Phantom Launches PSOL: A New Era of Liquid Staking on Solana
Phantom introduces PSOL, a liquid staking token offering up to 9% APY, enhancing flexibility and rewards for Solana users.
Phantom Wallet has unveiled its native liquid staking token, Phantom Staked SOL (PSOL), providing Solana users with a flexible and rewarding staking option. This initiative allows users to stake their SOL tokens and receive PSOL in return, which appreciates over time as staking rewards accumulate. The process is seamlessly integrated into both the Phantom browser extension and mobile app, offering an intuitive user experience.
Key Features of PSOL:
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Attractive Yields: Users can earn up to 9% APY, with rewards stemming from new SOL issuance, MEV tips, and priority fees.
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Liquidity and Flexibility: Unlike traditional staking, PSOL holders can unstake at any time, either through a delayed process taking 2-3 days with a 0.1% fee or instantly via Phantom’s in-app swap feature, subject to regular swap fees.
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Non-Custodial and Secure: Built on Solana’s audited stake pool program, PSOL ensures that users retain full control over their tokens, with all rewards and balances tracked on-chain.
This development aligns with the growing trend of liquid staking solutions in the crypto ecosystem, offering users the benefits of staking without compromising on liquidity. As the DeFi landscape evolves, tools like PSOL are instrumental in providing users with versatile financial instruments that cater to both yield generation and asset flexibility.
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