Best Liquid Staking Platforms on Ethereum, Solana & More

Top Liquid Staking Platforms

In our detailed analysis of over 20 centralized and decentralized finance platforms, we identified the top liquid staking solutions. Our focus was on key metrics like staking yields, audit history, user interface, fees and overall market liquidity. From this, we selected five platforms that stood out in their respective ecosystem with strong yields and reliable liquid staking tokens (LSTs) for investors.

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1. Lido Finance

Lido is the top TVL application in DeFi, including the liquid staking sector, with over $24.7 billion on Ethereum and $54.6 million on Polygon. As a decentralized, non-custodial platform, Lido enables users to stake ETH and MATIC while maintaining liquidity through liquid staking tokens stETH and stMATIC.

When staking ETH with Lido, users receive stETH, a liquid staking derivative that not only tracks the value of the staked ETH but also accrues rewards at an APR of 2.8%. Similarly, MATIC stakers receive stMATIC, with an attractive APR of 4.41%. These tokens are widely integrated across applications like AAVE and Renzo where users can redeposit for additional yields.

• Supported Networks: Ethereum, Polygon
• Current Yields: 2.8% APR for Ethereum, 4.41% APR for Polygon
• Total Value Locked (TVL): $24.7 billion on Ethereum, $54.6 million on Polygon
• Liquid Staking Derivatives: stETH for Ethereum, stMATIC for Polygon

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2. Jito

Jito is the premier liquid staking platform on Solana, incorporating MEV (Maximum Extractable Value) rewards into its staking model. With over 13 million SOL in TVL, JitoSOL is the largest MEV-powered staking pool on Solana, offering a competitive 7.58% APY. By staking SOL with Jito, users receive JitoSOL tokens, which combine staking rewards with additional MEV returns, maximizing yield.

JitoSOL allows users to retain liquidity while their SOL tokens are staked. These tokens can be deployed across various DeFi platforms, maintaining capital efficiency while earning rewards. The platform exclusively stakes with MEV-enabled validators, greatly increasing individual user yields and the efficiency of the Solana network.

• Supported Network: Solana
• Current Yields: 7.58% APY
• Total Value Locked (TVL): 13.1 million SOL
• Liquid Staking Derivative: JitoSOL

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3. Stride

Stride is the leading liquid staking platform for the Cosmos ecosystem, making it the go-to choice for projects like Celestia, DYDX, and DYM. As the largest liquid staking solution within the Cosmos network, Stride supports 16 tokens, including ATOM, OSMO, and SAGA, with a total value locked (TVL) of $67.6 million.

When you stake with Stride, you receive liquid staked tokens (LSTs) like stATOM, which allow you to earn staking rewards while keeping your assets liquid. Stride’s security is bolstered by 10 comprehensive audits and interchain security provided by the Cosmos Hub. Governance is community-driven through the STRD token, ensuring decentralized control over protocol updates.

• Supported Networks: Cosmos (including ATOM, DYM, DYDX, and more)
• Current Yields: Variable, based on the token
• Total Value Locked (TVL): $67.6 million
• Liquid Staking Derivatives: stATOM, stOSMO, stDYM, and others

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4. Rocket Pool

Rocket Pool is the most decentralized liquid staking solution for Ethereum, offering a trustless, non-custodial platform that stays true to Ethereum's core principles. Users can stake as little as 0.01 ETH to mint rETH, earning an APR of 2.23%. This liquid staking token is usable across DeFi platforms like AAVE and Spark for liquidity or collateral while still generating rewards.

For those interested in running a validator, Rocket Pool enables node staking with just 8 ETH, offering a higher APR of 4.37% plus RPL rewards. This option not only boosts returns but also bolsters Ethereum's decentralization and security. Rocket Pool's decentralized governance and strong security make it the top choice for those committed to Ethereum's decentralized ethos.

• Supported Network: Ethereum
• Current Yields: 2.23% APR for rETH, 4.37% APR for node operators
• Total Value Locked (TVL): $3.1 Billion or 739,328 ETH 
• Liquid Staking Derivative: rETH

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5. Coinbase Ethereum (cbETH)

Coinbase Ethereum (cbETH) provides a safe way to stake ETH while keeping it liquid. By wrapping staked ETH (ETH2) into cbETH, users earn staking rewards with the flexibility to trade, transfer, or use their assets in DeFi. Backed by Coinbase’s decade-long security track record and status as a publicly listed exchange, cbETH offers investors peace of mind.

cbETH integrates smoothly with DeFi platforms like Uniswap and Curve, allowing users to maximize yields without lockup constraints. Wrapping and unwrapping ETH2 is straightforward, making cbETH accessible for all stakers. Coinbase’s rigorous security measures minimize risks, ensuring your staked ETH earns rewards while remaining fungible within DeFi.

• Supported Network: Ethereum
• Current Yields: 2.05% APR minus 20% Coinbase fee
• Total Value Locked (TVL): $525 Billion or 208,000 ETH
• Liquid Staking Derivative: cbETH

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What is Liquid Staking?

Liquid staking allows users in Proof-of-Stake (PoS) networks to stake assets while retaining liquidity through derivative tokens such as stETH of Lido or cbETH of Coinbase. Unlike traditional staking, where tokens are locked, liquid staking lets users earn staking rewards and use stETH or cbETH in DeFi activities like trading, lending, or providing liquidity. 

This method boosts capital efficiency by combining the benefits of staking with the flexibility to pursue additional yields within the crypto ecosystem.

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What are Liquid Restaking Platforms?

Liquid restaking platforms allow users to extend the utility of staked assets like stETH by securing additional blockchain protocols, known as Actively Validated Services (AVSs). This approach enhances security across multiple networks, increasing the economic value of the staked assets. For example, EigenLayer enables users to restake Ethereum to support AVSs, bolstering their security.

‍Renzo, as an example, offers liquid restaking tokens (LRTs) like ezETH, which provides an additional 3.1% yield when restaking stETH. These LRTs maintain liquidity, allowing for trading or reinvestment in DeFi, while Renzo handles the complexities of securing various AVSs, optimizing both yield and asset flexibility.

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Are Liquid Staking Protocols Safe?

The safety of liquid staking protocols depends on the quality of security audits conducted on their smart contracts. Audits from respected firms like STATEMIND or ConsenSys Diligence play a crucial role in identifying and addressing vulnerabilities, enhancing the security of the platform. Another key indicator of safety is the platform’s Total Value Locked (TVL).

For instance, Lido Finance, with the highest TVL among liquid staking protocols, reflects strong trust and security within the crypto community. A high TVL suggests robust security measures and significant community confidence, making it an essential factor in evaluating the safety of a liquid staking platform.

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Bottom Line

In conclusion, liquid staking platforms are a zero-to-one innovation in capital efficiency for DeFi, enabling users to earn staking rewards while maintaining liquidity for active deployment in decentralized applications. 

Leading platforms like Lido, Jito, Stride, Rocket Pool, and Coinbase Ethereum (cbETH) each provide secure, high-yield staking options tailored to their respective ecosystems. Additional staking protocols are also available to secure secondary services (e.g. AVSs) and earn additional yields through EigenLayer and more.