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Liquid staking gives you a token in exchange for your staked assets. That token earns staking rewards, and you can still sell it, swap it, use it as collateral or put it in a liquidity pool. You don’t have to choose between earning and staying liquid.

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Supported tokens

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How the token earns

Liquid staking tokens are reward-bearing. Your number of tokens stays the same, but each token becomes worth more of the underlying asset over time as rewards build up. Example. You stake 10 SOL when 1 mSOL is worth 1.25 SOL. You receive 8 mSOL. A year later, 1 mSOL is worth about 1.34 SOL. Your 8 mSOL can now be redeemed for about 10.7 SOL.

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Stake

1

Pick a token

Open Earn → Staking → Liquid and choose mSOL, osETH or sAVAX.
2

Enter an amount

DYXY shows the exchange rate and how many tokens you receive.
3

Confirm

The liquid staking token arrives in your wallet.

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Getting your assets back

You can exit a liquid staking position in two ways. Unstaking times through each protocol:
  • mSOL. Delayed unstake completes at the end of the Solana epoch, about 2 days.
  • osETH. Goes through the StakeWise exit queue, which depends on Ethereum’s validator exit queue. Usually a few days.
  • sAVAX. A 15-day cooldown, after which you have a 2-day window to claim your AVAX.
sAVAX must be claimed within the 2-day window after the cooldown. If you miss it, the AVAX stays locked until you restake it as sAVAX, and you have to request the unstake again, with a new 15-day cooldown.

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Using liquid staking tokens

  • Swap them on DYXY at any time.
  • Provide them as liquidity in Pools.
  • Supply them as collateral in Lend, where the market supports them.
Each use adds the risks of that protocol on top of the staking protocol’s risks.