Liquid Stake with compassSOL for an 7.15% APY from staking, MEV + fees

Enjoy the freedom of liquid staking in Solana Defi while delegating your stake to the high performance Solana Compass validator. Stake or unstake at any time here, or with a Jupiter swap.

Benefit from our high staking returns and over 2 years experience operating a Solana validator, and receive additional yield from priority fees + MEV tips

Earn 6.6% APY staking with Solana Compass

Help decentralize and secure the Solana network delegating your stake to us and earn an impressive 6.6% APY yield on your SOL, while supporting us to create new guides and tools. Learn more

Stake your SOL

  1. Click to connect your wallet
  2. Enter the amount you wish to stake
  3. Kick back and enjoy your returns
  4. Unstake from your wallet or our staking dashboard

Earn 6.6% APY staking with Solana Compass

Help decentralize and secure the Solana network delegating your stake to us and earn an impressive 6.6% APY yield on your SOL, while supporting us to create new guides and tools.

Learn more

Solana's History: When Was SOL launched?

Published on 2020-10-06

Solana is one of the fastest and most functional web-scale projects that leverage the features of programmable blockchain technology to deliver Decentralized Finance (DeFi) solutions. Read on to learn why this cryptocurrency is making waves


When Was Solana Launched?

We can trace back the origin of Solana to late 2017, when creator, Anatoly Yakovenko, released a draft whitepaper outlining a novel timekeeping method for distributed systems called Proof of History (PoH). Anatoly formerly worked at Dropbox and Qualcomm and specialized in developing compression techniques and distributed systems.

One of the scalability constraints in blockchains such as Bitcoin and Ethereum is the time needed to achieve an agreement on the sequence of transactions. Anatoly felt his innovative method might automate the transaction sorting process for blockchains, offering a critical component that would allow crypto networks to grow well beyond their current limits.

Yakovenko later collaborated with Greg Fitzgerald, a former Qualcomm colleague, to create a proof-of-history blockchain Testnet. Fitzgerald now occupies the role of Chief Technology Officer (CTO) at Solana. The two published the project's first official paper and the internal Testnet in February 2018.

Another former colleague of Yakovenko, Akridge Stephen, proposed that outsourcing signature verification might boost transaction performance. Greg and Stephen, alongside three others, joined Anatoly at Solana to start the company that later became Solana Labs.

The veteran team that started Solana also included some former Apple engineers. Initially, they called the project “Loom” but later changed it to prevent confusion with the Loom Network, a prominent multichain Ethereum interoperability service.

In the second quarter of 2018, Solana Labs started gathering money to develop its new crypto network. Multicoin Capital led a financing round for Solana and generated about $20 million in private token sales by the end of July 2019.

The fundraising campaign coincided with Solana's development on the protocol. This went through various permissionless Testnet stages until the company announced the Tour de SOL public incentive Testnet in the third quarter of 2020.

Solana's beta Mainnet debuted in March 2020, with innovative contract features and basic transaction capabilities, after gathering an additional $1.76 million through its inaugural auction on Coin list.

Solana Labs is still the network's primary contributor. On the other hand, the Solana Foundation, a non-profit headquartered in Zug, Switzerland, assists in financing continuing development and expanding the blockchain's community-building activities.

Related Content

What is Solana? How Does It Work?

Solana is one of the fastest and most functional web-scale projects that leverage the features of programmable blockchain technology to deliver Decentralized Finance (DeFi) solutions. Read on to learn why this cryptocurrency is making waves

Where to buy Solana: How to invest on an exchange or DEX

Solana is one of the fastest and most functional web-scale projects that leverage the features of programmable blockchain technology to deliver Decentralized Finance (DeFi) solutions. Read on to learn why this cryptocurrency is making waves

Solana (SOL) Explained: Your Guide To The Fastest Cryptocurrency

Solana is one of the fastest and most functional web-scale projects that leverage the features of programmable blockchain technology to deliver Decentralized Finance (DeFi) solutions. Read on to learn why this cryptocurrency is making waves

Services DAO that hosts AthensDAO (feat. Takisoul of Dean's List DAO) - Solfate Podcast #38

Explore how Dean's List DAO is revolutionizing decentralized services, building network states, and fostering community growth in the Solana ecosystem.

Building A World Free Of Currencies - Prophet (MetaDAO)

MetaDAO creator Prophet explores futarchy, decentralized governance, and a world without currencies in this in-depth discussion on the future of blockchain technology.

Token Extensions and Solana's Long-Term Strategy with Austin Federa

Austin Federa discusses Solana's innovative token extensions, mobile strategy, and vision for the future of blockchain technology and adoption.

Solana Changelog May 23 - Lite RPC, Programmable Smart Wallets, and Idle Games

Explore Solana's cutting-edge developments in Lite RPC, programmable smart wallets, and idle game creation. Learn how these advancements are shaping the future of blockchain technology.

Validated | Does Blockchain Need Its Own Section 230?

Explore the implications of Section 230 for blockchain technology and the potential need for new legislation in the rapidly evolving digital landscape.

The State Of Solana In 2024 | Austin Federa

Explore the current state of Solana with Austin Federa, discussing economic security, meme coins, network growth, and the future of blockchain technology.

Solana vs Ethereum Debate ft. Anatoly & Toghrul

Anatoly Yakovenko and Toghrul Maharramov debate the future of blockchain scalability, exploring decentralization, economic security, and trustless bridges in this in-depth discussion.

Solana Legend Unleashed - Crypto Adoption, Investing Thesis, and Solana's Future

Dive into the world of Solana with insights from Solana Legend on crypto adoption, next-generation blockchains, and why Solana is poised to lead the future of blockchain technology.

Drift: Can This Solana DEX Compete With Binance? | Cindy Leow, Chris Heaney

Discover how Drift is building the future of decentralized finance on Solana, offering a unique liquidity trifecta and aiming to compete with centralized exchanges like Binance.

Validated | Crypto-Powered Physical Infrastructure with Sami Kassab

Explore how Decentralized Physical Infrastructure Networks (DePIN) are transforming traditional infrastructure models using blockchain technology and token incentives.

Solana Changelog - Token Extensions and Transaction Size Fees

Explore Solana's latest developments including token extensions, transaction size fees, and the upcoming Mountain Dew 5 event in this comprehensive changelog.

Fastest blockchain payments on Solana with Sphere Pay

Discover how Sphere Pay is transforming cross-border payments and remittances using Solana's blockchain technology. Learn about the challenges of correspondent banking and the potential of decentralized finance.