Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => Solana Forum => Topic started by: bee on September 01, 2024, 04:11:02 AM

Title: Solana LST(s)
Post by: bee on September 01, 2024, 04:11:02 AM
Solana ecosystem platform focused on staking program has LST, as we know from the solana Stake-Pool subpage[1].
Recently, 3 major exchanges also launched their Solana LST tokens simultaneously. They consist of:

I haven't looked into their tokenomics further, just found it on X[2] without any link to any article explaining more. Someone who wants to help find related articles, I will insert them later in the OP.
Do you think this flexibility will help push Solana’s price to the next level? The circulation of these tokens represents a certain amount of Solana (supposedly) locked.

1. https://solana.org/stake-pools
2. https://x.com/i/status/1829181880975143249
Title: Re: Solana LST(s)
Post by: joniboini on September 06, 2024, 03:10:17 PM
I think this is the first time three exchanges listed staked token on their platform, granted they wanted to do that to capitalize on the opportunity to increases their Solana holding/volume, CMIIW. It will definitely give some hype for Solana ecosystem, although I don't think it will be enough to protect Solana from being affected by BTC when the market decide we enter the bear market. I think the winner of this move is definitely big players, not retail traders.
Title: Re: Solana LST(s)
Post by: MrSpasybo on September 06, 2024, 07:39:32 PM
Quote from: bee on September 01, 2024, 04:11:02 AM
Solana ecosystem platform focused on staking program has LST, as we know from the solana Stake-Pool subpage[1].
Recently, 3 major exchanges also launched their Solana LST tokens simultaneously. They consist of:
  • bnSOL from Binance
  • bbSOL from Bybit
  • bgSOL from Bitget

I haven't looked into their tokenomics further, just found it on X[2] without any link to any article explaining more. Someone who wants to help find related articles, I will insert them later in the OP.
Do you think this flexibility will help push Solana’s price to the next level? The circulation of these tokens represents a certain amount of Solana (supposedly) locked.
I think it's completely normal for LST to have once thrived on Ethereum and brought success to many CEXs. LST, and later LRT, can absolutely become the driving force to bring the Solana ecosystem to a new stage of development, not just relying on memecoins but actually providing value to users.

DeFi has always been a major trend in the crypto market, and the infow from it is enough to push SOL to a new ATH in the bullrun 2025. However, we also need to be cautious about the issue of fake TVL that existed in Solana during the bullrun 2021. This will be a crucial cycle for Solana's position in the crypto market.