'Lido for Solana' is a Lido-DAO governed liquid staking protocol for the Solana blockchain. Users who stakes their $SOL tokens with Lido will be issued an on-chain representation of $SOL staking position with Lido validators, called $stSOL. The Lido team will work to integrate $stSOL widely into the Solana DeFi ecosystem to enable $stSOL users to make use of their staked assets in a variety of applications.
$stSOL is the liquid token that represents a user's share of the total $SOL pool deposited with Lido. As soon as a user delegate to the pool, the user will receive the newly minted $stSOL. Over time, as the user's $SOL delegation accrues rewards, the value of the user's $stSOL appreciates. Besides, the user can instantly exchange $stSOL for $SOL at any time in the open market.