Phantom Enters the Liquid Staking Race with PSOL Native Token

On May 14, Phantom launched its native liquid staking token, PSOL, allowing users to participate in $SOL staking while retaining liquidity for use in DeFi. PSOL liquid staking will be available directly in the Phantom Wallet, the most popular wallet app on the Solana network.

Phantom has made the staking interface user-friendly, even for traders unfamiliar with liquid staking. Users can access the feature by clicking “Start Earning $SOL” on the Solana token page in the app. However, users in some jurisdictions, such as the UK, will be excluded from this feature due to regulations prohibiting staking.

According to Phantom, the move to liquid staking is part of an effort to support the broader Solana ecosystem, which has seen rapid growth in liquid staking over the past few months. The total market cap of $SOL staking tokens was $7 billion in May. $SOL liquid staking tokens Jito, Binance, Marinade, and Jupiter make up the majority of this market. However, the value of these tokens has declined from an all-time high of $10 billion in the last week of January 2025.

Image: freepik

Designed by Freepik