someOtherName

As you all know, have been very vocal about my support for @sanctumso and how it solved the biggest problem around LST's - Liquidity. A short recap on the problems they are trying to solve... Since the latest SWQOS network upgrade, validators are now required to have at least 1/25000 of total sol staked with them to be considered a fully operational validator. This amount currently amounts to about 15k sol. With that in mind, smaller validators are now forced to think about how they will incentivize stake into their validator to meet that threshold. A few ways that they do so are: 1) Distribute priority fees and MEV fees to stakers. (cant be done with native staking) 2) Launch their own LST that would enable them to distribute those fees and allow their users to use those tokens in defi. This is where @sanctumso comes in. When validators launch their own LST, not only do they have to focus on running their validator, they now have to think about how to incentivize liquidity for their LST, which is counter intuitive for them since the SOL used to pair with their LST in the LP could be is SOL that could be staked with their validator. But now... They can just reach out to @sanctumso for a fully fledged solution from the start. Not only does @sanctumso assist validators regardless of size to set up their LST's and distribute fees, they are also letting the validator operators focus on operating their validator and handling the liquidity issue for them. How does @sanctumso help with that? They have a reserve pool with 210k native SOL that accepts LST's for SOL in return. Any LST's that are partnered with them are able to utilize that same pool, which also means that liquidty is no longer fragmented amongst all the diff LST's. Users no longer need to wait for an epoch to unstake their LST as they can just do so through @JupiterExchange which natively integrates @sanctumso in their routing to give you pretty much the same amount of SOL as unstaking manually without waiting for the epoch to end. (INF is not integrated into the routing yet, so best do deposit manually on the official site for best rates). What happens after a user has swapped LST for SOL from the reserve pool? The LSTs are held in the reserve pool till the end of the epoch and unstaked back to SOL to replenish the pool. This essentially means that users are able to pay a very small fee in exchange for their time. Now that we've covered the problems that @sanctumso solves, heres a simple guide on how to contribute to the protocol, and at the same time, playing your part in securing the network: 1) Head to app.sanctum.so/. If you've like what you have learnt from this thread so far, would appreciate any support by using the code: MILO. 2) Navigate to the Infinity tab on the left and deposit your SOL for any of the partnered LST's integrated. (a minimum of .1xSol is required to get a pet for Wonderland. 3) Head over to the Wonderland tab to view all the individual pets that represent each partnered LST. For all of them, holding the partnered LST will enable you to start earning 10 XP per minute. 4) Pay close attention to the Community Quests section of the site as they include momentary xp boosts for for partnered LST's for completing certain campaigns. There is an INF campaign going on today that rewards INF holders with 2x XP for the next 24 hours. Would strongly recommend smaller players to actively participate in these campaigns to minmax points. Rather than sybilling on multiple wallets as team has made it very clear that they are leaning towards a linear distribution but also rewarding active participants. Personally, as mentioned in the tween below, have just decided on converting all my SOL into INF as its the only LST integrated atm that can be used in defi as collateral on @solendprotocol. By depositing INF into solend, you can also earn 10XP per min per SOL. What this also allows you to do is take a loan on your INF to be deployed elsewhere for capital effeciency. teapawt.net/0xIcedMilo/statu… Disclaimer: holding INF over the other LST's integrated does come with more risks as its using a custom contract instead of the normal stakepool contract that is used by every other LST and has been battletested. However, holding INF also enables you to earn a portion of the trading fees within the reserve pool whilst holding a basket of partnered LST's. Hopefully this thread has given you a better understanding on why Milo has been so vocal about @sanctumso over the past few months. And once again, CODE: MILO :)