market-making impossible. The Lido DAO is driven to mitigate the above risks and eliminate them entirely to the extent possible. Despite this, they may still exist and, as such, it is our duty to communicate them.
What fee is applied by Lido? What is it used for?
Lido applies a 10% fee on a user's staking rewards. This fee is split between node operators, the DAO treasury, and Lido on Solana developers. This fee cut is applied to incentivize Lido maintainers. To incentivize sustainable management of the Lido ecosystem, half of the fee split (=5%) is given to the node operators, 1% to P2P as the core developers, and 4% to the DAO treasury which can further utilize it in avenues like grants, insurances, and value accrual to LDO.
How can I calculate my earnings?
Your current stSOL balance also indicates the number of SOL it is worth. This means that if you were to redeem all of your stSOL tokens today you will receive the indicated number of SOL tokens. If you subtract this SOL amount from the amount of SOL invested in Lido, you get your lifetime earnings. You can also see the annualized APY for staking with Lido on the solana.lido.fi frontend.