Saber launches first Lido stSOL stable pool on Solana
Saber has partnered with Lido and Chorus One to create a stSOL/SOL pool, making staking on Solana liquid and accessible to all.
Lido Finance is the biggest decentralized liquid staking protocol, having already accrued $6b in staked assets across Ethereum and Terra. Its expansion to Solana is a momentous occasion. Anyone who stakes their SOL tokens with Lido will be issued an on-chain representation of SOL staking position with Lido validators, called stSOL. This will allow Solana token holders to get liquidity on their staked assets which can then be traded, or further utilized as collateral in DeFi products. Chorus One is the development team that built Lido on Solana, after being awarded a grant by the Lido DAO.
How to earn SBR by providing stSOL/SOL liquidity:
👉🏼 Stake your SOL on Lido Finance to get stSOL, receiving staking rewards;
👉🏼 Provide liquidity for stSOL/SOL on Saber, receiving Liquidity Provider rewards;
👉🏼 Stake your LP tokens on Saber, receiving SBR liquidity mining rewards. We plan to introduce dual yield farming that will allow farmers to also earn LDO liquidity mining rewards.
Staking is vital
Staking is the lifeblood of Proof-of-Stake blockchains like Solana. Democratizing access to staking is vital to ensuring the proper security, consensus, and decentralization of Solana itself.
Saber ensures liquid staking derivatives like stSOL are actually liquid
A liquid market for staking derivatives like stSOL is fundamental to their strength. Without a liquid market, liquid staking derivatives can experience high slippage and even risk de-pegging from the underlying asset. Saber’s stable swap AMM design ensures low slippage, deep liquidity, and a rich trading experience.
About Saber Labs
Saber Labs contributes to Saber, the leading cross-chain stablecoin exchange on Solana. Saber provides the liquidity foundation for stablecoins, which is a type of cryptocurrency whose value is pegged to another asset, like the US dollar or bitcoin. As Solana’s core cross-chain liquidity network, Saber helps facilitate the transfer of assets between Solana and other blockchains. Users deposit crypto into a Saber liquidity pool to earn passive yield from transaction fees, token-based incentives, and eventually automated DeFi strategies.
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About Lido Finance
Lido Finance aims to bring liquidity to staked assets across blockchains including Ethereum, Terra, and now Solana — ensuring that users can stake, trade, or deposit their tokens as collateral in decentralized finance applications.
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About Chorus One
Chorus One is a staking provider with over $3bn assets staked across blockchains such as Solana, Ethereum, Cosmos, and others. The team is also developing blockchain applications related to interoperability and liquid staking. They wrote the first comprehensive report on liquid staking and hosted a working group commissioned by the Interchain Foundation after initially developing a prototype during a Cosmos hackathon and realizing the importance of the topic. Chorus One is a founding member of the Lido DAO and is one of the genesis validators on the Solana Mainnet Beta.
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