Lido Staked SOL STSOL Price 174.67

What is Lido for Solana? The Lido-DAO governed liquid staking protocol is called 'Lido for Solana'. stSOL is native to Lido and anyone who stakes their SOL token with Lido will be issued an on-chain representation of their SOL stake. Lido is supported by many providers. SOL token holders deposit their token into Lido. stSOL token represents a share of the total pool and Lido program delegates SOL to Lido-controlled validators on the Solana network. How does stSOL work? The stSOL token is used to represent your share of the SOL pool. When you delegate to the pool, you receive the stSOL. As your SOL delegation accrues rewards, the value of your stSOL increases. There is no waiting for the token. When a user delegates their SOL token, they don't need to perform or wait for the completion of any delegation steps, as is the norm in traditional staking. How many stSOL are in circulation? The number of SOL deposited into the Lido contract is tracked by the supply of stSOL. The total stSOL in circulation is 500 because the Lido contract has 1000 SOL and the exchange rate is 2. The exact number of stSOL in circulation can be observed. stSOL can be purchased on a number of exchanges. The launch of the Mainnet was announced. Introducing Lido. Lido is where the Multisig Administration is located.