$SOL

The Solana currency (token SOL) is needed for the following purposes:

Payment of transaction fees and processing of smart contracts.

Participation in staking. Users provide their existing SOL tokens to support the network. In return for providing their tokens, the investor receives a reward — on average 8% per annum.

Usage in DeFi applications. For example, the DeFi platform Raydium and the trading platform Serum operate on the Solana blockchain, providing decentralized trading and lending services.