SolanaSail Cruises with PenguinFinance to Collect the Protocol Owned Liquidity Treasure
SolanaSail has joined the Penguin Bond Family, and they will be going on a new adventure with SolanaSail to collect Protocol Owned Liquidity via bonding/staking!
Penguin will work with SolanaSail on a treasury asset management solution that is better suited to DAO as a result of their collaboration. They intend to offer bonding/staking to more DAOs in the future since it is an excellent token emission mechanism for maintaining long-term consistent liquidity and a healthy token price.
What is SolanaSail?
SolanaSail’s SAIL token is the first community SPL token built on Solana that has been entirely distributed at random. Instead of doing an airdrop by releasing a portion of the supply and keeping the remainder for various purposes, the whole supply of SAIL tokens has been released to the community for free.
The SolanaSail ecosystem token is gSAIL, which will be available on the four platforms Governance, Vaults, DeFi, and NFTs Marketplace. Along with bonding, the gSAIL staking feature will be accessible on Penguin. The community will be able to stake gSAIL and get gSAIL rewards.
SolanaSail DAO has been working effectively, with sailors discussing the project’s future and governing collectively via voting. Passionate sailors may be seen posting outstanding proposals in the DAO to help improve agreements and communities, as well as to develop healthy and long-term asset management solutions for the treasury.
How they will introduced bonding/staking services to DAO
Penguin initially put out their proposal to the SolanaSail DAO community, where they outlined their service mechanism in detail and addressed specific queries regarding it. The community members voted to approve their proposal on this, and they also generously determined that its NFT holders will get airdrops when bonding/staking goes live.
DAO then published a proposal on the pools’ initialization on pngfi, which has already received the necessary amount of votes to pass. Many thanks to the sailors for their enthusiasm!
The SAIL/PAI pool and gSAIL/PAI pool are available on pngfi now!
What’s next?
The next step will be to further discuss with DAO members the parameter settings for bonding/staking and, once determined, to initiate a proposal. Bonding/Staking will be formally started on https://app.png.fi/bond as soon as the proposal is accepted!
Afterward bonders may purchase gSAIL at a discount by paying gSAIL/PAI LP token, and the gSAIL will automatically be staked to enjoy juice APY.
About SolanaSail
Solana Sail is the fastest and most scalable digital asset, enabling real-time global payments, Decentralized Finance, Governance, Vaults and NFT marketplace anywhere in the world.
About PenguinFinance
Penguin is a Liquidity-as-a-Service Platform that offers a one-stop solution for treasury management such as swap, bonding, and staking. A protocol can utilize the bonding service to acquire liquidity instead of renting it. Protocol-owned liquidity can help a protocol survive in the long run by staying with it during a downturn. Instead of fostering short-term involvement, token vesting will allow protocols to match their incentives and communities with their long-term goals.
⏩ SOURCE
