Pudgy Penguins expands onto DeFi with PenguSOL launch on Solana
The post Pudgy Penguins expands onto DeFi with PenguSOL launch on Solana appeared on BitcoinEthereumNews.com.
Pudgy Penguins aims to boost its presence on Solana beyond the meme space. The platform will issue its own liquid staking token, PenguSOL. Pudgy Penguins will become the latest liquid staking project on Solana, moving beyond its status as a meme project. The platform will start issuing its own liquid staking token, PenguSOL. Introducing the penguSOL LST with @sanctumso. With penguSOL, you can now stake and earn yield through our Pengu validator and support $PENGU without any lockups on your $SOL. More info below. pic.twitter.com/B15OcoJ0QD — Pudgy Penguins (@pudgypenguins) October 9, 2025 Pudgy Penguins will lend its brand to a growing sector on Solana, challenging other earlier and bigger LST providers. The LST space is picking up speed, as it may be one of the avenues for treasury companies to park their SOL for passive income. Pudgy Penguins launched its LST through Sanctum, a provider of staking-as-a-service. Sanctum offers white-label LST services, allowing teams to simply apply their brand. The tokens have full validator logic, redemption rules, and DeFi access. PenguSOL is thus a fully functional token. Sanctum’s LST services have been also used by Bybit, Jupiter, and the Backpack exchange. Solana liquid staking already contains over $14B in value locked, while Sanctum validators lock in $2.41B. Value in Solana’s LST protocols doubled since April, as the chain’s DeFi sector grew and built demand for unlocking liquidity. Pudgy Penguins spread its PenguSOL in the Solana ecosystem Pudgy Penguins provides SOL holders with staking income, without using liquidity. PenguSOL is immediately compatible with DeFi on Solana, and is already listed on Jupiter’s services. The Pudgy Penguins LST will add to the liquidity of Sanctum, which already holds near-record value locked from other clients building their own brands of LST. | Source: DeFiLlama. Pudgy Penguins uses the SOL Strategies validator, with 6.2%…
Filed under: News - @ October 10, 2025 11:21 am