June 27th marks the day that staking on Solana is reimagined on mobile. Slope is integrating Lido, a DeFi staking protocol traditionally focused on Ethereum. This will give users a new way to stake Solana, and an array of novel staking features, including:
- Instant Liquidity
- Immediate Appreciation
- One-click staking
- Decentralized Security
Value-Adds & Feature Set
Instant liquidity is really meaningful, as it means no delegation or activation delays when users sell or unstake Solana. When users deposit or stake Solana, they immediately start earning from the pool the second it is staked. Once staked, the Sol turns into stSol and instant appreciation is reflected in the balance of the stSOL. Lido supports these stake and unstake features through the use of ‘one-click’, creating a simple, yet digestible approach to staking. Additionally, all staked assets are spread across the leading validators on Solana which are chosen by the Lido DAO. This decentralized approach to security further protects the safety of staked assets on Lido.
Video demo of these new staking features on Slope Wallet:
“Slope Finance is a cross-chain wallet and web3 explorer. It provides functionalities that allow users to safekeep digital assets in self-custody, native access to the most important DeFi use cases, NFT marketplaces, and Dapp interactions across the Solana, Ethereum, and BNB ecosystems. Slope Wallet is available as a mobile app on iOS, Android, Huawei, and on Chrome as a browser extension.”
Lido provides “simplified and secure staking for digital assets” while also offering “liquidity for staked assets.” Lido is an inventive staking protocol that allows users to receive instant appreciation on staked assets while providing instant liquidity when needed. These features have driven significant early adoption & usership on Solana, with Lido already reaching $73M+ in TVL on Sol, as it concurrently drives further decentralization of the Solana network.
This partnership showcases the continued wave of DeFi DApps being integrated through a variety of crypto products for easier/native access; wallets of course highlighted here.
These wallet integrations give mobile and desktop users easy, highly efficient, and curated access to top DeFi protocols. We at Sope are ecstatic to partner with Lido, and they are among many more DeFi protocol integrations and partnerships to-come.
The future of web3 is mobile and this partnership symbolizes another early bridge, connecting mobile users with innovative DApps.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Michigan Journal USA journalist was involved in the writing and production of this article.