Chorus One, the professional in operating validating nodes and staking services for Proof-of-Stake blockchain networks has put forward a proposal to the liquid Ethereum staker Lido. In order to provide decentralized network solutions to their validators on Solana.
Chorus One has put forward that its solutions will be to develop a ‘liquid staking token’ for Solana. However, this will accrue staking rewards and represent staking positions with Lido validators.
Sources are that Chorus One has requested 2,000,000 of invested tokens. In addition, with a share of 20% of the revenue from the protocol fees will go into the Lido’s exchequer.
The goals of Chorus One towards this expansion includes a 1 year rise to capture 2.5% of the staked SOL of Lido. Apart from this it also depicts that ‘when Lido for Solana acquires 25% of the total SOL staked, it will schedule 1,000,000 tokens to begin a 1 year investment.
Moreover, Lido mentioned that this expansion is set to bring a protocol fee setup. This is similar to the one which they receive from the Ethereum liquid staking. This provides a collection of 10% fee on staking rewards, split between the node operators-Chorus one and Lido.
Lido’s future is evidently bright and sunny. As its services currently hold 257,458 ETH from 5069 staker addresses mounting to overall 7.1 as the current APR. On the other side, Lido’s token $LDO is on soar to 54% in the last 24hrs and 216% to the week, according to CoinMarketCap.
All this denotes the certainty of a future in staking of liquid Solana to the fullest. Yet, let’s all wait towards the official announcement and the start reveal of this most anticipated and mutually benefited partnership.
