Tuesday, July 23, 2024

Solana's Liquid Staking sector is primed for growth: Exploring key players and innovations.


Everyone noticed the growth of the liquid staking landscape some time ago. I think last year was crucial for the growth of the LSD protocols, especially with the Shanghai upgrade. I also became very interested in it, because everyone likes to earn passively. The opportunities are various.While Ethereum requires 32 ETH for native staking on a personal node or the use of liquid staking providers like Lido ce or Rocket Pol, Solana allows anyone to stake natively through its delegated Proof-of-Stake system by delegating to validators instead of running their own node.We can see the results in terms of total staked versus liquid staked assets. Solana has $61B in staked capital, surpassing Ethereum. Jito, Marinade Finance, and Jupiter dominate Solana liquid staking, holding 80% of all SOL in LSTs. Each protocol is unique.Since the opportunities are various, restaking is taking a good position. Beyond liquid staking, Solana sees increased development of restaking protocols. Solayer: Aims to create a network of appchains secured by Solana’s economic security. Its May soft launch hit a $20M deposit cap for SOL and LSTs in 45 minutes.Cambrian: Developing a modular restaking layer for Solana to reduce costs and enhance resource allocation, benefiting decentralized oracles and AI processors. Testnet is expected this summer.Picasso: Evolved into a restaking hub supporting other Solana projects like Mantis, an upcoming restaked L2. Picasso Network enables utility and security through IBC. It opens up many possibilities within the ecosystem. via /r/AltStreetBets https://ift.tt/lMgxvOA

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