Following the approval of the 1M USDC SOL Purchase we started to purchase SOL on the open market, we are converting 50k USDC per day to Solana and as of today we have already accumulated > 2000 SOL.
Currently you can stake your Solana at any validator and receive circa 7% inflation reward in SOL per year, however while they are staked you can not utilize the same Solana in DeFi.
Liquid staking overcome this problem! You can stake your Solana at certain validators which issue back an IOU that 1) accrues the inflation reward and 2) it can be used in DeFi for extra yields. Two birds with one stone.
As of today there are several Liquid Staking providers: Marinade, MonkeValidator, Socean, Everstake, etc we should allocate to them keeping in mind 1) fees charged and 2) potential rewards from in DeFi (Saber, Sunny, Orca, etc)
In the next weeks we should have around 10k SOL in our Treasury and they could be allocated among different liquid staking providers and then re-invested in LP positions on AMM, I would like to use this thread to discuss the split between the different validators and how to best squeeze more yields from the staked Solana.
There’s a pretty interesting opportunity using mSOL at the moment (Marinade Finance), I would like to stake Solana to get mSOL, provide them as collateral on Hubble Protocol and mint USDH from it using 50% LTV. We can use those USDH in the Stability Fund at > 100% to farm HBB, those HBB can either be sold outright or staked.
You’ve lost me there, how many layers does this proposed transaction have now?
Anyway, expertise is what I’m “paying” you for, so have at it IMO.
Would feel more comfortably if some more people could weigh in. Maybe some of these discussions should be had also on discord? I feel there are a lot of people in that chat that don’t even look at these forums.
We still have circa 5000 SOL not deployed so I think we could do another round of liquid staking strategies
Doing some more diligence, I got more bullish on RIN, I will write a proper breakdown of why in another thread. For that I propose to add to our position on Aldrin stSOL/SOL and deploy another 1000 SOL on the above pair. (RIN + wLDO rewards)
Stake 1000 SOL via Marinade (mSOL) and deployment on Port Finance (MNDE + PORT rewards)
Stake 1000 SOL via Lido (stSOL) and deploy them on Mercurial stSOL/SOL (LDO + MER rewards)
Deploy 500 SOL on Orca scnSOL/SOL, this one has low yield but if Socean issues a token they might add some rewards on Orca as they already did on Solend.
Stake 1000 SOL via Lido (stSOL) and lend on Larix stSOL (LDO + LARIX rewards)
By doing this we are diversified in terms of both platforms and tokens we farm.
Finished the 1M SOL purchase we still have around 5500 SOL available to deploy. I’d say we “tag along” on those protocols where TVL is already high (vetted by other players) and where yield is above average. This means we can top up:
stSOL/SOL on Mercurial and Aldrin (1500+1500)
stSOL on Francium and Apricot (1000+1000)