Digital Asset Treasury company SOL Strategies Inc. has launched $STKESOL, a liquid staking token (LST). As is typical of LSTs, token holders earn staking rewards while keeping their assets usable across DeFi applications.
The SOL Strategies team aims to stake more than 500,000 $SOL through $STKESOL at launch and to have the token integrated with several established DeFi platforms, such as Kamino and Loopscale.
SOL Strategies trades publicly under the symbols CSE: HODL and NASDAQ: STKE, and it currently holds over 427,000 $SOL in its treasury while continuing to focus on building infrastructure and services that support the long-term development of the Solana ecosystem.
What Has SOL Strategies Been Up To?
SOL Strategies, a Canadian holding company formerly known as Cypherpunk Holdings, began acquiring $SOL in June 2024 as part of a strategic shift towards deeper participation in the Solana ecosystem. The firm rebranded as SOL Strategies in September 2024, signaling a clearer long-term focus on the Solana ecosystem.
Since the rebrand, the company has steadily expanded its onchain operations through validator acquisitions and strategic investments. SOL Strategies acquired several well-known and established valdators including Cogent, OrangeFin Ventures, and Laine. These acquisitions brought experienced operations, strong performance records, and existing delegations under a single umbrella while preserving each validator’s role within the network.
Through these efforts, SOL Strategies increased the amount of $SOL staked across its validator operations to approximately 3.3 million $SOL. This expansion positioned the company as a meaningful contributor to Solana’s network security and reliability. Rather than concentrating stake within a single operation, the company emphasized operational diversity and continued participation across multiple validators.
In parallel, SOL Strategies pursued ecosystem exposure beyond validator operations. In June 2025, the company acquired over 52,000 $JTO tokens and announced the formation of a strategic ecosystem reserve aimed at supporting additional Solana-based projects.
$STKESOL builds on this foundation by extending the company’s existing validator and staking infrastructure into a pooled, multi-validator format. The product reflects capabilities that SOL Strategies developed over time, rather than a departure from its established direction.
"$STKESOL demonstrates our ability to build innovative technology that creates value for users and the entire Solana network while generating revenue for our business. This product leverages our core strengths and expertise in the Solana staking ecosystem to support dozens of Solana validators while offering a new liquid staking option to customers in the rapidly growing liquid staking market.” - Michael Hubbard, Interim CEO of SOL Strategies
Market Context for Liquid Staking Tokens
Liquid staking on Solana has entered a period of strong growth in recent years. SolanaFloor Data Analytics shows that as of early January 2026, approximately 454 million $SOL are staked across the network, with liquid staking tokens accounting for about 14.06% of that total, with 63.8 million $SOL parked in LSTs. Since mid 2023, LST adoption has increased steadily as DeFi platforms expanded their support for these assets.
The network’s LST staking rate rose from roughly 10% in January 2025 to nearly 14% in January 2026. Native staking still dominates overall participation, suggesting there is room for LSTs to capture market share.
Other companies have also explored similar models. In May 2025, fellow Solana DAT DeFi Development Corp. launched $dfdvSOL, an LST built with infrastructure from Sanctum and backed by delegated stake to its own validators. Centralised exchanges Binance, Bybit, and BitGet also launched $BNSOL, $bbSOL, and $BGSOL, respectively, as their first step into the Solana LST market.
In July 2025, Rex-Osprey’s Solana Staking ETF became the first U.S. ETF to include an LST in its composition with the inclusion of $jitoSOL.
These initiatives reflect rising institutional interest in liquid staking as a way to improve capital efficiency while maintaining network security.
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