As Solana’s DeFi space expands, liquid-staking tokens like JitoSOL and mSOL have become powerful building blocks. These LSTs let you stake SOL (earning staking yields or MEV-boosted rewards), and still use the resulting tokens in lending, borrowing, or liquidity strategies — unlocking capital efficiency.
If you hold JitoSOL or mSOL (or plan to), it’s worth knowing which lending platforms support them reliably. Below you’ll find the top platforms, plus how to use them and what risks to watch out for.
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🔎 Why LST-Supporting Lending Platforms Matter
Liquid-staked SOL derivatives (JitoSOL, mSOL, etc.) combine staking yield + liquidity + DeFi utility. Instead of locking SOL and losing flexibility, you receive a tradable token — that token can act as collateral, supply asset, or be lent out — while you still earn staking/validator rewards. (GetBlock.io)
Good LST-supporting lending platforms let you:
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Earn lending/supply interest on top of staking yield
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Borrow stablecoins or other assets while your stake remains active
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Participate in yield layering or leverage strategies (with caution)
✅ Top Lending / Money-Market Platforms on Solana for JitoSOL & mSOL
Kamino Finance — Flexible Lending & Vaults with LST Support
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Kamino supports JitoSOL (and often other LSTs) in its “K-Lend” markets. (jito.network)
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Deposit JitoSOL (or staked-SOL derivatives) as collateral or supply — earn yield, and optionally borrow against it (with LTV limitations). (phantom.com)
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Kamino also offers vaults and auto-compounding liquidity strategies — useful if you want passive yield layering with LST collateral. (solanatips.net)
Best for: Users who want flexible lending/borrowing using LSTs; those aiming to layer yield or leverage staking + borrow/supply yield.
MarginFi — Conservative Lending Market with LST Support
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MarginFi supports lending and borrowing for JitoSOL and mSOL among other assets. (jito.network)
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Recognized for transparent risk parameters, good documentation and relatively conservative money-market mechanics. (solanatips.net)
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It can serve as a more “risk-aware” option compared to vault-heavy protocols for users who want stable interest or borrowing without aggressive leverage.
Best for: LST holders seeking a straightforward and relatively stable lending environment without complex vaults or leverage.
Solend (and variants) — Classic Money Market, increasingly LST-friendly
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Solend has long been a top Solana money-market. While its asset support has been evolving, many reports and ecosystem sources mention LST-friendly pools including staked SOL derivatives or LST-collateralized borrowing/lending. (OKX)
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For users who prefer the “stable,” well-known lending-protocol experience (similar to Aave on Ethereum), Solend offers a familiar interface, risk model, and broad user base. (Markaicode)
Best for: Users who want a “trusted, older” money market, or those who already use Solend and want to experiment with LSTs.
🔎 Liquid-Staking Providers That Feed Into Lending & DeFi: Jito & Marinade
Before you can lend or borrow using staked SOL derivatives, you need to obtain them. Two of the leading liquid-staking providers on Solana are:
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Jito — staking SOL in Jito issues JitoSOL, which accrues staking + MEV-boosted rewards. JitoSOL is widely accepted across lending markets (Kamino, MarginFi, etc.). (PANews)
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Marinade Finance — staking SOL here gives mSOL, another widely recognized LST that works across wallets, DEXs, lending protocols, and more. (CoinGape)
By staking via Jito or Marinade, then depositing JitoSOL or mSOL into a lending protocol, you layer staking yield + lending yield — maximizing capital efficiency while maintaining liquidity.
🧩 Example Strategies with LST Lending on Solana
Here are a few popular strategy templates using LST + DeFi lending:
| Strategy | Example Flow | Purpose / Benefit |
|---|---|---|
| Supply & Earn | Stake SOL → get JitoSOL / mSOL → deposit into Kamino or MarginFi → earn supply interest + staking yield | Passive yield + liquidity |
| Borrow + Reinvest | Stake SOL → get LST → deposit as collateral → borrow stablecoin/USDC → reinvest or farm/stake elsewhere | Leverage yield exposure; capital efficient |
| Yield Layering | Stake → LST → deposit → earn interest + staking rewards + any protocol incentives (KMNO, liquidity mining) | Maximize APY through layering |
| Flexible Liquidity | Keep LST tokens instead of locked SOL — allows easy exit or reallocation without unbonding wait periods | Maintain optionality/liquidity while staking |
⚠️ Risks & Things to Watch Out For (Especially with LSTs + Lending)
Using liquid-staked tokens in DeFi adds complexity — and risk. Key risks you must weigh:
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Derivative & peg risk: LSTs (JitoSOL, mSOL) must retain value relative to SOL. Under stress (validator slashing, protocol bug, high depeg), LST may diverge or devalue — impacting collateral value.
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Smart-contract risk: Every extra protocol — staking contract, lending market, vault — increases the attack surface. Bugs or exploits remain possible.
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Liquidation risk (if borrowing): Borrowing against LST collateral carries risk if SOL price drops or LST depegs.
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Liquidity & concentration risk: Some pools or markets may have caps or low liquidity (e.g. supply/borrow caps on JitoSOL in Kamino) (jito.network)
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Protocol-specific risk: Newer protocols or recently added markets may be less battle-tested.
Because of these, many users choose to treat their positions conservatively: modest loan-to-value, diversified across protocols, and ready to exit.
🎯 Which Platform for Which Type of User
| Depending On … | Use … | Because … |
|---|---|---|
| You want flexible, feature-rich lending with LST support | Kamino | Supports JitoSOL/mSOL, vaults, supply/borrow, yield layering |
| You want a stable, transparent money-market | MarginFi | Conservative design, well-documented risk parameters |
| You prefer a mature, widely used protocol with broad asset support | Solend | Long track record, broad ecosystem integration |
| You just staked SOL and want to deploy your stake into DeFi | Jito / Marinade + One of Above Lending Platforms | Enables staking + liquidity + yield layering |
| You want maximum yield (with higher risk) | Kamino or layered strategies | Ability to leverage LST and yield stacking |
✅ Final Thoughts: LST + Lending Is One of Solana’s Best Yield Themes
Using liquid-staked SOL derivatives (JitoSOL, mSOL) and combining them with lending/borrowing or vault strategies remains one of Solana’s most powerful yield paths.
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It unlocks strong capital efficiency — staking + liquidity + lending yield.
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Many of the best Solana money markets already support LSTs.
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With conservative risk practices, it’s suitable even for intermediate DeFi users.
If I were building a portfolio now and held SOL or staked-SOL, I’d likely go for a hybrid approach:
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Stake via Jito or Marinade → get LST
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Deposit some LST into a lending platform (e.g. Kamino or MarginFi) for yield or optional borrowing
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Keep remaining LST as “liquid stake buffer” — easy to exit or shift strategies
That setup offers yield, liquidity, optionality and flexibility — a strong balance for today’s DeFi environment.
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Disclaimer: The above content is for informational and educational purposes only and does not constitute financial or investment advice. Always do your own research and consider consulting with a licensed financial advisor or accountant before making any financial decisions. Panaprium does not guarantee, vouch for or necessarily endorse any of the above content, nor is responsible for it in any manner whatsoever. Any opinions expressed here are based on personal experiences and should not be viewed as an endorsement or guarantee of specific outcomes. Investing and financial decisions carry risks, and you should be aware of these before proceeding.
About the Author: Alex Assoune
Alex Assoune (MS) is a global health and environmental advocate. He founded Panaprium to inspire others with conscious living, ethical, and sustainable fashion. Alex has worked in many countries to address social and environmental issues. He speaks three languages and holds two Master of Science degrees in Engineering from SIGMA and IFPEN schools.
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