StakePoint
Solana DeFi Glossary
Definitions of key terms used in Solana DeFi, token locking, LP locking, and staking. Published by the StakePoint team.
SOL
The native cryptocurrency of the Solana blockchain, used to pay transaction fees and for staking.
Definition
SOL is the native cryptocurrency of the Solana blockchain. It serves two primary functions: paying transaction fees for all on-chain activity, and securing the network through validator staking.
SOL is required to interact with any Solana application — a small amount of SOL is needed in every wallet to pay for transaction fees and rent. Without SOL, users cannot execute transactions, create token accounts, or interact with smart contracts.
SOL can be purchased on centralised exchanges and bridged to Solana wallets. Its price is tracked on all major cryptocurrency platforms and it ranks among the largest cryptocurrencies by market capitalisation.
StakePoint & SOL
A small amount of SOL is required to use StakePoint — it covers Solana network transaction fees for creating locks, staking, unstaking, and claiming rewards. StakePoint does not accept SOL as a token to lock or stake.
Related Pages
Frequently Asked Questions
What is SOL?
SOL is the native cryptocurrency of Solana. It is used to pay transaction fees and is required in every wallet to interact with Solana applications.
How much SOL do I need to use StakePoint?
A small amount of SOL is needed to cover network transaction fees. Most operations cost less than $0.01 in SOL fees.
Related Terms
Solana Mainnet
The live production blockchain network of Solana where real transactions occur.
Transaction Fee (Solana)
The small SOL fee paid to validators for processing transactions on Solana.
Solana Wallet
A software application that stores Solana private keys and signs on-chain transactions.
Solana DeFi
Decentralised finance applications built on the Solana blockchain.
Validator
A network participant that processes transactions and maintains the Solana blockchain.