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Jupiter Liquidity Provider Token (JLP)
JLP is the liquidity provider token for Jupiter's perpetual futures exchange on Solana. It represents a proportional share of the JLP pool, an index of SOL, ETH, WBTC, USDC, and USDT that acts as the collective counterparty to all leveraged positions opened on Jupiter Perps. 75% of all fees generated from trading activity are continuously reinvested back into the pool, causing the JLP virtual price to appreciate over time.
April 30, 2026
Sanctum-Based LSTs: INF, JUPSOL, dfdvSOL, fwdSOL
INF, JUPSOL, dfdvSOL, and fwdSOL are Solana liquid staking tokens (LSTs) built on Sanctum's staking infrastructure. Each represents a claim on SOL staked to one or more validator sets, accruing yield from network inflation, priority fees, and in some cases MEV tips. All four tokens are reward-bearing: their exchange rate to SOL increases monotonically over time as staking rewards accumulate, they do not rebase.
April 30, 2026
Yield-Bearing Bitcoin: LBTC (Lombard Staked BTC)
LBTC is a liquid staked Bitcoin token issued by Lombard Finance, representing BTC staked through the Babylon Bitcoin Staking Protocol. Launched in August 2024, it became the fastest-growing yield-bearing BTC token in crypto history, reaching over $1.5B in circulation across 12 ecosystems including Ethereum, Base, and Solana.
April 30, 2026
Wrapped Bitcoin: cbBTC, WBTC, xBTC
cbBTC, WBTC, and xBTC are three distinct wrapped representations of Bitcoin deployed on Solana, each backed 1:1 by BTC held in custody and each enabling Bitcoin holders to participate in Solana DeFi without selling their underlying position. The wrapped BTC market across all chains reached an all-time high of approximately $35B in September 2025 before settling to roughly $25B, reflecting the substantial and growing demand for Bitcoin in DeFi.
April 30, 2026
Tokenized Equity: SPYx, QQQx, NVDAx, TSLAx (xStocks)
xStocks are synthetic tokens tracking the price of US equities, issued by Backed Finance via its Jersey SPV, Backed Assets (JE) Limited. This assessment covers four xStock assets: SPYx and QQQx (diversified ETF trackers) and NVDAx and TSLAx (single-name equity trackers). All four are listed as collateral assets in standard markets, with users borrowing stablecoins against their xStock positions.
April 15, 2026
PayFi Strategy Token ($PST)
PayFi Strategy Tokens ($PST/$mPST) represent tokenized exposure to Huma Global Ltd.'s short-duration payment financing operations, delivering real-world yields through revolving credit facilities to regulated payment companies primarily via Arf Financial.
April 3, 2026
Maple Finance syrupUSD
syrupUSD is Maple Finance's liquid yield-bearing dollar, functioning as an ERC-4626 vault token representing USDC deposits earning institutional lending returns. The protocol maintains $2.27B in assets under management on mainnet, with $831M deployed in fixed-rate, overcollateralized loans to institutional borrowers and $1.44B held in available liquidity. Collateralization stands at 173.9%, with loan collateral dominated by BTC, XRP, and stablecoins, all held in segregated custody through Anchorage and BitGo.
February 14, 2026