Solana DeFi Protocols Kamino Finance and Lido Finance Optimize Network Decentralization via Liquid Staking

LONDON, UNITED KINGDOM, October 31: The decentralized finance (DeFi) protocols Kamino Finance and Lido Finance have developed a novel method to help increase Solana’s decentralization and security. Instead of swapping SOL for stSOL to balance liquidity deposits, Kamino will begin directly staking SOL for stSOL through Lido, increasing the number of SOL delegated to Solana validators. Lido Finance is the biggest liquid staking token platform in all of DeFi. Lido holds the second-highest total value locked (TVL) in DeFi, with over $7 billion in assets staked. Lido’s stSOL is responsible for helping stake over four million SOL tokens with a widening variety of validators that secure Solana’s decentralized network. Kamino Finance provides automated vaults that manage concentrated liquidity positions on Solana. These positions earn fees for users who deposit their tokens to help facilitate trade on Solana’s decentralized exchanges (DEXs), increasing the overall liquidity of DeFi on Solana while providing yield opportunities for all users. Lido allows users to stake their SOL and participate in DeFi with an interest-bearing token, stSOL, representing SOL plus rewards earned from staking, currently at around 5.5% APY. The protocol stakes stSOL’s underlying SOL with validators outside of Solana’s superminority, or the number of parties that must conspire to override the network, which currently stands at 31. “Lido has been a great ecosystem partner,” said Mark Hull, one of Kamino’s core contributors. “We’re thrilled we can help contribute to the amount of staked SOL securing Solana while helping decentralize the network.” Hull said, “Lido’s great effort to ensure that SOL is staked as efficiently as possible runs in parallel with Kamino’s mission to optimize the capital efficiency of DeFi on Solana. The collaboration between Lido and Kamino is a step in the right direction for DeFi composability, decentralization, and adding value to the Solana user experience.” At the time of writing, Kamino’s stSOL-SOL vault earns users about 6% APY from trading fees on Orca’s concentrated liquidity Whirlpools. In addition, users can earn 12% APY from LDO rewards on top of the yield generated from trading activity.

Comments

Post a Comment

Popular posts from this blog

The Conference Board Consumer Confidence Index® Surged in March

NEW YORK, March 30: The Conference Board Consumer Confidence Index® surged in March to its highest reading in a year, after a modest increase in February. The Index now stands at 109.7 (1985=100), up from 90.4 in February. The Present Situation Index—based on consumers' assessment of current business and labor market conditions—climbed from 89.6 to 110.0. The Expectations Index—based on consumers' short-term outlook for income, business, and labor market conditions—also improved, from 90.9 last month to 109.6 in March. The monthly Consumer Confidence Survey®, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch. The cutoff date for the preliminary results was March 19. "Consumer Confidence increased to its highest level since the onset of the pandemic in March 2020," said Lynn Franco, Senior Director of Economic Indicators at The C
variednewsandviews.blogspot.com

APWG REPORT: Phishing Assaults Double in 2020 and October Breakd All-Time Monthly Records

CAMBRIDGE, Mass., Feb. 9: The APWG's new Phishing Activity Trends Report shows that the number of phishing assaults witnessed by APWG members increased during 2020, wholly doubling over the course of the year. Attacks topped in October 2020, with a high of 225,304 new phishing sites appearing in that month alone, breaking all earlier monthly records. In Brazil, security firm Axur saw a slower growth in the number of phishing attacks that targeted Brazilian companies and consumers in Brazil. But overall, Axur observed almost twice as many such phishing sites in 2020 as it did in 2019, a concerning year-over-year growth. APWG contributor OpSec Security found that phishing that targeted financial institutions was the largest category of phishing in the fourth quarter, at 22.5 percent of all attacks. This category nosed out webmail and Software-as-a-Service (SaaS), which experienced 22.2 percent of all attacks. Phishing against the social media sector declined slightly to 11.8
variednewsandviews.blogspot.com

Silipos Commences Active Range of Foot Care Products: New Products Offer Foot Comfort and Guard from Active Routines

NIAGARA FALLS, N.Y., March 2: Silipos, the worldwide frontrunner in gel knowhow, recently launched Silipos Active, a novel line of foot support products aimed to avert as well as alleviate pain linked to a range of prevalent sicknesses. Created with sportspersons as well as weekend combatants in mind, the Silipos Active range comprises 16 diverse products that aid avert as well as remedy a range of problems for example corns, calluses, ingrown toenails, blisters, bunions, Achilles tendonitis, bursitis, sprains, as well as common foot discomfort. "The launch of Silipos Active reinforces our mission to continually deliver innovative products that prevent injury and help people recover faster so they can stay active and get back to doing what they are most passionate about," revealed the president of Silipos, Josh Margolis, adding, "It's exciting to see the initial interest in Silipos Active from consumers and retailers, and we're confident this line o
variednewsandviews.blogspot.com