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#Solana Staking ETF
Solana Token (SOL) – Overview
Solana (SOL) is the native cryptocurrency of the Solana blockchain, a high-performance platform designed for fast and low-cost decentralized applications (dApps) and smart contracts.
🔑 Key Points:
1. Symbol: SOL
2. Launched: 2020
3. Blockchain Type: Layer 1 (independent chain, not built on Ethereum)
4. Speed: Up to 65,000 transactions per second (TPS)
5. Transaction Fees: Extremely low (often less than $0.01)
⚙️ Features:
Proof of History (PoH): Unique consensus mechanism that improves speed and efficiency.
Scalability: Handles thousands of transactions without relying on Layer 2 solutions.
Ecosystem: Hosts a wide range of projects including DeFi, NFTs, gaming, and Web3 apps.
Compatible Wallets: Phantom, Solflare, Ledger, Trust Wallet.
💼 Use Cases of SOL:
Paying transaction/gas fees on the Solana network.
Staking for network security and earning passive income.
Governance (future plans): May allow SOL holders to vote on protocol upgrades.
Used in dApps like decentralized exchanges (Jupiter, Orca), NFT platforms (Magic Eden), and more.
📈 SOL Market Summary (as of mid-2025):
Market Cap: Among top 10 cryptocurrencies.
Popularity: Strong developer community and increasing adoption in Web3 and NFT space.