Nansen Expands Into Solana Ecosystem with nxSOL Liquidity Staking Token

Nansen, renowned for its on-chain AI analytics expertise, has partnered with Solana liquidity solution provider Sanctum to introduce a groundbreaking Liquidity Staking Token (LST) called nxSOL. This launch marks Nansen’s entry into the Solana ecosystem and represents a strategic milestone in its established staking operations, which already boast a staggering $1.8 billion in Total Value Locked (TVL) and over 350,000 active participants across several blockchain networks.

Empowering Solana Stakers with New Opportunities

nxSOL redefines staking by offering SOL holders the dual benefits of staking rewards and liquidity. Through Nansen’s validator nodes, users can stake SOL and receive nxSOL tokens in exchange. These tokens are versatile, functioning not only as proof of staking but also as collateral within Solana’s decentralized finance (DeFi) ecosystem for added yield-generation opportunities.

Currently, Nansen’s validators manage approximately $250 million in TVL while offering competitive annual percentage yields (APY) of around 6.7%. Alex Svanevik, Nansen's CEO, highlighted, “nxSOL is a pivotal step in our mission to make on-chain participation simple, liquid, and secure. By venturing into the Solana ecosystem, we’re expanding staking opportunities for both individual users and developers. Our solution aims to become an essential component of on-chain economies.”

Svanevik also shared plans to integrate nxSOL with additional DeFi applications, broadening its utility and accessibility within the ecosystem.

Leveraging Sanctum’s Staking-as-a-Service Infrastructure

The infrastructure behind nxSOL, covering token issuance, yield accumulation, and composability, is powered by Sanctum's advanced Staking-as-a-Service framework. Sanctum stands as the sole provider on Solana that allows projects to effortlessly create and manage branded LSTs. This capability includes tailored validator logic and redemption stipulations, granting teams full control over their staking solutions.

Other prominent projects, such as Bybit, Jupiter, and Pudgy Penguins, have already adopted Sanctum’s infrastructure for their own staking initiatives. Sanctum’s CEO expressed enthusiasm for the collaboration with Nansen, stating, “This partnership bridges Nansen’s extensive community of 350,000 stakers from other blockchain ecosystems to Solana. It aligns seamlessly with our mission of enabling real assets to deliver real yields and represents a monumental step toward realizing that vision.”

The Benefits and Functionality of nxSOL

nxSOL is designed for seamless user experience, enabling stake participation with amounts as small as $1 worth of SOL. Upon staking, users receive nxSOL tokens as representations of their principal investment and the accumulated staking rewards. These rewards are auto-compounded into the token value around every 48 hours, simplifying yield management for users.

A major advantage of nxSOL lies in its absence of lock-up periods or redemption delays. Users have the flexibility to convert nxSOL back to SOL at any time, ensuring liquidity that adapts to their needs. Currently, nxSOL is accessible for staking and exchange via platforms like Jupiter and the Sanctum app.

To further solidify their collaborative relationship, Nansen recently disclosed its acquisition of Sanctum’s governance token, CLOUD, on the open market—a move symbolizing mutual trust and long-term commitment. Both companies are actively working toward expanding the nxSOL ecosystem and driving innovations within Solana's staking landscape.

Revolutionizing Staking While Expanding Liquidity Potential

The launch of nxSOL underscores Nansen’s overarching ambition to simplify and innovate staking across blockchain ecosystems. By setting new standards for liquidity, accessibility, and yield-generation practices, nxSOL is poised to unlock millions of dollars in additional liquidity within Solana’s DeFi environment. With a robust foundation from Sanctum and a vision for continuous growth, Nansen is paving the way for staking to become more integral to the future of decentralized economies.