What's elSOL?
Abstract
elSOL is a Liquid Staking Token (LST) built upon the official Solana staking pool program. It provides users the advantage of earning staking rewards while maintaining asset liquidity. Beyond traditional liquid staking benefits, elSOL introduces the innovative "Stake Bandwidth Market," enabling diverse applications of stakes for validators and RPC nodes.
Specifically, elSOL offers two staking methods:
- Stake for mining VLD tokens
- Stake to acquire bandwidth that can be utilized or rented in the Stake Bandwidth Market
This allows participants to maximize the efficiency of their SOL stakes.
Improved SOL staking efficiency increases real incentives for stakers, validators, and projects/traders, creating a virtuous cycle that attracts more participants.
Validators can more easily secure sufficient stakes, and projects/traders can enhance trading efficiency by accessing stable, high-speed transaction environments. Meanwhile, stakers gain additional revenue opportunities, such as bandwidth leasing, alongside traditional staking rewards.
These multiple incentives strengthen network decentralization and security, contributing significantly to a robust Solana ecosystem.