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Are liquid staking tokens safe to use in DeFi protocols ?

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by COINS NEWS 36 Views

Hi, I am new to liquid staking and would like to ask if it safe to use liquid staking tokens in DeFi protocols. When I was originally reading about liquid staking I was assuming for some reason that the minted LST token is tracking price of the token that gets locked for staking. Apparently this is not the case - I am just looking at $SOL tocked via Jito Network for $JitoSOL and $JitoSOL has a different price then $SOL. Therefore I am wondering is it actually safe to use the LST tokens in protocols like lending or leverage trading when volatility and behavior of the LST token is kinda unknown compared to original SOL ?

submitted by /u/remek
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