Solana and the DeFi projects of this ecosystem are one of the areas that receive a lot of attention from the cryptocurrency community. This is not only due to the price increase of SOL, but also due to the incentives that the restaking platforms on this ecosystem are providing. So how to optimize profits through restaking with the Solana ecosystem? Let's explore this through the article below.
Guide to optimizing profits through restaking with the Solana ecosystem
What is Solana restaking?
Solana is a Layer 1 blockchain created to solve hundreds of thousands of transactions per second at low cost. Currently, Solana is using both Proof of Stake and Proof of History mechanisms and is the first blockchain web-scale aimed at widespread application in many cases such as Non-Fungible Token, payments, gaming,...
Liquid Restaking can be understood as the way users can optimize the profits from the amount of SOL they are holding. Users can access platforms like Jupiter, Sanctum, Save Finance (old Solend),... to Stake SOL and receive LST (Liquid Staking Token) in return.
With these LRT, users can Stake, lend and borrow or farm Airdrop to continue performing the next tasks, thereby optimizing the entire capital that the user is holding.
Guide to optimizing profits through restaking with the Solana ecosystem
- Step 1: Access Kamino Finance and select Deposit SOL, here users can Borrow other LST such as mSOL, bSOL, JitoSOL, in this article Coin68 will borrow JitoSOL.
- Step 2: Find JitoSOL and click Borrow, moreover, users can choose other LST to use them for different purposes.
- Step 3: Access Sanctum and swap the amount of JitoSOL just borrowed in step 2 into BNSOL.
- Step 4: Access Solayer and Deposit the amount of BNSOL just Trade in step 2.
Conclusion
The above is all the information about how to optimize profits through SOL, through the article, Coin68 hopes to provide readers with the most comprehensive overview of the Solana ecosystem as well as how to find more profits through SOL.
Note: Coin68 is not responsible for any of your investment decisions. Wish you all success and earn a lot of profits from this promising market!
