Pudgy Penguins is looking to expand its presence on Solana beyond the meme space. The platform will issue its own liquid staking token, PenguSOL.
Pudgy Penguins becomes the latest liquid staking project on Solana, transcending its status as a meme project. The platform will start issuing its own liquid staking token, PenguSOL.
Introducing the penguSOL LST with @sanctumso.
With penguSOL you can now bet and earn returns through our Pengu validator and back $PENGU without your $SOL getting stuck.
More information below. pic.twitter.com/B15OcoJ0QD
— Pudgy Penguins (@pudgypenguins) October 9, 2025
Pudgy Penguins will lend its brand to a growing sector on Solana, challenging other previous and larger LST providers. The LST space is gaining speed as it could be one of the ways for government bond companies to park their SOL for passive income. Pudgy Penguins launched its LST through staking-as-a-service provider Sanctum.
Sanctum offers white-label LST services, making it easy for teams to apply their brand. The tokens have full validator logic, redemption rules and DeFi access. So PenguSOL is a fully functional token. Sanctum’s LST services have also been used by Bybit, Jupiter and the Backpack Exchange.
Solana liquid staking already holds over $14 billion in value, while Sanctum validators lock in $2.41 billion. The value of Solana’s LST protocols has doubled since April as the chain’s DeFi sector grew and demand for unlocking liquidity grew.
Pudgy Penguins are spreading their PenguSOL in the Solana ecosystem
Pudgy Penguins offers SOL holders staking income, without the use of liquidity. PenguSOL is immediately compatible with DeFi on Solana and is already listed on Jupiter’s services.
The Pudgy Penguins LST will add to the liquidity of Sanctum, which already has a near-record value locked up for other customers building their own LST brands. | Source: DeFiLlama.
Pudgy Penguins uses the SOL Strategies validator, with an annualized return of 6.2%. PenguSOL can also be redeemed at any time without any freezes or delays. The token can also be accessed via the Sanctum page.
The APY proposed by Pudgy Penguins is moderate, but staking with PenguSOL and Sanctum supports the Pudgy Penguins ecosystem and is seen as attractive to the community. Pudgy Penguins already occupies the meme and NFT space, in addition to its physical brands.
PENGU remains the best Solana meme token
PENGU remains the top Solana meme token, although it is still stuck at a price of $0.03. The Korean won is still important to PENGU and represents more than 15% of the trading volume.
PENGU traded with choppy price movements, abandoning previous rallies. Despite this, the token remains only 25% away from its previous high, with a potential breakout expected as altcoins and tokens are still considered capable of having an even stronger season.
The Solana meme space is more subdued, making this possible PENGU to remain at the helm. For now, most of the tokens, with the exception of USELESS, are in the red, as the market has lost its exuberance for memes.
Pudgy Penguins is still the third most prominent collection on Ethereum based on price floor. The collection fell to a bottom of 9.25 ETH, close to the lower range of the past three months.
