Convert

bSOL is a wrapped version of stSOL on the Terra and Solana blockchains. Users are able to exchange (wrap) stSOL to bSOL and back (unwrap). More information about the bSOL token can be found here.

The main differences are:

• stSOL and bSOL are used across different DeFi protocols. For example, you need bSOL for Anchor and stSOL for Solend (and other Solana-based apps).
• Rewards on stSOL are calculated as the difference in the exchange rate to SOL. bSOL staking rewards will be converted to UST and can be claimed by bSOL owner on Terra.

To transfer bSOL from Solana to Terra, use the Wormhole bridge as follows:

• Convert stSOL to bSOL on Solana.
• Send the bSOL through Wormhole from Solana to Terra, where it ends up as Wormhole-wrapped bSOL (wsbSOL).
• Convert the wsbSOL to native bSOL using Anchor.

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

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.

For now only Phantom and Solflare offer withdrawals of inactive stake.

• Withdrawals using Phantom
• Withdrawals using Solflare

• Phantom
• Solflare
• Ledger
• Sollet
• Solong

• 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

1. One-step process — Start staking with a single click
2. The pool takes care of validator diversification
3. 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

• 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.

• Downtime risk

  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.