What's elSOL?

Abstract

elSOL is an incentivized Liquid Staking Token (LST) on the Solana blockchain, designed to allow users to earn staking rewards without locking their assets or managing complex operations. By holding elSOL, users contribute to the security of the Solana network while maintaining liquidity and receiving rewards. This approach further strengthens the decentralization and security of the entire network.

elSOL addresses the challenges previously associated with Solana staking, aiming to foster long-term prosperity and a sustainable ecosystem on the Solana blockchain. Built on the foundation of the Solana Foundation's official staking pool program, which has undergone more than ten audits to ensure its security, elSOL integrates open-source software development with automated validator management services to deliver a comprehensive solution. This contributes significantly to the creation of a sustainable Solana ecosystem.

Moreover, elSOL incorporates holding incentives. The solv development team, which operates elSOL, has established the Validators DAO, making elSOL holders eligible for TGE airdrops and long-term vesting airdrops of the DAO's VLD tokens. By staking VLD tokens, holders can obtain veVLD voting rights, which enable them to participate in the decentralization of elSOL's delegation strategy.

elSOL promotes the enhancement of security and decentralization of the Solana network, providing an environment where more users can enjoy the benefits of staking. As a result, it aims to support the healthy growth of the entire Solana ecosystem, contributing to long-term prosperity and sustainable innovation.