Lido, Solana P2P to Run Lido on Solana

<p><br>On April 11, P2P took ownership of Lido on Solana becoming the new team in charge of its growth and development, with the goal to build-out the project in alignment with Lido’s, Solana’s and P2P’s values. <br><br>Liquid Solana Staking was launched on Lido in September 2021 with the collaboration of Chorus One as an initiative to grow the presence of Lido across staking networks. Thanks to the members involved, the project has reached 3,000,000+ SOL staked and achieved numerous stSOL integrations. P2P has been involved since the beginning of the year, participating in boosting TVL in collaboration with Lido through their incentivization program, Liquidity Providers launches and Protocols integrations.</p><p>Due to some organisational changes at Chorus One, a <a href="https://research.lido.fi/t/lido-on-solana-proposed-transition-from-chorus-one-to-p2p/1887">proposal was passed</a> to transfer the ownership of Lido on Solana to P2P. <br><br>“We are incredibly grateful to Chorus One for all their hard work on the development and initial launch of the project, they have laid a solid foundation for us to grow its success and presence within the flourishing Solana ecosystem.” - <strong><em>Vasiliy Shapovalov, CTO at P2P</em></strong><br><br>The exact terms and timelines of the transition to P2P can be found here: <a href="https://research.lido.fi/t/lido-on-solana-proposed-transition-from-chorus-one-to-p2p/1887">Lido on Solana - Proposed Transition from Chorus One to P2P.</a><br><br>Lots of work still needs to be done. Solana was among the networks with the highest growth in 2021 (going up to 6th in market cap) and the requirements and standards of the community are high.<br><br><em>“P2P Team has outstanding staking expertise in Solana. We will do our best to make Lido on Solana highly valuable for the ecosystem by improving validator conditions and standards, driving the DeFi ecosystem and increasing new users growth” </em><br>- <em><strong>Nikolai Abeliashev, Product Manager for Lido on Solana </strong></em><br><br>P2P Validator  have cemented themselves as one of the pillars of the staking community, working closely with each network to achieve maximum growth.<br></p><h2 id="plan-to-be-executed"><strong>Plan to be executed</strong></h2><p><br>As an initiative to improve Solana’s network performance &amp; security, and to empower the community, P2P plans to focus on improving Solana Network decentralisation by bringing new node operators and increasing the number of validators part of the Supermajority (a large group of validators that together control 66.66% of the total stake) into Solana on Lido’s set. The decision to add new node operators will be based on validator historic performance (parameters to be annotated soon), ecosystem participation and general validating experience purchased. Through educational programs and clear performance metrics, P2P will ensure a high standard of operations that will be available on a public dashboard with open validator performance data. Lastly, by providing clear commission instructions and by balancing the number of validators and stakes in the pool, P2P plans to fairly distribute the profitability for validators. <br><br>Further, with $300+ million in staked SOL, Lido on Solana can expand its presence within the <a href="https://solana.lido.fi/defi">Solana Defi Community</a> further through unique integrations with value-adding protocols, wallets and dapps, incentivisation programs and community initiatives.</p><p>A dedicated team has been set up to carry out the above plan and ensure what was promised, is delivered.<br><br>With Lido on Solana under new ownership, exciting times are ahead for the project.  Quality &amp; performance improvements, transparency of validation, boosting DeFi economics, and of course attracting more users are all in this year's goals.</p><h2 id="what-is-sol-liquid-staking"><br><strong>What is SOL liquid staking?</strong></h2><p><br>Liquid staking allows participants to earn staking rewards without the need to lock their assets or the need to maintain the infrastructure required.</p><p>stSOl is Lido’s liquid staking token for Solana. With it users can earn staking rewards while being able to participate in DeFi protocols at the same time. stSOL can also be exchanged at any time for SOL to let users instantly unstake their tokens without the need to wait for the cooldown. Unstaking directly from Lido is still possible but you are subject to the 3 day cooldown before you get access to your tokens.</p><p>stSOL is a wrapped token, this means that when staking with LIDO your staking rewards accrue to the wrapper and the value of stSOL increases over time. The current exchange rate of stSOL - SOl can be found in the <a href="https://solana.lido.fi/">staking page</a> at all times.</p><p>stSOL can be used in a variety of expanding DeFI protocols across the Solana ecosystem. A list of guides for different protocols can be found <a href="https://help.lido.fi/en/collections/3275637-liquid-staking-on-solana">here</a>. With liquid staking you can earn additional income on your tokens, while still earning staking rewards. For example, you can provide liquidity on a stSOL - SOL trading pair to earn fees from the pool on top of the staking rewards. Lido on Solana are looking to expand the number of protocols and use cases for stSOL so keep an eye out for new developments on their social media channels.</p><div class="kg-card kg-button-card kg-align-center"><a href="https://lido.fi/solana" class="kg-btn kg-btn-accent">Get started by visiting Lido on Solana! </a></div><p></p><h2 id="about-p2p-validator"><strong>About P2P Validator </strong></h2><p><br>P2P Validator began in 2018 with a mission to positively influence the development of POS technologies. Since our launch we have developed to become one of the largest staking service providers with more than 25,000 investors across 25+ different networks. We work closely with each network we support to push the developments of each project to new limits. We are firm believers in the value of decentralisation and participate in active governance across all supported networks to ensure the interests of the community are supported. We were honoured to be chosen as one of the validators for networks like Solana, Cosmos and Polkadot since the genesis block, a feat that shows the vote of confidence on P2P's ability to keep networks secure.</p><p>Beginning as seed investors and validating from the genesis block, we have shown tremendous support to the Solana ecosystem since day one and are now trusted with over $400m under management. Our proficiency is shown not only by our excellent validating track record &amp; our published research papers written on network performance (<a href="https://www.stakingrewards.com/journal/solana-validators-performance-research-report-part-1-downtime-analysis/">Downtime</a>, <a href="https://www.stakingrewards.com/journal/solana-validators-performance-research-report-part-2-skip-rate-analysis/">Skip Rate</a>, more to come) to improve the network health and development, but also by our involvement across projects including <a href="https://portalbridge.com/#/transfer">Wormhole Bridge,</a> <a href="https://pyth.network/">Pyth</a>, and <a href="https://neon-labs.org/">Neon EVM</a> to help build Solana’s network infrastructure.</p><hr><p>If you have any questions, feel free to join our<a href="https://t.me/P2Pstaking"> Telegram chat</a>, we are always open for communication.<br><br><br><br><br></p>

Romain Van Der Cam

from p2p validator