Navigating Solana DeFi

Part 4 — How to earn Solana and mSOL using meteora.ag

There is no financial advice in this article and it is for educational purposes only.

Image from Forbes

Good morning! Let’s take advantage of the growing interest in the Solana ecosystem and rising price by leveraging the power of DeFi to earn more.

Today we taking a peek at one of the most valuable pools in all of DeFi at the moment (my opinion) to learn how to use our Solana position to earn Solana as income.

meteora.ag

The more you have in the pool and the longer you can stay, the more Solana that you will earn while you sleep. Learn more about meteora.ag, here.

This is valuable because it is currently paying more than a native stake while still being passive. Let me show you a way to maximize your rewards:

The best way to get your mSOL is to take advantage of the liquid staking feature on marinade.finance. They are giving out free $MNDE til the end of the year for those who use the staking service.

This is the one you want to get mSOL, you will also earn free MNDE for a limited time. Thanks for using my link if you found out about it through me.

Once you have your SOL and mSOL ready in your wallet, make a balanced deposit into the meteora.ag mSOL — SOL pool. This will give you a 50% SOL 50% mSOL position and some LP tokens that represent that position in the pool.

(Learn more about using Solana wallet’s, here.)

Make sure to use a balanced deposit on meteora.ag of 50% mSOL 50% SOL to avoid loss of funds.

This is how the button should look to make an even 50/50 deposit.

Now your mSOL and SOL will be earning you more mSOL and SOL! congrats!

We like the mSOL — SOL LST pool on meteora.ag because there is a lower risk of impermanent loss (or losing SOL) than many other pools and we don’t have to keep up with it as much as a CLMM on raydium.io, for example. You can read about the LST Pool tech, here.

The more fees that you collect to build your LP position, the more SOL/mSOL you will earn over time. You can withdraw the SOL/mSOL at any time. Here is a medium article by meteora.ag explaining how the pool works.

To withdraw you just click withdraw and then either select “balanced” or choose which coin you want to be paid in.

The more people that use Solana and liquid stake through marinade, the higher the price will go for mSOL. The more people that use mSOL, the more fees this pool will earn and the more you will make.

Keep in mind that all DeFi is all still very risky which is why we use small amounts and still keep a good chunk (most) of our Solana in a native automatic stake through marinade.

Feel free to ask questions in the comments and I will keep updating and improving these guides over time as the ecosystem evolves.

(It is always a good idea to use a smaller portion of funds for DeFi related to your native stake and never risk what you can’t afford to lose.)

To review the Quick Start Guide to Solana DeFi:

Part 1

Part 2

Part 3

How to store your coins

Thanks for reading and thank you for using my link to marinade.finance , Solana’s largest liquidity provider and staking service that reduces the risk of slashing by automatically dividing your stake among the top 136 validators.

Learn about meteora.ag

Learn more about marinade

Learn more about Raydium

You can support articles like this by donating $SOL (or $mSOL) directly:

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make your own validator

make your own DAO

(This article is not financial advice. For educational purposes, only)