Liquid Staking Protocols

Echo Protocol operates a comprehensive Bitcoin liquid staking infrastructure that accepts native BTC along with a wide range of wrapped and LST variants including fBTC, wBTC, uBTC, oBTC, enzoBTC, PumpBTC, and LBTC, and converts them into a single unified BTC token. This LST Infrastructure Layer maintains a 1:1 peg through real-time Proof-of-Reserve verification powered by Chainlink and Redstone oracles, eliminating depegging risk and improving pricing efficiency across the entire BTC ecosystem. For native BTC deposits, Echo first stakes them on Bitcoin restaking platforms including Babylon, EigenLayer, and Symbiotic, capturing base-layer restaking yield before the unified token is minted on the target chain. Echo liquid staking approach solves the fragmentation penalty that Bitcoin holders face when navigating dozens of incompatible BTC standards across DeFi. By aggregating supply and applying strict on-chain and off-chain due diligence to each accepted asset before integration, Echo accumulated over 641 million in TVL across its vaults as of early July 2025, with a peak of 878 million in May 2025. The unified BTC standard enables Solana users to access Bitcoin deep capital base within high-throughput Solana DeFi without managing multiple wrapped positions individually.

TruFin (now operating as TruYields) is an institutional liquid staking protocol that issues yield-bearing receipt tokens when regulated entities deposit native layer-1 assets. On Solana, depositing SOL through the TruStake SOL Vault mints TruSOL, which became generally available to institutional participants on September 25, 2025. The protocol is permissioned at the mint/burn layer — only KYC/AML-approved wallet addresses can interact directly with the smart contracts — while TruSOL itself transfers freely across DeFi once issued, preserving capital efficiency without sacrificing compliance controls. The product targets regulated financial institutions, asset managers, and digital asset treasuries that are unable to participate in fully permissionless liquid staking protocols. TruSOL integrates with institutional custodians including Anchorage Digital, Copper, and Utila, and is supported by FalconX and GSR for OTC liquidity and prime brokerage. Smart contracts were independently audited by Halborn, with an ongoing Immunefi bug bounty for continuous security incentivisation. TruSOL is accepted as collateral within Kamino, giving institutions a route into broader DeFi yield while remaining within a permissioned wrapper.

StaFi Protocol is a multi-chain liquid staking platform that issues rTokens—tradeable derivative tokens representing staked assets—across Ethereum, BNB Chain, Cosmos, Solana, and other proof-of-stake networks. On Solana, the rSOL product lets users stake SOL and receive a liquid token that bypasses the standard three-day unstaking cooldown, with the rSOL exchange rate rising continuously as staking rewards accumulate. rSOL was updated in early 2024 to run natively on Solana mainnet, removing the previous requirement to bridge through StaFiChain. StaFi distributes deposited SOL across multiple validators using an automated selection strategy that factors in uptime, commission rates, slashing history, and self-bond ratios, rebalancing delegations each epoch. Redemptions carry a 0.2% fee and take approximately five days to process, while the staking commission is capped at 20% of rewards split between validators and the protocol treasury. StaFi has also integrated with Solayer, allowing rSOL holders to layer restaking rewards on top of base staking yield for additional return potential.

RHEA Finance introduced a native liquid staking token for NEAR Protocol in August 2025, allowing users to stake NEAR and receive a yield-bearing token that retains liquidity and can be deployed elsewhere within the protocol. The liquid staking offering is integrated directly alongside RHEA's DEX and lending products, so users can put staking yields to work rather than leaving capital idle in a standalone staking interface. The liquid staking token fits into RHEA Finance's broader goal of operating as a unified liquidity hub for NEAR-based DeFi. Rather than routing staking through a separate protocol, users can stake NEAR and immediately deploy the resulting LST as collateral in RHEA's overcollateralized lending markets or as liquidity in its AMM pools. This consolidation allows capital to earn staking rewards while simultaneously serving other productive functions within the same protocol ecosystem.