SOL STAKING REPORT March 2025.pdf
Solana Validators Performance
March 2025 Report
Blockdaemon is the #1 staking provider for institutions, offering secure, risk-mitigated rewards across 50+ blockchain networks. We are entrusted with $10B staked assets and deliver 99.9% uptime. This monthly report contains trends about the current Solana ecosystem and metrics on Blockdaemon’s Solana validator performance comparing it to the network averages. This does not include data on white label validators.
Market data provided by:
Blockdaemon APIs and Rated.network
Blockdaemon empowers Fortune 500 enterprises, banks, custodians, and trusts with secure blockchain infrastructure, including nodes, staking, wallet, and DeFi products.
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Market Overview
Blockdaemon’s overall average (Protocol Reward Rate) PRR for March was 8.67%.
Solana (SOL) experienced extreme price volatility in March, surging to a peak of $178.63 early in the month before declining sharply to $124.69. Potential factors included broader market corrections, fading memecoin hype, governance proposal failures, and token unlocks.
Trading volume mirrored this trend, peaking at $11.54 billion before falling significantly by month's end to $3.21 billion.
Solana's DeFi ecosystem showed resilience, with Total Value Locked (TVL) measured in SOL reaching a 22-month high and the network maintaining a robust ~24% share of global DEX volume, indicating sustained core activity.
March Protocol Reward Rate (PRR)
| Source | PRR Average |
|---|---|
| Blockdaemon | 8.67% |
| Network | 8.66% |
PRR (Protocol Reward Rate): An estimate of the protocol reward rate based on past SOL staking data. It does not guarantee future results.
Blockdaemon uses our own Staking Rewards Reporting and rated.network to track the PRR of all SOL validators Blockdaemon currently operates.
Blockdaemon has outperformed the network average for 6 of the last 6 months.
March performance declined in the later half of the month, likely due to reduced trading volume and activity on the network during that period.
Solana Ecosystem Update
The Solana ecosystem is navigating a period of continued technical advancement and market adjustment following Q1 volatility. Key network upgrades are progressing, DeFi shows resilience despite a cooling memecoin trend, and significant community events are planned. However, challenges remain in the NFT sector, and the market faces potential token unlock and liquidation pressures, while optimism grows regarding a potential spot Solana ETF approval later in the year.
Network Upgrades
Ongoing testing for Jump Crypto's Firedancer and Anza's Agave client improvements aim to enhance network stability and efficiency.
DeFi Strength
Despite decreased memecoin activity, Solana's DeFi sector maintains strong Total Value Locked (TVL) in SOL and a significant share of DEX volume.
NFT Market Challenges
The NFT market on Solana continues to struggle, reflecting broader market trends and potentially leading to strategic shifts by marketplaces.
Governance
After the failed SIMD-0228 proposal, discussions may focus on technical improvements and governance processes.
Infrastructure
Projects like Jito Labs remain important, with developments like its upcoming restaking platform launch.
Community Engagement
High engagement continues with events like Solana Breakout and Solana Crossroads.
Tokenomics & Market Pressure
After the failed SIMD-0228 proposal, discussions may focus on technical improvements and governance processes.
Regulatory Outlook
Prospects for a spot Solana ETF have improved significantly due to changes at the SEC, increasing optimism for a 2025 approval.
Staking with Blockdaemon
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Solana Ecosystem Update
Staking with Blockdaemon
Public Rated.network view of Blockdaemon's Validator
| Metric | Value |
|---|---|
| TOTAL AMOUNT STAKED | 1.3M SOL |
| NET PENETRATION | 0.33% |
| DELEGATED APY | 7.52% |
| RAVER | 99.6% |
| EFFECTIVENESS BREAKDOWN | |
| VOTING EFFECTIVENESS | 99.7% |
| PROPOSER EFFECTIVENESS | 99.7% |
| VOTING LATENCY | 1.053 |
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