LST (Liquid Staking Token)

An LST is what you receive when you stake through a liquid staking protocol instead of staking natively. It represents a claim on your staked SOL plus accrued rewards, but unlike a native stake account, it isn’t locked — you can trade it, use it as collateral, or provide it as liquidity while the underlying SOL keeps earning staking rewards in the background.

jitoSOL, mSOL, and bSOL are all examples of Solana LSTs, issued by Jito, Marinade, and BlazeStake respectively. Each generally trades at a value that appreciates relative to SOL over time as staking rewards accrue, though the exact mechanism (rebasing vs. appreciating exchange rate) varies by protocol.

See our complete guide to Solana liquid staking and our LST depeg risk guide.