Nansen and Sanctum launch liquid staking token for Solana

Nansen and Sanctum have partnered to launch nxSOL, a brand new liquid staking token for Solana.

Liquid staking is taking off, particularly on Solana. On Wednesday, October 15, blockchain analytics platform Nansen and infrastructure agency Sanctum partnered to launch nxSOL, a liquid staking token for Solana. This token will allow SOL holders to earn staking rewards whereas retaining liquidity of their belongings.

The transfer marks a serious growth of Nansen’s staking operation that at the moment spans 20 chains with over 350,000 stakers. Nansen controls greater than $2 billion in staked belongings and can now increase into Solana, which has one of the vital lively liquid staking communities.

“nxSOL marks the subsequent chapter in Nansen’s staking journey, increasing our attain into Solana whereas staying true to our mission of creating onchain participation easy, liquid, and safe. It’s about unlocking new horizons for customers and builders as staking turns into an integral a part of the onchain economic system,” stated Alex Svanevik, CEO of Nansen.

Nansen companions with Sanctum for Solana liquid staking

Nansen’s companion on this operation is Sanctum, a Solana-focused infrastructure agency. Sanctum has almost $3 billion in belongings underneath administration and is likely one of the largest suppliers of liquid staking infrastructure in the marketplace.

“We’re proud to companion with Nansen to launch nxSOL. nxSOL is an unimaginable alternative to carry Solana to the 350,000 stakers Nansen has outdoors Solana. Sanctum’s mission is to carry actual yield on actual belongings to actual individuals, and this partnership is a giant step to furthering that mission,” stated FP, CEO of Sanctum.

As of Could 2025, greater than 67% of all Solana tokens are locked up in staking, incomes staking rewards for holders. Nevertheless, liquid staking accounts for simply 10% of that determine.