Original｜Odaily

Author｜Wenser

April 3, DL NewsreportIt is said that Lido’s SOL pledge agreement code has a code bug that prevents the pledged SOL (stSOL) from being submitted, which has attracted market attention. Currently, the number of wallets holding stSOL pledged assets is as high as more than 31,000, totaling 112,000 stSOL (approximately 24 million U.S. dollars), but Lido officials have yet to give a clear response.

Last October, Lido officiallyAnnounce, SOL staking will no longer be supported in the future, and new SOL staking will no longer be supported on October 16, and node operators will exit starting on November 17. Lido January 17, 2024Official reminder again, Lidos Solana front-end support page will be offline on February 4; after that, unstaking will only be done through the command line interface (CLI) - requiring professionals to call out the code for interactive operations. But now, a bug in the smart contract prevents everyone from making withdrawals.

This stSOL withdrawal failure also made the market pay attention to the SOL pledge market again.Data shows that more than 65% of SOL tokens are pledged on the network, but only about 3.5% of SOL is pledged through the liquid staking protocol. There is a huge opportunity in the liquid staking market on Solana.. Taking this opportunity, Odaily summarizes the current mainstream staking agreement platforms in the Solana ecosystem for your reference and communication.

Jito

https://www.jito.network/staking/

As the current No. 1 liquidity staking platform in Solana ecosystem, Jito’s current TVL is as high as$1.795 billion。

Previously, Jito used 100 million JTO (accounting for 10% of the total token supply) to conduct retroactive airdrops to the community, 80% of which were allocated to JitoSOL users, which attracted many peoples praise. The current pledged APY of JitoSOL is approximately 8.14%.

As of writing, JTOToken priceIts about $4.1.

Marinade

https://marinade.finance/app/

Marinade is the first liquidity mining protocol on Solana, with a current TVL of$1.243 billion, ranking second on the Solana ecological staking track.

What is different from other platforms is that Marinade reduces staking risks by allocating multiple validators to users. In addition, the functions of insurance funds and directional equity also provide certain guarantees and flexibility for reducing staking risks and obtaining additional rewards. The current staking APY of mSOL is approximately 7.94%, and the staking APY of Native SOL is approximately 8.45%.

As of writing, MNDEToken priceIts about $0.3.

SolBlaze

https://stake.solblaze.org/app/

SolBlaze will be launched in 2023 and the current TVL is$528 million, ranking third on the Solana ecological staking track. Previously, Machi Huang Licheng pledged a huge amount of 156,000 SOL raised from the pre-sale of his Memecoin project into SolBlaze to earn income. The current staking APY of bSOL is approximately 7.89%.

As of writing, BLZEToken priceis around $0.0024.

Kamino

Kamino is a lending protocol on the Solana chain and integrates functions such as lending, automated income strategies, and leverage trading. The current TVL is$1.32 billion。

It is worth mentioning that,As a platform protocol that has not issued tokens yet,Kamino previously launched a points incentive program. The first quarter officially ended on March 31, and the second quarter has now started. Users can receive point rewards by using the existing functions of the product, such as depositing, borrowing, providing liquidity, etc., and Future token airdrop distribution pegged.

According to official news, Kamino will launch an airdrop of the platform token KMNO Genesis at the beginning of the second quarter, of which 7% of the total supply will be used for airdrops. At present, the APY of USDC deposited in the main market of Kamino platform is as high as 16.83%.(During dynamic fluctuations, screenshot data is used as an example), coupled with platform point rewards, it can be called one fish to eat more.

TGE (Token Release Event): To be determined.

Marginfi

https://app.marginfi.com/

Marginfi is a decentralized lending protocol on the Solana ecosystem. The current TVL is$138 million, ranking fourth on the Solana ecological staking track.

Earlier in February, MarginfiAnnounceYBX, an interest-bearing stablecoin based on LST assets, is about to be launched. It was originally expected to be launched in mid-to-late March. It has not been officially released yet and should still be reviewed and stress tested.

besides,Marginfi is also among the protocols that have yet to issue platform tokens, and its risk management mechanism is more transparent, so risk management and control is more secure. It is also currently in progress.Points bonus activities, users can earn points by pledging deposits and loans, and can get referral links to invite others to join and get their points rewards.(For specific rules, see:Introducing mrgn points）. Not only that, Marginfi officials had previouslyAnnounce, users who use Marginfi through the Backpack wallet can receive a 1.05 times points bonus (and if they continue to be used after importing into the wallet, the previously accumulated points will also enjoy this bonus), which is also a way to increase future token airdrop rewards. Currently, the APY of asset deposits and loans on the Marginfi platform fluctuates greatly.You can log in to the platform to view it yourself. The picture above is only an example.

TGE (Token Release Event): To be determined.

summary

At present, there is still some room for growth in the liquidity pledge or lending agreement of the Solana ecosystem, and with approximately $24 million of stSOL pledged assets on Lido unrecoverable, perhaps more SOL assets need to find new ones. exit. Above 5 platforms(Especially Kamino and Marginfi, which have not issued tokens)It may become a new goal to absorb more liquidity to support the subsequent operation of the Solana ecosystem. Users can choose to use it according to their own circumstances.

Odaily reminds you to pay attention to asset security and choose investment targets carefully.

For some platform operation steps, please refer to the following:

Interactive Guide: Inventory of Potential Solana Ecosystem Airdrop Projects in 2024

Reference article:

https://www.odaily.news/post/5194133