JitoSOL Airdrop Strategy: Earn Up to 6.94% APY with SOL Liquid Staking
Before we get started, this is not a recommendation or endorsement to buy any token(s) mentioned.
Since the resurgence of interest in Solana DeFi, liquid-staked tokens (LSTs) have experienced significant growth.
Similar to what we’ve seen with liquid staked ETH, the expansion of SOL LSTs can pave the way for increased total value locked (TVL) in DeFi protocols on Solana.
As SOL continues making headlines for its bullish price action the last month, DeFi investors are scrambling to gain exposure to the next class of Solana ecosystem tokens.
One of the most well known protocols, yet to tokenize, is Jito. With 6.4M SOL staked and nearly 43k liquid stakers, Jito is the only liquid staking protocol for Solana that distributes MEV (maximum extractable value) rewards to holders.
The Jito Stake Pool enables users to stake their Solana tokens in exchange for a liquid stake pool token (JitoSOL). JitoSOL provides liquidity while earning a combination of staking rewards and MEV rewards, currently netting 6.94% APY. Jito's liquid staking derivative is unique in two ways:
- JitoSOL provides additional rewards to users from MEV transactions happening on Solana
- Jito exclusively stakes with validators that run software designed to improve network performance
Aside from being a passive strategy to earn more SOL while contributing to Solana’s blockchain consensus (Proof of Stake), liquid staking with JitoSOL also presents a potential airdrop opportunity if you consider the current Jito Points program that went live on September 14, 2023.
Jito Points are designed to quantify and reward contributions to the JitoSOL ecosystem for any of the following
Hello! Hope all are doing well. I’m considering earning and holding various cryptocurrencies on Binance, including ADA, SOL, POLY, XRP, LINK, and other top altcoins. However, I’m concerned about potential risks such as hacking and financial loss. Could you provide insights into the safety measures on Binance and any precautions I should take to safeguard my investments? Thanks!
Hi, exchanges can and do get hacked, but it is rare for the big ones. Usually that is for smaller exchanges. Still though the best method for storage is on a hardware wallet that you own.