Liquid Staking

Stake SOL and receive a liquid token representing your stake, still usable as collateral or liquidity elsewhere in DeFi.

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Liquid staking lets you stake SOL to help secure the network and earn staking rewards, while receiving a liquid token (an LST) that represents your staked position. Unlike native staking, which locks your SOL for an unbonding period when you want it back, an LST can be traded, used as collateral, or deployed elsewhere in DeFi while your underlying SOL keeps earning staking rewards in the background.

Protocols like Jito, Marinade, Sanctum, and BlazeStake each issue their own LST (jitoSOL, mSOL, and others) and handle delegating the underlying SOL to validators on your behalf, distributing rewards, and managing validator selection and slashing risk.

How to evaluate a liquid staking protocol

Validator set and decentralization. How the protocol selects and distributes stake across validators affects both your yield and the network’s overall decentralization. Concentrated stake is a systemic risk, not just a protocol-level one.
LST liquidity. An LST is only as useful as the markets that will accept it. Deep liquidity on major DEXs and acceptance as collateral in lending markets both matter if you want to actually use the token, not just hold it.
Peg mechanism and history. LSTs are designed to trade near their underlying SOL value (adjusted for accrued rewards), but they can and do trade at a discount during stress. Understand whether the peg is enforced by redemption rights, arbitrage, or both.
Fees. Protocols take a cut of staking rewards; this varies by protocol and changes over time — check current rates directly.

The main risk: depeg

An LST trading below its fair value relative to SOL — a depeg — can happen during periods of high redemption demand, validator issues, or general market stress. It’s usually temporary and self-correcting through arbitrage, but if you need liquidity at the wrong moment, it’s a real cost. Our LST depeg risk guide covers the mechanics in more detail.

New to this entirely? Start with our complete guide to Solana liquid staking or the practical walkthrough of staking SOL via Jito. If you plan to borrow against an LST, use the LST collateral and lending guide before choosing a market.

Comparing issuers directly: Jito vs Marinade, Jito vs Sanctum, Marinade vs Sanctum. For a shortlist across models, see the best Solana liquid-staking protocols. For the wider market, use the ranked Solana LST directory.

Frequently asked

Which liquid staking token (LST) should I use?

It depends what you're optimizing for — MEV-derived yield versus validator decentralization versus something else. See our head-to-head comparisons for the specific tradeoffs rather than a single blanket recommendation, since the 'best' LST depends on your priorities, not a universal ranking.

Is liquid staking riskier than regular (native) staking?

It adds a layer of risk native staking doesn't have — the LST's smart contract and its peg to SOL's value — in exchange for keeping your position liquid. Native staking avoids that extra layer but locks your SOL for an unbonding period when you want it back. Neither is simply safer; they trade different things.

Can an LST lose its peg to SOL permanently?

Depegs during stress are usually temporary and self-correcting through arbitrage on established protocols, but it's not a mathematical guarantee — see our LST depeg risk guide for the mechanics and what specifically determines whether a depeg resolves.