From May 5th, we officially list Lido Staked SOL Token (STSOL) on the ONUS application. Soon after STSOL is added, users can perform the following features:
- Off-chain transactions: Send and receive STSOL with other users in the ONUS network.
- Exchange: Swap from VNDC or USDT to STSOL and vice versa.
About Lido Staked SOL
‘Lido for Solana’ is a Lido-DAO governed liquid staking protocol for the Solana blockchain. Anyone who stakes their SOL tokens with Lido will be issued an on-chain representation of SOL staking position with Lido validators, called STSOL. This will allow Solana token holders to get liquidity on their staked assets which can then be traded, or further utilized as collateral in DeFi products.
A SOL token holder connects their wallet and deposits their tokens into the Lido program. They immediately receive STSOL tokens that represent a share of the total pool and the Lido program delegates SOL to Lido-controlled validators on the Solana network. When these delegations accrue rewards on the allotted stake, the total SOL under management grows and this increases the value of STSOL tokens. STSOL can be used as one would use SOL, allowing holders to earn SOL staking rewards in addition to rewards through integrated platforms like Saber and Raydium.
What is STSOL Token?
STSOL is the liquid token that represents user’s share of the total SOL pool deposited with Lido, operating on Solana according to SPL standard, and can be used to:
- Provide liquidity to other networks.
- Utilized as collateral in DeFi products.
- Name: Lido Staked SOL Token
- Symbol: STSOL
- Platform: Solana
- Standard: SPL
- Smart Contract Address: 7dHbWXmci3dT8UFYWYZweBLXgycu7Y3iL6trKn1Y7ARj