Nansen and Sanctum Launch Solana Liquid Staking Token

Why It Matters

The rollout broadens Solana’s liquid staking market, boosting flexibility and on‑chain utility for users and potentially accelerating DeFi activity and decentralization on the network.

Summary

Nansen and Sanctum launched nxSOL, a Solana liquid staking token that lets users earn SOL staking rewards while keeping liquidity to withdraw or deploy in Solana’s DeFi ecosystem. The move arrives as Solana’s TVL tops $13 billion, Sanctum’s TVL has surged to $2.5 billion, about 68% of SOL supply (≈372M tokens, ~$74.5B) is staked with an average yield near 4.38%, and established LSTs like JitoSOL and mSOL hold roughly $2.9B and $835M TVL respectively. The rollout broadens Solana’s liquid staking market, boosting flexibility and on‑chain utility for users and potentially accelerating DeFi activity and decentralization on the network.