- MoonPay simplifies Solana staking, allowing users to start with as little as $1 and offering an 8.49% annual yield.
- Users receive mpSOL, a liquid staking token, enabling them to unstake their SOL at any time without lockup periods.
- This launch comes as Solana staking sees increased interest and institutional adoption, with ETFs and major firms boosting SOL holdings.
MoonPay, a crypto payments firm, just launched a new offering called Solana staking. Solana holders can now stake their SOL. This liquid staking program offers an 8.49% annual yield.
Users can start with just $1 in Solana. They receive an mpSOL token. Rewards are paid roughly every two days. Plus, users can unstake their funds anytime. There’s no lockup period.
This feature began on July 23. It’s available globally, except for New York and the EEA. MoonPay enters a competitive market. Solana-native platforms like Marinade and Jito offer similar products.
MoonPay CEO Ivan Soto-Wright stated their goal. He said they’re “removing barriers” to crypto rewards. He added it’s like a savings account, but with blockchain’s earning power.
This launch follows a surge in Solana staking interest. In April, Solana briefly topped Ethereum in total value staked. Its yield is higher, too. Firms like DeFi Development Corp and Upexi are buying large amounts of SOL. A Solana staking ETF also launched recently. Robinhood is also offering ETH and SOL staking to US customers.
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