Every liquid staking token, by size
| Token | SOL | Share | APY |
|---|---|---|---|
| bnSOL Binance | 10.18M | 19.42% | 4.72% |
| JitoSOL Jito | 9.95M | 18.98% | 5.10% |
| jupSOL Jupiter | 5.2M | 9.91% | 5.78% |
| dSOL Drift | 2.81M | 5.35% | 5.58% |
| mSOL Marinade Finance | 2.4M | 4.57% | 4.80% |
| INF Sanctum | 1.83M | 3.48% | 5.71% |
| fwdSOL Forward Industries | 1.67M | 3.18% | — |
| pSOL Phantom | 1.64M | 3.13% | 6.22% |
| dzSOL DoubleZero | 1.51M | 2.88% | 4.83% |
| JSOL JPool | 1.39M | 2.64% | 5.31% |
| vSOL Vault | 1.34M | 2.56% | 5.24% |
| bbSOL Bybit | 1.22M | 2.32% | 5.50% |
| xSHIN xShin | 1.12M | 2.13% | — |
| aeroSOL Aeropool | 1.09M | 2.08% | — |
| bSOL BlazeStake | 904.7K | 1.73% | 4.86% |
| edgeSOL Edgevana | 4.2K | 0.01% | — |
| Other tokens | 8.19M | 15.63% | — |
Liquid or direct: what actually differs
A liquid token stays tradeable while it earns, which is its whole point, and the pool takes a cut for it. Right now the median token pays 5.28% against a network staking yield of 5.50% before anything is deducted, and the gap is what the pool and its validators keep. The more useful number is the spread between tokens: pSOL pays 6.22% and bnSOL 4.72%, 1.50 points apart — wider than the gap to staking directly, so on yield alone which token you hold matters more than whether you hold one. Neither route is safer in the abstract: with a token you carry the pool’s smart-contract risk and the chance it trades below the stake behind it, with a direct delegation you carry your validator’s performance and a wait to unstake. If you delegate directly, the ranking shows who runs well and our guide explains what to look at.
What this counts, and what it does not
It counts SOL that sits behind a liquid staking token — you deposited SOL, you hold a receipt token, the stake works for you. It does not count SOL delegated directly to a validator, which is the larger share of the network. So the number here is not “how much of Solana is staked”; it is how much of the staked SOL chose a token instead of a direct delegation.
What the bars add up to
Every liquid staking token is stacked here, and the last band — “Other tokens” — carries the long tail, so the bars add up to the whole of liquid staking rather than to a selection of well-known names. The same total can be cut a second way, by the pool program that issues each token: SPL, Sanctum, Marinade and Lido. That cut is the daily table below; it is the same SOL counted differently, never something to add on top.
Staking directly instead?
Stake.Cake charges 0% on both inflation and MEV rewards, and has run on mainnet since 2023.
FAQ
Why do the yields differ so much between tokens?
Three things move them. Whether the pool insists its validators run the MEV-sharing client, which adds tips to the yield. The pool’s own cut. And the validator set it delegates to — a pool spread across weak operators earns less before any fee is taken. The APY column above is the staking yield the pools report, with their fee already deducted and no protocol token emissions mixed in; a headline rate quoted elsewhere may include emissions that can stop at any time.
Can a liquid staking token be worth less than the SOL behind it?
The redemption value only goes up — one token is redeemable for a little more SOL each epoch — but the market price can sit below it. That happens when a lot of people want out at once and the instant route is a swap rather than a redemption; a discount of a couple of percent under stress is ordinary. The patient route is unaffected: withdraw through the pool at the epoch boundary and you get the full value. It matters most if the token is posted as collateral, where a deeper discount can trigger a liquidation.
Why is this measured in SOL rather than dollars?
Because a dollar chart answers a different question. Value locked in dollars rises when the SOL price rises even if every holder is withdrawing, and falls in a sell-off even if deposits are flat. Counting SOL shows whether stake is actually arriving or leaving. The share tile does the same job for scale: 12.18% of all staked SOL, a ratio no exchange rate can move.