Lido Staked SOL, the crypto
Lido Staked SOL (STSOL) is a cryptocurrency token that represents staked SOL (Solana) tokens that have been deposited into Lido's staking protocol.
The main point of Lido Staked SOL (STSOL) is to provide liquidity to staked SOL tokens, allowing users to trade and exchange staked SOL without having to wait for the staking period to end. STSOL can also be used as collateral and earn rewards through Lido's liquidity mining program.
Lido Staked SOL (STSOL) aims to solve the problem of illiquidity of staked SOL tokens, which typically have a staking period of 2-3 weeks. By creating a token that represents staked SOL, users can trade and exchange their staked SOL before the staking period ends, unlocking liquidity for their assets.
We used an AI to answer three questions about STSOL, so take this info with a grain of salt.