6 Best Liquid Staking Protocols in 2026
The best liquid staking protocols in 2026 compared on chain, liquid token, rate shown and fees. See Lido, ether.fi, Marinade, Sanctum, Swell and Liquid Collective.
By Jonathan West · Updated July 2026
Liquid staking protocols let depositors stake base-layer digital assets while holding a transferable receipt token that earns network staking rewards. At PipeFlare, we compare the best liquid staking protocols by evaluating their underlying blockchain networks, receipt token designs, published rate estimates, and fees as of October 2026. This review ranks six liquid staking protocols, examining whether tokens rebase daily or accumulate value inside a non-rebasing wrapper. Staking rewards remain variable across all networks and are not guaranteed over time. Liquid staking tokens also carry smart-contract, depeg, slashing, and market risk.
Read how Ethereum staking works before you pick a protocol
Lido
Best for: Best known for stETH on Ethereum
Lido is a liquid staking protocol where users deposit ETH to receive stETH, described as Ethereum's leading liquid staking token. Deposits on Ethereum mainnet generate rewards, and the service is also accessible through the Lido UI on Arbitrum, Base, OP Mainnet, and Linea. The protocol supports wstETH as a non-rebasing wrapper. Withdrawals pass through a first-in, first-out queue that mints an unstETH NFT for each request. The protocol homepage cites over $4M invested in security, including audits from Certora, Mixbytes, Statemind, Ackee, and OpenZeppelin along with active bug bounties.
Strengths
Published 2.2% APR on Ethereum deposits with 9,661,907 ETH in TVL
Accessible across Arbitrum, Base, OP Mainnet, and Linea via Lido UI
Over $4M invested in security including bug bounties and named audits
Limitations
Protocol fee percentage is decided by DAO vote and not published on the page
Discounted withdrawal amount is possible after significant protocol losses
Pricing: Percentage of rewards, set by DAO vote; percent not published
ether.fi
Best for: Best for an eETH and weETH pair
ether.fi is an Ethereum liquid staking protocol that issues eETH as a rebasing receipt token alongside weETH as a non-rebasing wrapper. The platform states that eETH and weETH are not restaked through EigenLayer. Integrations of eETH and weETH in DeFi introduce smart-contract, market, oracle, liquidity, and liquidation risks for token holders. Redemption timing depends on protocol liquidity, validator withdrawals, and network conditions without a fixed timeline.
Strengths
Issues both rebasing eETH and non-rebasing weETH wrappers
Accrues consensus-layer and execution-layer rewards directly to token holders
Specifies that assets are not restaked through EigenLayer
Limitations
Rate and protocol fee percentages are not published on the page
Redemption requests have no fixed timeline and depend on network conditions
Pricing: Not published; rewards variable, not guaranteed
Marinade
Best for: Best for Solana staking with mSOL
Marinade is a Solana liquid staking protocol that provides mSOL receipt tokens in exchange for deposited SOL. The liquid mSOL token can be deployed into decentralized finance protocols, including Kamino and Orca. Marinade advertises 'Earn up to 8% APY', though the live APY figure did not load. The protocol lists 0% fee validators on Solana. Depositors can use the Instant Unstake feature to withdraw SOL immediately for a small fee.
Strengths
Advertises an earning potential of up to 8% APY on SOL
Liquid mSOL token is usable in DeFi protocols like Kamino and Orca
Offers Instant Unstake to retrieve SOL immediately for a fee
Limitations
Exact Instant Unstake fee schedule is not published on the page
Protocol fee percentage is not stated on the page
Pricing: 0% fee validators; Instant Unstake charges a small fee
Sanctum
Best for: Best for Solana liquid staking infrastructure
Sanctum is a Solana staking infrastructure provider that supports custom liquid staking tokens and white-label validator operations. Its homepage displays a 5.49% APY for Solana liquid staking deposits as of October 2026. The platform offers custom liquid staking tokens and white-label validators for institutional partners. Sanctum names Solana as its focus. Token names and fees are not stated on the page.
Strengths
Displays a 5.49% APY for liquid staking on Solana
Supports custom liquid staking tokens for institutional partners
Provides white-label validator architecture on Solana
Limitations
Liquid staking token names are not stated on the page
Protocol fee percentages are not published on the website
Pricing: Not published
Swell
Best for: Best for swETH and rswETH
Swell is a liquid staking and restaking protocol on Ethereum that issues swETH to stake ETH for yield and rswETH for restaking on EigenLayer. The platform displays a 3.00% APR on swETH deposits alongside total value locked of $200,000,000. Deposits into rswETH display a 2.63% APR. Swell's website states that the platform is evolving into Faro. Depositors must withdraw their capital from Swellchain before June 15, 2026.
Strengths
Offers both liquid staking via swETH and restaking via rswETH
Displays APRs of 3.00% on swETH and 2.63% on rswETH
Reports $200,000,000 in total value locked for swETH
Limitations
Protocol fees are not mentioned on the page
Users must withdraw funds from Swellchain before June 15, 2026
Pricing: Not published
Liquid Collective
Best for: Best for institutional stakers
Liquid Collective is an enterprise-focused liquid staking protocol designed for businesses and platforms offering staking services to their underlying customers. It issues LsETH for Ethereum deposits and lists an LsSOL token version for Solana staking. The protocol mandates identity verification, enforcing KYC and AML screening for validator node operators and for mint and burn actions. LsETH can be held on institutional custody platforms, including Coinbase Prime, Kraken, Fireblocks, and BitGo. The protocol does not publish APR or fee figures on its page.
Strengths
Built specifically for businesses and institutional stakers
Mandatory KYC/AML compliance for mint and burn transactions
Supported across custody providers like Coinbase Prime, Kraken, Fireblocks, and BitGo
Limitations
Staking reward rates and protocol fee structures are not published on the page
Mandatory KYC/AML is required for operators and mint/burn actions
Pricing: Not published; KYC/AML required for mint and burn
Summary comparison
| Option | Chain | Liquid token | Rate shown (as of Oct 2026) | Fees |
|---|---|---|---|---|
| FeaturedYour company here, pinned above every listing Get featured → | ||||
| Lido | Ethereum; also Arbitrum, Base, OP Mainnet, Linea via Lido UI | stETH (rebasing); wstETH wrapper | 2.2% APR shown | Percentage of rewards, set by DAO vote; percent Not published |
| ether.fi | Ethereum | eETH (rebasing); weETH wrapper | Not published; rewards variable, not guaranteed | Not published |
| Marinade | Solana | mSOL | Up to 8% APY advertised | 0% fee validators; Instant Unstake charges a small fee |
| Sanctum | Solana | Not named on page | 5.49% APY shown | Not published |
| Swell | Ethereum | swETH; rswETH for restaking | 3.00% APR for swETH; 2.63% for rswETH | Not published |
| Liquid Collective | Ethereum; Solana version also listed | LsETH; LsSOL | Not published | Not published; KYC/AML required for mint and burn |
| StakeWise | Ethereum | osETH | Up to 0.10% APY shown; separate Boost claim of up to 7% APY | Not published |
| Stader | Ethereum and Hedera listed as active | Not published | Not published; page says rewards vary | Not published; no minimum staking amount |
| Frax Ether | Ethereum | frxETH and sfrxETH | Not published | 10% of staking income retained: 8% protocol fee, 2% insurance fund |
| Rocket Pool | Ethereum | Not published | Not published | Not published |
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Liquid Staking Protocol Choice by Chain and Token
The protocols below differ by chain, token model and operating rules. There is no single best protocol across the industry. The best liquid staking protocols vary based on whether you deposit capital on Ethereum or Solana, whether you prefer rebasing tokens or non-rebasing wrapper tokens, and the smart-contract risks involved. On Ethereum, Lido provides stETH alongside its wstETH wrapper, showing a 2.2% APR and total value locked of 9,661,907 ETH as of October 2026. For an alternative token pair on Ethereum, ether.fi issues eETH and weETH, distributing consensus-layer and execution-layer rewards without restaking through EigenLayer. Swell separates liquid staking from restaking by issuing swETH at a 3.00% APR and rswETH at a 2.63% APR through EigenLayer. Liquid Collective provides LsETH on Ethereum and LsSOL on Solana, requiring KYC and AML compliance before allowing any mint or burn actions. On the Solana network, Marinade offers mSOL for liquid staking alongside a staking option that imposes no lockups. Marinade advertises an earning potential of up to 8% APY while listing 0% fee validators, and mSOL can be used in decentralized finance protocols like Kamino and Orca. Sanctum focuses on Solana infrastructure, showing a 5.49% APY for liquid staking while supporting custom liquid staking tokens and white-label validators for institutional partners.
How Liquid Staking Tokens Work
Liquid staking tokens track deposited assets and their accumulated staking rewards through either rebasing smart contracts or value-accruing wrappers. On Ethereum, Lido mints stETH at a 1:1 ratio upon an initial deposit of ETH. Because stETH is a rebasable ERC-20 token, user balances adjust daily as oracle reports arrive. Lido also provides wstETH as a non-rebasing wrapper token. The wstETH token balance remains fixed over time while its redemption value increases relative to stETH. In a similar manner, ether.fi provides eETH as a rebasing token whose balance rises as staking rewards accrue, alongside weETH as its non-rebasing wrapper token. Unstaking liquid tokens involves distinct protocol queues and redemption constraints. Lido routes user withdrawal requests through a first-in, first-out queue where each submission mints an unstETH NFT representing the claim. Individual withdrawal requests on Lido must range between 100 wei and 1,000 stETH, and requests cannot be canceled once initiated. The final claimable ETH amount is locked at finalization, which normally equals the ETH matching the stETH at request time, though a discounted amount is possible after significant protocol losses. On ether.fi, redemption timing depends on overall protocol liquidity, validator withdrawals, and network conditions without a fixed timeline.
Rates and Fees Compared
As of October 2026, Lido displays a 2.2% APR on its homepage alongside a total value locked of 9,661,907 ETH. Lido takes a protocol fee structured as a percentage of staking rewards set by DAO vote, but the exact fee percentage is not published on the reviewed pages. Meanwhile, ether.fi notes that rewards from consensus and execution layers are variable and not guaranteed, and its page does not publish a live rate or fee percentage. On Solana, Marinade advertises that stakers can earn up to 8% APY while highlighting 0% fee validators. Marinade does not publish a protocol fee percentage on its website, though its Instant Unstake feature charges a small fee whose exact amount is not stated. Sanctum displays a 5.49% APY on its homepage for Solana liquid staking, leaving its fee schedule unpublished. Swell publishes a 3.00% APR on swETH deposits alongside $200,000,000 in total value locked, while its rswETH restaking token shows a 2.63% APR. Liquid Collective does not publish APR estimates or fee percentages on its public pages. All staking rates are variable and subject to change.
Availability and Access
Access rules and multichain availability vary by platform. Lido operates primarily on Ethereum mainnet, but users can also interact with the protocol on Arbitrum, Base, OP Mainnet, and Linea using the official Lido UI. Liquid Collective mandates KYC and AML verification for both validator node operators and depositors executing mint or burn transactions. Supported institutional custody integrations for LsETH include Coinbase Prime, Kraken, Fireblocks, and BitGo. On Swell, operational migrations are underway: the protocol is evolving into Faro, and users must withdraw funds from Swellchain before June 15, 2026. For ether.fi depositors, the protocol notes that deploying eETH and weETH into DeFi introduces smart-contract, market, oracle, liquidity, and liquidation risks.
The verdict
The best liquid staking protocols depend on your target blockchain, receipt token preference, and compliance requirements. For Ethereum staking, Lido provides stETH and wstETH with published audits and layer-2 access, while ether.fi offers an alternative eETH and weETH pair that avoids EigenLayer restaking. Swell supports both liquid staking via swETH and restaking via rswETH, though users must note the required withdrawal from Swellchain before June 15, 2026. On Solana, Marinade supports mSOL with instant unstaking, while Sanctum offers infrastructure for custom tokens and white-label validators. Liquid Collective lists mandatory KYC/AML and targets institutional stakers.
Frequently asked questions
What is the best liquid staking protocol?
There is no single best liquid staking protocol because the right choice depends on your target blockchain, token design, and operational requirements. Lido and ether.fi operate on Ethereum with liquid tokens and wrappers, while Marinade and Sanctum serve the Solana ecosystem. Liquid Collective lists mandatory KYC and AML for operators and for mint and burn actions.
What is a liquid staking token?
A liquid staking token is a digital asset issued by a staking protocol that represents deposited cryptocurrency along with accrued network staking rewards. These tokens can exist as rebasing tokens like stETH and eETH that change balance daily, or as non-rebasing wrappers like wstETH and weETH whose underlying redemption value increases over time. They allow holders to retain transferability while earning rewards.
Do liquid staking protocols charge a fee?
Lido charges a protocol fee set by DAO vote as a percentage of rewards, while Marinade offers 0% fee validators and assesses an unpublished fee for its Instant Unstake feature.
Which protocols stake Solana?
Marinade issues mSOL and supports instant redemptions for a fee, while Sanctum displays a 5.49% APY and builds custom liquid staking tokens and white-label validator infrastructure. Liquid Collective also lists an institutional LsSOL token version for Solana.
Are liquid staking rates guaranteed?
No, liquid staking reward rates are variable and never guaranteed. Staking rates are variable, quoted as vendor pages show them as of October 2026, and are not guaranteed. Depositors also face smart-contract, market depeg, and slashing risks.
Sources
- Lido official site
- ether.fi official site
- Marinade official site
- Sanctum official site
- Swell official site
- Liquid Collective official site
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