This is the second part of this article. Here is the first part.
Let’s discover more protocols about Solana liquid staking.
1) Marginfi
Marginfi is a multi-purpose decentralized finance platform on Solana. It offers liquid staking services, lending, and a stablecoin (YBX). SOL holders can mint the platform’s liquid staking derivative (LST) for improved rewards.
Marginfi generates yield by staking to validators that receive MEV rewards like Jito and by staking to validators that charge 0% commission.
- Benefits: LST tokens play a crucial role in DeFi activities like borrowing and lending. Staking on Marginfi comes with no extra fees. It also provides an APR of over 8.5%, impacting the minting of about $100 million in LST tokens.
- How to Stake on Marginfi:
- Head to Marginfi’s LST minting portal.
- Hit “Mint LST” and link your wallet.
- Pick the token and type in the amount of SOL you want to stake.
- Give the green light to the transaction to get LST.
Source: X
2) Blaze
Blaze provides tools for the Solana ecosystem, like a token minter, a SOL faucet, and a liquid staking pool. It teams up with over 300 Solana validators for its staking program. When you stake SOL, you get bSOL (BlazeStake Staked SOL). You can put bSOL to use in DeFi protocols like Solend, Orca, and Raydium.
- Benefits: Blaze allows users to choose specific validators to stake SOL and provides extra perks. The Blaze Rewards program will enable users to gain extra BLZE tokens based on how much they contribute to the SolBlaze ecosystem.
- Fees:
- Staking on Blaze offers an APY of over 7.9%.
- Blaze takes a commission on staking rewards.
- How to Stake on Blaze:
- Visit the Blaze liquid staking app.
- Hit “Connect Wallet” and choose your provider.
- Type in the amount of SOL you want to stake.
- Give the go-ahead to the transaction to get bSOL.
Source: X
3) Sanctum
Sanctum offers a way to get liquidity for liquid stacked tokens (LSTs) through its infinity pool. You can swap LSTs without slippage and stake SOL to get INF tokens. Sanctum has developed an automated pricing system for every LST. It considers the actual amount of SOL staking in the liquid staking pool of the individual LSTs.
An oracle feeds the protocol with the floor price of every LST in the Infinity Pool, ensuring fair pricing and easy cross-swapping. There are over 2.3 million staked SOLs in Sanctum.
- Benefits:
- INF tokens represent staked SOL and are helpful in DeFi.
- APY for INF is over 11%, generated from staking APR and Infinity Pool fees.
- How to Stake on Sanctum:
- Visit the Sanctum liquid staking platform.
- Hit the “Connect Wallet” button and pick your provider.
- Type in how much SOL you want to stake.
- Approve the transaction to get INF.
Source: X
Conclusion
Liquid staking helps keep the network safe and allows you to earn more and move your assets around more. Like any investment, ensure you know the platform’s rules and costs before staking.
Ensure you’re comfortable with the time you have to stake, the cost, and the yearly returns they promise.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
