Liquid Staking (LSTs)

Liquid staking tokens (LSTs) represent staked SOL that trades as SPL mints. Integrate them when users want staking yield without locking native SOL or when protocols accept LST collateral.

Recipe

Quick-reference recipe card - copy-paste ready.

# Stake SOL for jitoSOL via Jito CLI / stake pool UI
spl-token balance J1toso1uCk3RLmjorhTtrVwY9HJ7X8V9yYac6Y7kGCPn

// Sanctum - swap between LSTs
const res = await fetch("https://sanctum-api.example/swap", {
  method: "POST",
  body: JSON.stringify({ inputMint: "J1toso1uCk3RLmjorhTtrVwY9HJ7X8V9yYac6Y7kGCPn", amount: "1000000000" }),
});

When to reach for this:

• Treasury holds yield-bearing SOL exposure.
• Lending markets accept jitoSOL/mSOL as collateral.
• Routing stake pool deposits in a wallet or vault product.
• Unified LST liquidity via Sanctum.

Working Example

import { createSolanaRpc, address } from "@solana/kit";
 
const rpc = createSolanaRpc("https://api.mainnet-beta.solana.com");
 
const jitoSolMint = address("J1toso1uCk3RLmjorhTtrVwY9HJ7X8V9yYac6Y7kGCPn");
const msolMint = address("mSoLzYCxHdYgdzU16g5QSh3i5K3z3KZK7ytfqcJm7So");
 
const [jitoSupply, msolSupply] = await Promise.all([
  rpc.getTokenSupply(jitoSolMint).send(),
  rpc.getTokenSupply(msolMint).send(),
]);
 
console.log("jitoSOL supply:", jitoSupply.value.amount);
console.log("mSOL supply:", msolSupply.value.amount);

What this demonstrates:

• Each LST is a distinct SPL mint with its own stake pool program.
• Supply grows as users stake; exchange rate vs SOL increases over time.
• Integrations must reference exact mint pubkeys, not ticker symbols alone.

Deep Dive

How It Works

• User deposits SOL into a stake pool program; receives LST minted 1:1 at current exchange rate.
• Pool delegates SOL to validators; staking rewards increase SOL-per-LST rate.
• Redeeming burns LST and returns SOL (instant or delayed depending on pool liquidity).
• Sanctum routes swaps between LSTs using pool liquidity and stake pool integrations.

Major LST Mints (mainnet)

Rust Notes

// Convert LST amount to SOL equivalent using on-chain exchange rate
pub fn lst_to_sol(lst_amount: u64, sol_per_lst: u64, precision: u64) -> Result<u64> {
    lst_amount
        .checked_mul(sol_per_lst)
        .and_then(|v| v.checked_div(precision))
        .ok_or(ErrorCode::MathOverflow.into())
}

Gotchas

• Exchange rate drift - UI showing 1:1 SOL:LST is wrong. Fix: Read stake pool sol_value / token_supply each render.
• Wrong mint - Many fake LST tokens exist. Fix: Allowlist mints from official docs only.
• Depeg events - LST can trade below NAV under stress. Fix: Show market price and NAV separately for collateral.
• Withdrawal delays - Instant unstake may have fees or limits. Fix: Document delayed vs instant paths in UX.
• Validator risk - LST yield depends on operator performance. Fix: Disclose operator and commission in product copy.
• Collateral haircuts - Lending protocols haircut LST vs SOL. Fix: Read market LTV params on-chain.

Alternatives

FAQs

Related

• Jito & MEV - Jito stake pool and tips
• Lending & Borrowing - LST collateral
• Vote Accounts & Staking - native staking mechanics
• DeFi Integrations Best Practices - LST allowlist policy

Stack versions: This page was written for Agave 4.1.1, Solana CLI 3.0.10, Anchor 0.32.1, anchor-lang 0.32.1, Rust 1.91.1, @solana/kit 7.0.0, Surfpool 0.12.0, and LiteSVM 0.6.x.