Bybit Latest Report: Liquid Staking Trend Drives DeFi Growth in Solana Ecosystem, Contributing to Solana's Adoption and Popularity
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September 12, 2024
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Solana's Transformation: Liquid Staking as a Catalyst
A new report released by Bybit suggests that the Solana blockchain is undergoing a transformative period, driven primarily by its Liquid Staking (LST) model. The report analyzes the current state of LST on Solana, including its key players, particularly the rise of exchange-backed Liquid Staking Tokens (LSTs). It also examines how the LST model is attracting a wider audience to the Solana ecosystem.
As a leading Proof-of-Stake blockchain, Solana has become a haven for memecoins, grassroots projects, and DeFi protocols in 2024. However, its current market size and influence have limited its mainstream adoption.
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