SOL Staking

Overview

Financials

Onchain Activity

DEX Activity

Methodology:

Total supply is pulled from Solana RPCs.

Net staked supply is pulled from Solana RPCs.

Liquid Stake is an approximation based on the top ~45 LSTs (See LSTs Dashboard)


Native stake = Net Staked Supply - Liquid Stake Supply

Non-Staked SOL = Total Supply - Net Staked

Breakdown by Native Stake, Liquid Stake, and Non Staked SOL

Solana: Supply Breakdown

Marketshare of Liquid Staking Tokens (LSTs) on Solana from a staked SOL perspective. We include the top ~45 tokens, for visibility only the top 12 are shown, the remaining are aggregated into 'Others'

Important Note: This chart does not include SOL in reserves that are unstaked. These would be included in a TVL comparison of LSTs, but as this is focused on Liquid Staked tokens, we omit the unstaked SOL sitting in reserves.

Tracking the top LSTs

Solana: Liquid Staking Tokens

This is a simple tracking of activating and deactivating stake per epoch. It may not reflect the actual net flows as some stake is simply being re-delegated to different validators.

Solana: Activating and Deactivating Stake

**Staking Rate**: total_staked_sol / total_sol_supply

**Liquid Staking Rate**: liquid_staked / total_staked_sol

Our tracking of LSTs omits those with less than 10k SOL and will underestimate the true total LST Staking rate.

Solana: Staking Rate

**Validator Name**: Names displayed are voluntarily published by the respective validator, and the Vote Account pubkey is used where a name is not published.

**Delegated SOL**: Total SOL staked with the validator.

**Stake Commission**: Percentage the validator takes from delegation rewards.

**Jito Commission**: Percentage the validator takes from Jito rewards.

**Staking APY**: The 30 day average APY stakers with this validator would have earned. No data is displayed for Solo-Stakers as they charge 100% commissions.

**Annualized Revenue**: We take the average revenue (Stake Commission + Jito Commission + Transaction Fees) earned in the previous 15 epochs (30 days) and annualize this, assuming 183 epochs per year.

**Client**: The current known client version the validator is running. The -jito flag denotes that validators are receiving Jito tips and are assumed to be running Jito variants of those clients.

**Stake Percentage**: The percentage of the total stake that is staked with the individual validator.

**Cumulative Stake**: A running total of the Stake Percentage. Useful in determining the Superminority of validators.

**SFDP Stake %**: The proportion of stake that comes from Solana Foundation Delegation Program.

Solana: Validators

Active validator is defined as having been a leader of a slot during the previous epoch. This omits validators that show up on the network but do not produce blocks.

Superminority is the set of validators that make up 33.33% of the network's stake. This threshold is significant because if they were to fail or collude this could lead to a network disruption.

Solana: Validator Count

Solana: Stake Rate

Native APY: The raw staking yield.

Net APY: Native yield + Jito rewards. The staking yield if you are staked with a Jito enabled validator.

Values are ~30D averages (previous 15 epochs).

30D Average

Solana: Staking Yield

Agave versions are of the format: N.N.NN

Frankendancer versions are of the format: N.NNN.NNNNN

Firedancer versions are assumed to be: N.NNN

Unknown: Are those where the client version could not be found.

-jito flags are added to any version for a validator that has mev rewards from jito.

Stake Weight data looks at client diversity from a stake perspective.

Validator Count data looks at client diversity from a validator count perspective.

Solana: Validator Clients

Aggregated view of Validator Operator Revenue sources by epoch. For validators with >90% commission, which we view as self-staked operators, we only consider transaction fees as revenue. From the perspective of the financials, self-staked validators are viewed as token holders rather than operators since they stake their own SOL to the validator.

**Issuance Commission**: Aggregate of validator take rate on SOL issuance.

**Jito Commission**: Aggregate of validator take rate on Jito Tips.

**Transaction Fees**: Block rewards from priority fees, base fees, and vote fees.

**Note**, Does not include any off-chain payments or other reward tokens.

Solana: Validator Operator Revenue

What a Staker on Solana would be earning in yield and a breakdown of where the source of yield is coming from.

**Issuance Yield**: Is the core yield from staking as a delegator.

**Jito Yield**: The extra yield from Jito tips and rewards.

These values are aggregated for the entire network, it assumes you are staked with a jito enabled validator. Actual results may vary from validator to validator. See the validator table for specific validator APY.

A note on Solo-Staked validators (those with 90% commission rate): We consider the commission on these validators to essentially be the yield that they receive on their staked SOL.

Solana: Staker Revenue

**By Stake**: The percentage total network stake controlled by all validators within the the bucket.

**By Count**: The total count of individual validators belonging to each bucket.

**Buckets**: Less than 0.05% meaning all validators with less than 0.05% of total stake. Greater than 1% meaning all validators with more than 1% of total stake each.

Solana: Validator Size Distribution

**Nominal APY**: Total yield from issuance + jito tips/rewards

**Real APY**: Nominal Yield - Inflation Rate

**Inflation Rate**: Solana has a predefined inflation rate that started in epoch 150 at 8% and decays by 15% per year until the terminal rate of 1.5%

Values are aggregated across the entire network and includes Solo-Stakers (validators with over 90% commission). For Solo-Stakers we take the commissions and consider this the staker yield. Actual results may vary from validator to validator. See the validator table for specific validator APY.

Solana: Staking Yields

Solana Foundation Delegation Program (SFDP) stakes SOL to validators who qualify for this program. See: https://solana.org/delegation-program

**SFDP % of Total Stake**: SFDP SOL / Total Staked SOL


Markets

Layer 1

Layer 2

Finance

Consumer

Sectors

Chain Clusters

ETFS

Solana: SOL Staking

Solana: Validator Count

Solana: Stake Rate

Related News