By Ollie H - Cryptocurrency Broker - 30-04-2021
A popular ETH 2.0 and Terra staking service is currently branching out to look for opportunities to grow into more Proof-of-Stake (PoS) chains, first up on the list is Solana.
Chorus One, a well-known crypto infrastructure provider, proposed today on Lido's governance forums to make "a liquid staking token (for now: stSOL) that will accrue staking rewards and represent staking positions with Lido validators on Solana."
It’s reported that Solana (SOL) is a crypto coin to invest in that has plenty of potential to grow. It’s popular amongst new and experienced traders to invest in cryptocurrency token SOL because it is a fast, secure and censorship resistant blockchain providing technology for worldwide adoption.
Chorus One remains optimistic as they arrange to "capture 2.5% of the staked SOL supply". The plan is to use 1,000,000 tokens to start their full-year vesting plan for when they gain 25% in crypto staking rewards from SOL. Chorus One is currently the largest SOL stakeholder, with $600 million in cryptocurrency investments 2021.
Reportedly on Lido's website, the service currently has accounted for 256,964 Ethereum (ETH) staked (worth over $700 billion) across nearly 5000 emails, receiving 7.1% APY, and being the third-largest staking pool, per Nansen. It's reported that as soon as ETH 2.0 is released, APY rewards would skyrocket.