Liquid Staking Tokens on Solana: JitoSOL, jupSOL, mSOL Compared
A side-by-side comparison of Solana's top liquid staking tokens. Staking APY, MEV rewards, DeFi integrations, and risk profiles.
Liquid Staking Tokens on Solana: JitoSOL, jupSOL, mSOL Compared
Liquid staking is the foundation of Solana DeFi yields. You stake SOL, receive a liquid token that accrues staking rewards, and use that token across DeFi for additional yield. It's stacking returns without locking capital.
Three LSTs dominate Solana: JitoSOL, jupSOL, and mSOL. Each has a different approach to validator selection, MEV distribution, and DeFi integration. This post breaks down the differences.
The Basics
All three work the same way at a high level. You deposit SOL. The protocol stakes it across validators. You receive an LST that appreciates in value as staking rewards accumulate. When you want your SOL back, you unstake (1-2 epoch delay) or swap on a DEX instantly.
| Token | Protocol | TVL (SOL) | Base APY | MEV Boost | Total APY |
|---|---|---|---|---|---|
| jitoSOL | Jito | ~12M SOL | 5.8% | +0.5-0.7% | 6.3-6.5% |
| jupSOL | Jupiter | ~4M SOL | 5.6% | +0.3% | 5.9% |
| mSOL | Marinade | ~6M SOL | 5.5% | — | 5.5% |
JitoSOL
Jito built their reputation on MEV. Their validator client captures MEV (maximal extractable value) from transaction ordering and passes a share back to stakers. This adds 50-70 basis points on top of base staking rewards.
Strengths:
- Highest total APY consistently
- MEV rewards are real yield, not token emissions
- Largest LST by TVL on Solana
- Deep DeFi integrations (Kamino, Drift, Marginfi accept jitoSOL as collateral)
Considerations:
- MEV revenue varies with network activity. Bull markets = more MEV. Quiet periods = lower boost.
- Concentration risk: Jito validators handle a significant share of Solana blocks
- The JTO governance token adds complexity to the ecosystem
Best for: maximizing staking yield, using as collateral in lending protocols.
jupSOL
Jupiter's LST launched later but grew fast due to Jupiter's dominant position in Solana DeFi. jupSOL validators are selected by Jupiter's team, focused on performance and reliability.
Strengths:
- Backed by Jupiter's massive user base and treasury
- Tight integration with Jupiter swap routing (lower slippage on SOL pairs)
- Validator selection prioritizes uptime and low commission
- Growing acceptance as collateral
Considerations:
- Smaller TVL than jitoSOL means thinner liquidity in some DeFi markets
- MEV boost is lower than Jito's
- Relatively newer, less battle-tested
Best for: Jupiter ecosystem users who want staking yield with tight swap liquidity.
mSOL (Marinade)
Marinade is the OG liquid staking protocol on Solana. mSOL has been around since 2021 and survived every market cycle. Their validator set is the most decentralized of the three, using an algorithmic delegation strategy that spreads stake across 400+ validators.
Strengths:
- Most decentralized validator set
- Longest track record on Solana
- Native staking option (Marinade Native) for zero smart contract risk
- Deep liquidity across DeFi
Considerations:
- No MEV boost means lower total APY than Jito
- TVL has declined relative to competitors
- MNDE token rewards have diminished
Best for: users who prioritize decentralization and battle-tested security over maximum yield.
DeFi Composability
Where you can use each LST matters as much as the base yield.
As lending collateral:
- jitoSOL: Kamino, Marginfi, Drift, Save
- jupSOL: Jupiter Lend, Kamino, Marginfi
- mSOL: Kamino, Marginfi, Save, Drift
As LP pair:
- jitoSOL/SOL: Orca, Raydium (tight spread, minimal IL)
- jupSOL/SOL: Raydium, Meteora
- mSOL/SOL: Orca, Raydium (deepest historical liquidity)
Leverage looping:
- Deposit LST as collateral, borrow SOL, stake again. jitoSOL is most efficient for this because of higher base APY. Typical leveraged yield: 8-12% on SOL exposure (with liquidation risk).
Risk Comparison
| Risk Factor | jitoSOL | jupSOL | mSOL |
|---|---|---|---|
| Smart contract | Low (audited, 1+ year) | Low (audited, newer) | Low (audited, 3+ years) |
| Validator concentration | Medium | Medium | Low |
| Liquidity risk | Very Low | Low | Low |
| Governance risk | Medium (JTO) | Low | Medium (MNDE) |
| Depeg risk | Very Low | Low | Very Low |
All three LSTs have maintained tight pegs to SOL throughout 2025-2026. The biggest depeg events in Solana LST history were brief (hours, not days) and related to oracle delays, not fundamental issues.
Which One to Choose
Maximize yield: jitoSOL. The MEV boost is consistent and meaningful.
Simplicity + Jupiter ecosystem: jupSOL. If you're already using Jupiter for swaps and perps, keeping everything in one ecosystem reduces friction.
Decentralization maximalist: mSOL. Marinade's validator distribution is the most aligned with Solana network health.
Diversification play: split across two or three. The yield difference between them is 50-100 bps, which doesn't justify concentration risk for large positions.
The Bigger Picture
Liquid staking on Solana represents $5B+ in TVL. It's the base layer of the yield stack. Every percentage point of staking APY compounds when you add DeFi strategies on top (lending collateral, LP provision, leverage looping).
We track all LST yields, DeFi integrations, and risk scores on yieldwire.xyz. The data updates as validators report rewards each epoch.
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