Let’s welcome the return of an old friend, Lido, but with a new feature, Solana staking.
Lido: Multi-chain staking platform
Lido is a DAO that offers staking on multiple chains, despite the majority of services being on Ethereum. Currently, Lido offers staking activities on Ethereum, Kusama, Polygon, Terra Classic, and Solana.
To make it easier to understand, we can take Solana as an example. You will be required to stake a certain amount of SOL to become a validator. If you don’t have enough SOL but you still want to stake in exchange for rewards, you may pay a fee to join one of the various staking pools on Lido.
Recently, users can join SOL staking pools with Lido validators for the reward of stSOL. With the current APR of 5.3%, Lido has received over 110 million dollars in SOL and given out a total reward of 96,199 SOL. Moreover, stSOL enables holders to receive staking rewards passively without having to manage their own validator infrastructure. stSOL may also be swapped to SOL or linked into Solana DeFi systems, allowing additional DeFi use cases and staking rewards.
Lido’s Solana staking info is now online
Does the name “Lido” sound familiar? You’re right! We did integrate Lido about 3 months ago but it was only Ethereum tracking. Recovering from the recent disaster, Lido has regained investor faith. The proof is that there are currently more than 7 billion dollars of TVL on the Lido platform. Despite the dominance of Ethereum on Lido leading to the first integration of this chain into our App, Lido now comebacks on the news with the second largest staking chain based on TVL, Solana.
Nothing changes in the operation, DePocket users can now notice the change in display of Lido staking balance in Solana section. Especially for users that are staking both SOL and ETH on Lido, DePocket will solve the problem of management.
Try our demo wallet here: https://app.depocket.com/addresses/Dkx85wVaUaDy9i9XWFdZvYrw5h2WMP1N8TqXPBdXY5Wh
Up to now, we have integrated over 50 dApps across 14 blockchains. Don’t hesitate to join us. “All in your pocket” is step by step being realized.