Best Liquid Staking Platforms in 2025

Top Liquid Staking Platforms in 2025

Our intensive review of over 30 liquid staking protocols extends beyond Ethereum, examining options on networks like Solana and even unconventional picks like stablecoin staking.

We ranked these platforms based on metrics such as total value locked (TVL), staking returns, yield efficiency, DeFi composability, and protocol security, with detailed comparisons provided in the table below.

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1. Lido

Lido is the largest liquid staking protocol, capturing 17.6% of the DeFi market and 54.4% of the liquid staking sector. Launched in December 2020, it pioneered liquid staking by issuing stETH, which represents staked ETH while remaining usable across 300+ decentralized protocols.

Lido charges a 10% fee on staking rewards, which is shared between node operators and the DAO treasury. Governance, managed by the LDO token, oversees protocol updates and validator selection. Features include staking rewards starting within 24 hours of deposit and multi-chain support.

• Total Value Locked (TVL): Over $30.9 billion with 95%+ on Ethereum
• Supported Networks: Ethereum (stETH), Polygon (shut down), Solana (sunset)
• Current Yields: 2.98% for stETH
• Best DeFi Strategy: Provide liquidity for PXETH-STETH on Convex Finance for 7.55% APY

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2. Jito

Jito is the first liquid staking protocol on Solana that distributes Maximum Extractable Value (MEV) rewards to stakers. MEV refers to the additional value earned by optimizing transaction order during block production. Instead of keeping these rewards for validators, Jito shares them with stakers, increasing their returns.

When you stake SOL through the Jito Stake Pool, you receive JitoSOL, a liquid staking token that includes both staking and MEV rewards. Held by over 150,000 wallets, JitoSOL can be traded on Jupiter and other Solana DEXs for liquidity. Jito charges a 4% fee on rewards and a 0.1% withdrawal fee for unstaking, offering a flexible way to earn yield.

• Total Value Locked (TVL): $2.7 billion, or 14.5 million SOL
• Supported Networks: Solana
• Current Yields: 9.75% APY on JitoSOL
• Best DeFi Strategy: LP for JTO-JITOSOL pools on Orca or Kamino for 11-16% APY

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3. Ethena

Ethena is an unorthodox liquid staking protocol that brings a new perspective to stablecoins with its synthetic dollar, USDe. Unlike traditional fiat-backed stablecoins, USDe leverages a delta-neutral strategy, combining staked Ethereum (ETH) and Bitcoin as collateral with short futures positions.

At the heart of the protocol is Ethena Staked USDe (sUSDe), a liquid staked asset that accrues yield over time. sUSDe holders see their asset value increase without needing active management, as protocol revenue is reinvested directly into the staking contract. As of now, 1 sUSDe has a value of $1.14.

• Total Value Locked (TVL): $5.79 billion
• Supported Networks: Ethereum (USDe, sUSDe, USDtb), and Solana (USDe)
• Current Yields: 11% APY for sUSDe
• Best DeFi Strategy: LP or PT on Pendle for 20-50% APY

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4. ether.fi

Ether.fi is the leading liquid restaking protocol enabling users to maintain control of their validator keys while earning yield rewards. Ethereum stakers receive eETH, an LSD token that accrues rewards from Ethereum staking and native restaking in EigenLayer without locking up assets.

Ether.fi’s unique model uses Distributed Validator Technology and options for both small deposits and advanced solo staking. Rewards are distributed at 90% to stakers and 10% split between node operators and the protocol. As a bonus, Bitcoin users can explore the eBTC the liquid restaking token.

• Total Value Locked (TVL): $8.12 billion
• Supported Networks: Ethereum (eETH, eUSD, eBTC, weETHs, weETHk)
• Current Yields: 4.1% Staking APR + Liquid Vault APY 31.2%
• Best DeFi Strategy: Nothing that stands out currently

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5. Binance

Binance offers a convenient way to stake ETH with Wrapped Beacon ETH (WBETH), a LSD token representing staked Ethereum, priced at 1.0596 ETH currently. WBETH integrates into Binance’s ecosystem, supporting use cases like margin trading, DeFi protocols, and crypto-backed loans.

Binance’s liquid staking product captures 14.18% of the Ethereum liquid staking market, second only to Lido, and has a dynamic APR adjusted daily based on on-chain rewards, with a 10% fee on earnings. Binance also offers liquid staking for Solana (BNSOL), with a 4-day redemption period.

• Total Value Locked (TVL): 2,051,728 ETH (~$3.8 billion)
• Supported Networks: Ethereum, BNB Chain, Solana
• Current Yields: 2.76% APY for WBETH, 8.61% APY for BNSOL
• Best DeFi Strategy: Provide liquidity on Curve Finance for 20-70% APY

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What is Liquid Staking?

Liquid staking enables users to stake assets in proof-of-stake (PoS) networks while maintaining access to their funds through derivative tokens like stETH, JitoSOL, or WBETH.

Unlike traditional staking, where assets are locked and inaccessible, liquid staking tokens (LSTs) allow users to earn staking rewards while also participating in DeFi activities such as trading, lending, or providing liquidity.

Valued at $57.89 billion, liquid staking represents 32.61% of the decentralized market. If we include restaking and liquid restaking into the calculation, then the dominance grows to 54.31%.

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What are Liquid Restaking Platforms?

Liquid restaking platforms let users use staked assets, like stETH or eETH, to secure additional blockchain networks, known as Actively Validated Services (AVSs). This increases the security of multiple networks and makes staked assets more productive.

Platforms like EigenLayer on Ethereum and Babylon Chain on Bitcoin allow users to restake their assets for additional rewards while keeping their liquidity intact. Others, like Ether.fi and pSTAKE, simplify the restaking process with tools designed for easier participation.

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Are Liquid Staking Protocols Safe?

Liquid staking protocols are generally safer than many DeFi platforms due to simpler smart contracts and established mechanisms. Audits from firms like ConsenSys Diligence or STATEMIND are critical for identifying vulnerabilities and strengthening security.

Despite this, users should be aware of potential risks:

• Smart Contract Risks: Audited and tested contracts reduce risk, but vulnerabilities can never be entirely eliminated.
• Key Management Risks: User-controlled keys ensure decentralization but require careful handling to avoid loss.
• Regulatory Risks: Increased scrutiny could lead to restrictions on services or new taxes, affecting operations.

Platforms like ether.fi address these concerns through proactive safeguards, audits, and education, ensuring a balanced approach to safety.

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Final Thoughts

Liquid staking has redefined capital efficiency in DeFi, enabling users to earn rewards while retaining liquidity for deployment across decentralized applications.

Leading platforms like Lido, Jito, Ethena, Ether.fi, and Binance offer suitable staking options that cater to varying risk appetites with secure and high-yield options.

With innovations like restaking and stablecoin integrations broadening horizons, liquid staking continues to deliver innovative advancements that expand DeFi's use cases across the crypto ecosystem.