What Are the Top Liquid Staking Protocols on Solana?

The top liquid staking protocols on Solana based on TVL are Jito, Marinade, Blaze, and Marginfi.

Key Takeaways:

Liquid staking technologies enable staked tokens to be used for other DeFi activities such as lending or trading, enhancing capital efficiency by ensuring they are not locked away while building a strong security layer for the network.

Stakers on liquid staking platforms receive a tokenized representation of their staked assets, which can be used for DeFi activities like lending, liquidity provision, yield farming, and more.

Stakers on Solana can also access liquid staking services through platforms like Jito, Marinade, Marginfi, and Blaze.

This article reviews staking platforms on the Solana network and guides users on how to stake their assets on these platforms.

Liquid Staking Solana

Over $54 billion worth of crypto assets are staked across liquid staking platforms according to data from DefiLlama. These assets are deposited on protocols that aim to improve the capital efficiency of staked tokens by issuing liquid staking tokens (LSTs) that act as derivatives of the staked assets, which can be used in various DeFi activities. This lets users retain liquidity while their assets are locked in staking, unlike traditional staking programs that lock away assets, leaving them dormant.