❄️snowSOL
The ever yielding LST. Keep snowSOLing!!
What is snowSOL?
snowSOL is a LST or Liquid Staked Token. It represents a staked position in a validator which helps validate the Solana blockchain, in return you are compensated with the work this validator does.
The cool idea about snowSOL is that it is composed of two main parts: the user available stake and snow stake:
User available stake:
When you deposit into the stake pool through Sanctum, Sanctum tokenized your position and it gives you snowSOL in return. There is a deposit fee and withdraw fee that is locked forever in the snow pool. Some of the yield goes to the snow pool too.
Snow pool:
This is composed of yielding positionsm, mainly staked SOL, that earn yield. This yield is compounded over and a small part of it is returned in the snowSOL token.
This snow pool can be benefited with delegations from the Solana fundation, stake from stake pools such as SolBlaze or Marinade, arbitrage, etc. Which will benefit the main LST yield too.
This system enhances yield by locking and compounding part of it forever, basically snowballing forever or better said, snowSOLing!!
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