Underlying Basket

The assets used by the mechanism

Liquid staked SOL tokens (LSTs)

Liquid staked SOL tokens, commonly referred to as LSTs, represent staked SOL positions in a transferable token form.

An LST reflects a claim on staked SOL managed by a staking provider while remaining liquid and usable onchain. This allows staked positions to be transferred, traded, or integrated into automated mechanisms without requiring unstaking.

LSTs are widely used across the Solana ecosystem and are designed to follow predefined staking logic rather than discretionary management.

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Why LSTs are used in SLI

SLI uses liquid staked SOL tokens as the underlying assets for its mechanism due to their:

• native relationship to Solana,

• onchain liquidity,

• standardized token behavior,

• and broad ecosystem adoption.

Because LSTs represent staked positions, they may experience gradual price changes over time that reflect protocol-level mechanics rather than short-term trading activity alone.

These characteristics make LSTs suitable inputs for a rules-based, automated system such as SLI.

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Composition of the basket

The Solana Liquid Index is built around a fixed basket of five liquid staked SOL tokens.

Each asset is assigned an equal weight and plays the same role within the mechanism.

The basket consists of:

• Jupiter Staked SOL

• Phantom Staked SOL

• Jito Staked SOL

• Binance Staked SOL

• Helius Staked SOL

Each token represents 20% of the basket, resulting in a fully balanced and predefined structure.

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Fixed and immutable design

The composition of the underlying basket is defined at deployment.

Once SLI is launched:

• no assets can be added or removed,

• weights cannot be adjusted,

• and the basket remains unchanged for the lifetime of the protocol.

This immutability ensures that all participants interact with the same transparent and predictable structure, without governance actions or discretionary modifications.