Solana Staking Program Launched by MoonPay: Flexible Accessibility and Impressive Returns
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**MoonPay Introduces Liquid Solana Staking with Impressive 8.49% Yield**
In a significant move, MoonPay has unveiled its latest innovation – a liquid staking program for the Solana blockchain, offering an annual yield of an impressive 8.49%. This groundbreaking feature is designed to provide users with unprecedented flexibility and accessibility in the decentralized finance (DeFi) space.
The introduction of this service further solidifies MoonPay’s position as a leading player in the digital asset operations industry. By leveraging its newly acquired BitLicense, the company can now offer this innovative staking experience to users across most regions worldwide, except for New York and the European Economic Area.
According to recent data, Solana staking has been gaining immense popularity due to its high average returns. The platform has recently witnessed a significant increase in institutional and retail interest, with the staking value temporarily surpassing Ethereum’s earlier this year. This surge is largely attributed to the rising appeal of higher-yield networks like Solana.
Institutions have begun to expand their exposure by investing in Solana-based exchange-traded products (ETPs) and acquiring bulk tokens. Moreover, notable companies such as Upexi and DeFi Development Corp have disclosed significant token purchases for long-term holdings. Robinhood has also entered the staking landscape by supporting both ETH and Solana staking services for its U.S. users.
The MoonPay liquid staking program allows users to stake their SOL tokens with a minimum investment of just $1, thereby opening up the opportunity for new entrants to the DeFi space. Users will receive a yield-bearing token called mpSOL in exchange for their participation, which they can instantly convert back into unstaked SOL at any time.
By simplifying the staking experience and eliminating technical hurdles commonly associated with existing platforms, MoonPay aims to bring a traditional savings-like experience to the blockchain community.
Source: coincentral.com
