SOL Strategies deepens Solana footprint with STKESOL liquid staking token

SOL Strategies, a Solana treasury and infrastructure firm, has introduced STKESOL, a new liquid staking token backed by more than 500,000 SOL at its launch. This product adds a new revenue stream alongside its existing validator operations and strategic SOL holdings, allowing users to earn staking rewards while maintaining liquidity for use in Solana's DeFi ecosystem, including platforms like Orca and Kamino. STKESOL employs an automated delegation strategy that distributes staked SOL across numerous validators, using the "Wiz Score" from Stakewiz.com to ensure performance and reliability, thereby mitigating concentration risk and supporting network decentralization. SOL Strategies, formerly Cypherpunk Holdings, generates revenue through deposit fees and a percentage of the staking rewards pool. The company currently holds approximately $67 million in SOL.

(Source：The Block)