Financial technology company MoonPay has launched a liquid staking service specifically for the Solana blockchain network. The service offers users an 8.49% annualized yield while providing greater flexibility through the issuance of the mpSOL token, enabling liquid exposure to staked SOL assets without lockup periods.
However, the service is not available to users in New York or the European Union due to current regulatory constraints.
The launch comes amidst heightened activity within Solana’s staking ecosystem. Solana previously surpassed Ethereum in total value staked, reaching $53.9 billion compared to Ethereum’s $53.7 billion, highlighting a significant shift in market dynamics.
Institutional interest in Solana staking appears to be growing, with firms like DeFi Development Corp and Upexi increasing their SOL holdings. This trend is further demonstrated by the recent successful launch of the first regulated Solana staking exchange-traded fund (ETF), which has already surpassed $100 million in assets under management.