Back in May, we launched PSOL (Phantom Staked SOL); our very own liquid staking token, because we wanted to make it easier for people (you) to earn SOL rewards.
Since PSOL’s inception, the ecosystem has seen more than 500K PSOL minted—and PSOL is now approaching a $100 million market cap. Plus, we just shipped of a ton of new and exciting features.
Let’s break down how PSOL is making liquid staking simpler than ever.
What is liquid staking?
Traditional staking is great…but it does have some limitations.
Enter the world of liquid staking: where users stake their assets and receive a liquid staking token (like PSOL) in return. These liquid staking tokens represent the underlying value of the staked asset, accruing rewards over time.
With liquid staking you can:
- Stay liquid: Receive a token like PSOL that represents your staked SOL and keeps earning over time.
- Skip lockups: No waiting around. Access to your capital whenever you need it.
- Tap into DeFi: Trade, lend and borrow against PSOL. Access broader DeFi flows like looping.
- Boost efficiency: Earn staking rewards while also putting PSOL to work elsewhere.
Why stake SOL for PSOL?
Staking SOL with Phantom is fast, flexible and extremely simple for anyone even remotely familiar with DeFi. Let’s dive in to the details:
- Simple setup, instant rewards: Stake your SOL to get PSOL in return. This can be executed in just a few clicks and your rewards start accumulating right away. The best part? You can stake as little as $1.
- More yield at no extra cost: Swap into PSOL with zero transaction fees. On top of the base staking yield, you earn a portion of priority fees and MEV tips—resulting in higher average rewards than native staking.
- Full control over your SOL: Access your SOL balance and accrued rewards at any time, or use your PSOL to borrow, lend or provide liquidity (accessible via our integration with Kamino Finance). No lockups, no limits.
- Audited & decentralized: Staking with Phantom is self-custodial and leverages the Solana stake pool program which has been audited 9 times by industry-leading security firms.
- Track your staking rewards: Monitor all of your PSOL staking rewards in real time. See how much SOL you’ve earned directly from the PSOL token page in your wallet.
Getting started with PSOL
Mint PSOL
It only takes a few steps to mint and stake your SOL on Phantom.
- Go to the Solana asset page, scroll down and tap “Start Earning.”
- Select the amount of SOL you’d like to stake, and tap “Stake” when ready.
Your PSOL will be minted instantly, and can be accessed via your wallet.
Swap into PSOL
You can also convert tokens (including liquid staking tokens, like JitoSOL or MSOL) into PSOL, without having to unstake anything—and with zero swap fees.
To do this, simply use Phantom’s in-wallet swapper, just like how you’d trade any other token.
We don’t have a longer explanation for you—it’s really that easy.
Looking ahead
Staking often appears more complicated than it should be. PSOL is the easiest way to earn staking rewards on Solana (without you wanting to rip your hair out).
Stay tuned for updates on PSOL by following us on X.
