$SOL **$SOL** refers to **Solana’s native cryptocurrency**, used to pay for transactions and smart contract execution on the **Solana blockchain**.
Here’s a quick overview:
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### **Solana ($SOL) Basics**
- **Ticker:** SOL
- **Blockchain:** Solana
- **Use Cases:**
- Transaction fees
- Staking (earn rewards)
- Governance (future potential)
- Payments within Solana-based apps and NFTs
### **Why Solana?**
- **Ultra-fast:** Handles up to 65,000 TPS (transactions per second)
- **Low fees:** Often just a fraction of a cent
- **Ecosystem:** Hosts NFTs (like Mad Lads), DeFi apps (like Jupiter), and games
### **Risks to Watch:**
- **Outages:** Historically faced downtime
- **Centralization concerns:** Due to validator and hardware requirements
- **Smart contract risk:** Like any blockchain, bugs or exploits can occur
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Do you want info on how to buy, stake, or use $SOL in DeFi or NFTs?
