Liquid staking has become the default way to hold SOL in 2026. Instead of locking tokens with a validator and waiting an epoch to unstake, liquid staking tokens (LSTs) let you earn staking rewards while keeping your capital fully usable across DeFi.
But with JitoSOL, mSOL, JupSOL, and dozens of smaller LSTs competing for your SOL, choosing the right one matters. Each token has a different yield structure, different DeFi support, and different trade-offs.
This guide breaks down exactly how Solana liquid staking works, compares the three dominant LSTs head-to-head, and helps you decide which fits your strategy.
What Is Liquid Staking on Solana?
When you stake SOL natively, your tokens are locked with a validator for at least one epoch (roughly two days). You earn staking rewards — currently around 7% APY — but you can't use that SOL for anything else while it's staked.
Liquid staking solves this. You deposit SOL into a liquid staking protocol and receive a liquid staking token (LST) in return. This LST:
- Appreciates in value relative to SOL as staking rewards accrue
- Can be used across DeFi — as collateral for borrowing, in liquidity pools, in vaults
- Can be swapped back to SOL at any time through DEXes or the protocol itself
The result: you earn staking yield and retain full liquidity. There's no lock-up period, no waiting for unstaking, and no opportunity cost.
How LSTs Accrue Value
LSTs don't pay you rewards in a separate token. Instead, the LST itself becomes worth more SOL over time.
When you mint 1 JitoSOL, it might be worth 1.00 SOL. After a year of ~8% staking rewards, that same 1 JitoSOL is worth roughly 1.08 SOL. The exchange rate drifts upward continuously as the staking pool earns rewards.
This means:
- You don't need to claim rewards — they're embedded in the price
- The LST is tax-efficient in many jurisdictions (no reward distribution events)
- Compounding is automatic — rewards earn rewards without any action
JitoSOL — The Yield Leader
Jito is Solana's largest liquid staking protocol by TVL and the clear leader in raw yield, thanks to its unique MEV reward sharing.
How JitoSOL Works
- Deposit SOL at jito.network or through wallets like Phantom and Solflare
- Receive JitoSOL, which automatically appreciates as staking + MEV rewards accrue
- Use JitoSOL anywhere in Solana DeFi
What Makes JitoSOL Different: MEV Rewards
Jito's defining advantage is MEV (Maximal Extractable Value) reward sharing. Jito runs modified validator software that captures MEV from transaction ordering — arbitrage, liquidations, and other extractable value — and redistributes a portion to JitoSOL holders.
This is yield that standard staking doesn't capture. When trading activity is high and MEV opportunities are abundant, JitoSOL's yield premium over other LSTs widens significantly.
JitoSOL Key Stats (2026)
| Metric | Value |
|---|
| Base Staking APY | ~7% |
| MEV Bonus | ~1-3% (variable, higher in active markets) |
| Total APY | ~8-10% |
| TVL | Largest LST on Solana |
| Validator Set | Curated set running Jito-Solana client |
| Unstaking | Instant via DEX swaps, or 1-2 epoch native unstake |
| Management Fee | 4% of rewards (not of principal) |
JitoSOL in DeFi
JitoSOL has the second-widest DeFi integration on Solana:
- Lending: Accepted as collateral on Marginfi, Kamino, and Drift
- Liquidity pools: JitoSOL/SOL pairs on Orca, Raydium, and Meteora earn LP fees on top of staking yield
- Vaults: Auto-compounding strategies on Kamino
JitoSOL Risks
- Validator concentration: Only validators running the Jito-Solana client participate, which is a subset of all Solana validators
- MEV variability: The MEV bonus fluctuates with market activity — during quiet periods, the yield premium shrinks
- Smart contract risk: Your SOL is held in Jito's staking pool contract
mSOL — The DeFi Workhorse
Marinade Finance is Solana's original liquid staking protocol and still commands one of the deepest DeFi integrations.
How mSOL Works
- Deposit SOL at marinade.finance
- Receive mSOL, which appreciates at the staking reward rate
- Use mSOL across DeFi — it's accepted nearly everywhere
Marinade also offers native staking (Marinade Native), where your SOL is staked directly with validators without a smart contract intermediary. You don't get a liquid token, but you avoid all smart contract risk.
What Makes mSOL Different: Decentralization
Marinade's validator selection algorithm distributes stake across hundreds of validators, weighting toward smaller, high-performing validators. This makes mSOL the most decentralization-friendly LST — your stake actively helps distribute network power away from the largest validators.
Marinade also directs stake away from validators with poor performance, high commission, or concentration risk, which improves overall network health.
mSOL Key Stats (2026)
| Metric | Value |
|---|
| Base Staking APY | ~7-7.5% |
| MEV Sharing | Partial (from validators that support it) |
| Total APY | ~7-8% |
| TVL | Second largest LST |
| Validator Set | 400+ validators (broadest distribution) |
| Unstaking | Instant via DEX swaps, or delayed native unstake |
| Management Fee | ~2% of rewards |
mSOL in DeFi
mSOL has the widest DeFi support of any LST:
- Lending: Accepted on every major Solana lending protocol
- Liquidity pools: mSOL/SOL pools across all major DEXes with deep liquidity
- Vaults: Supported in Kamino auto-compounding vaults
- Payments: Some dApps accept mSOL directly
mSOL Risks
- Lower yield: Without full MEV sharing, mSOL yields trail JitoSOL by 1-2%
- Smart contract risk: Same as any liquid staking protocol
- Validator algorithm dependency: Marinade's algorithm determines stake distribution — if it underperforms in validator selection, rewards could be lower
JupSOL — The Validator LST
JupSOL is Jupiter's liquid staking token, created through Sanctum's LST infrastructure. Unlike JitoSOL and mSOL which spread stake across many validators, JupSOL concentrates stake with a single high-performance validator.
How JupSOL Works
- Deposit SOL through jup.ag or Sanctum
- Receive JupSOL, backed by SOL staked with Jupiter's validator
- Use JupSOL in DeFi — swappable for other LSTs via Sanctum's Infinity Pool
What Makes JupSOL Different: Single-Validator Focus + 0% Commission
JupSOL's validator charges 0% commission, meaning all staking rewards go directly to JupSOL holders. Most validators charge 5-10% commission, so this gives JupSOL a slight edge on base yield.
Additionally, Jupiter's validator runs the Jito-Solana client and shares MEV rewards, combining the commission advantage with MEV yield.
JupSOL Key Stats (2026)
| Metric | Value |
|---|
| Base Staking APY | ~7.5% (boosted by 0% commission) |
| MEV Sharing | Yes (Jito client) |
| Total APY | ~8-9% |
| TVL | Third largest LST |
| Validator Set | Single validator (Jupiter) |
| Unstaking | Instant via Sanctum or DEX swaps |
| Management Fee | 0% commission |
JupSOL in DeFi
JupSOL benefits from Jupiter's ecosystem:
- Lending: Accepted on Marginfi, Kamino
- Liquidity pools: JupSOL/SOL pairs available on major DEXes
- Sanctum Infinity Pool: Instant zero-slippage swaps to any other LST
- Jupiter ecosystem: Tight integration with Jupiter's swap aggregator and perp platform
JupSOL Risks
- Single-validator risk: If Jupiter's validator goes offline or underperforms, all JupSOL stake is affected. Multi-validator LSTs like mSOL spread this risk
- Concentration: Supporting JupSOL doesn't contribute to network decentralization the way mSOL does
- Newer: Less battle-tested than JitoSOL and mSOL
Head-to-Head Comparison
| Feature | JitoSOL | mSOL | JupSOL |
|---|
| Total APY | ~8-10% | ~7-8% | ~8-9% |
| MEV Rewards | Yes (highest) | Partial | Yes |
| Commission | 4% of rewards | ~2% of rewards | 0% |
| Validator Count | ~200+ (Jito client) | ~400+ (broadest) | 1 (Jupiter) |
| DeFi Integration | Very wide | Widest | Wide (growing) |
| Decentralization | Good | Best | Low |
| Instant Unstake | Yes (DEX) | Yes (DEX) | Yes (Sanctum/DEX) |
| Best For | Maximum yield | DeFi composability, decentralization | Jupiter ecosystem, 0% commission |
Which LST Should You Choose?
Choose JitoSOL if:
- You want the highest possible passive yield
- You plan to hold long-term and let MEV rewards compound
- You're comfortable with a curated (not maximal) validator set
Choose mSOL if:
- You want the widest DeFi compatibility
- You care about network decentralization
- You want the most battle-tested, longest-running LST protocol
- You prefer Marinade's native staking option as a fallback
Choose JupSOL if:
- You're already in the Jupiter ecosystem
- You want 0% commission on staking rewards
- You plan to use Sanctum for LST swaps
- You're comfortable with single-validator concentration risk
How to Get Started With Liquid Staking
Step 1: Get a Solana Wallet
If you don't have one, download Phantom or Solflare. Fund it with SOL from an exchange.
Step 2: Choose Your LST
Based on the comparison above, pick the LST that matches your priorities.
Step 3: Mint Your LST
- JitoSOL: Go to jito.network/staking, connect your wallet, enter the amount, and confirm
- mSOL: Go to marinade.finance, connect your wallet, choose liquid staking, and deposit
- JupSOL: Go to jup.ag, search for JupSOL, or use Sanctum to stake directly
Step 4: Use Your LST in DeFi (Optional)
Once you hold an LST, you can stack additional yield:
- Lend it: Deposit on Marginfi or Kamino to earn lending interest on top of staking rewards
- Provide liquidity: Add to an LST/SOL pool on Orca or Meteora to earn trading fees
- Use as collateral: Borrow stablecoins against your LST position
- Aggregate yields: Deposit on Lulo to automatically route to the highest-yielding lending platform
Advanced: Yield Stacking With LSTs
The real power of liquid staking is composability. Here are proven strategies:
Conservative: LST + Lending (~10-12% APY)
- Stake SOL → JitoSOL (~8-10% APY)
- Deposit JitoSOL on Marginfi (~2-3% lending APY)
- Total: ~10-13% on your SOL with minimal additional risk
Moderate: LST + Liquidity Provision (~15-25% APY)
- Stake half your SOL → JitoSOL
- Provide JitoSOL/SOL liquidity on Orca or Meteora
- Earn staking yield + LP fees with very low impermanent loss (both assets are correlated)
Aggressive: LST + Borrow Loop (~15-20% APY)
- Deposit JitoSOL on a lending protocol
- Borrow SOL against it
- Stake borrowed SOL → more JitoSOL
- Repeat (with caution — monitor liquidation risk)
Warning: Looping amplifies both gains and losses. A significant SOL price drop won't matter (since both sides are SOL-denominated), but a JitoSOL depeg event could trigger liquidation. Only attempt this with capital you understand the risks of losing.
Common Questions
Can I lose money with liquid staking?
Your LST will always be redeemable for the underlying SOL plus accrued rewards. However, the SOL price can drop — liquid staking protects against opportunity cost, not market risk. There's also smart contract risk (a protocol exploit could affect the staking pool).
How is liquid staking different from native staking?
Native staking locks your SOL with a validator for at least one epoch (~2 days to unstake). You earn rewards but can't use your SOL in DeFi. Liquid staking gives you a tradeable token that represents your staked position.
Do LSTs have fees?
Yes. Each protocol takes a small cut of staking rewards:
- JitoSOL: 4% of rewards
- mSOL: ~2% of rewards
- JupSOL: 0% (the validator itself charges 0%)
These fees are already reflected in the APY numbers. You never pay fees separately.
Can I swap between LSTs?
Yes. Sanctum's Infinity Pool enables zero-slippage swaps between any supported LSTs. You can also swap on Jupiter or any DEX, though there may be minor slippage for larger amounts.
Is liquid staking safe?
Liquid staking protocols are among the most audited and battle-tested in Solana DeFi. The main risks are smart contract exploits (mitigated by audits and time in production) and validator performance issues (mitigated by multi-validator setups). That said, no DeFi protocol is risk-free — only stake what you're prepared to have at risk.
Comparing Yields: Where to Track LST Performance
Use MadeOnSol's Yields page to compare current LST rates, lending APYs, and LP opportunities side by side. Rates fluctuate with market conditions, so checking before committing capital is essential.
For real-time tracking of your LST positions, Step Finance and Birdeye both support portfolio tracking with LST value calculations.
Disclaimer: APYs mentioned are approximate and fluctuate based on market conditions, network activity, and protocol parameters. Liquid staking involves smart contract risk and is not risk-free. This guide is for educational purposes only and should not be considered financial advice. Always do your own research before staking.
