EverSOL Stake Pool. Overview
Solana (SOL) Staking Evolution: Join for Good
Recently, right on New Year’s eve, Everstake has announced the EverSOL Stake Pool launch. In this article we will provide a brief overview of the EverSOL product, its goals and Vision, the Roadmap and the Team behind.
EverSOL Stake Pool’s main objectives:
- Facilitate and boost the growth of the DeFi and Solana ecosystem.
- Increase network safety, integrity, and decentralization. You stake to an entire pool of selected validators simultaneously. It helps to achieve maximum network decentralization and optimal staking parameters.
- Promote censorship resistance.
- Stake your assets as in regular staking to earn daily rewards, the rest is handled by EverSOL Stake Pool — from the stake account management to validators selection and automated rebalancing.
- Provide a liquid asset minted for each staked SOL token, in order to extend the range of possibilities for the delegators to profit off.
From February 1st, we are cancelling all Stake Pool management fees for the period of two months! Stake to EverSOL and earn the maximum possible rewards while also supporting DeFi.
Currently, EverSOL Stake Pool allocates staking rewards as following:
- 7% is allocated to EverSOL Treasury. At a later stage (please follow the Roadmap), the EverSOL DAO will be created, which will operate the Treasury and decide on the funds distribution. The DAO fund will be used to finance the best products built on Solana.
- 93% adds to the SOL balance and increases the rate of exchange (ROE).
Read more about the fees and rewards distribution.
Why delegate to stake pool, and EverSOL in particular?
Stake pools on Solana, and EverSOL in particular, support the network decentralization and carry out the process of stake distribution among the set of selected validators.
Based on the assumption that the developed Delegation Strategy allows the stake to be distributed more equally, it helps to protect the network from the concentration of the stake in specific validators. Also, the stake pool is “an insurance against the individual validator downtime”.
EverSOL Stake Pool is built using the standard Solana contract, but we want it to be special — different from existing pools: EverSOL dedicates a percentage of the pool rewards (6–7%) to fund the most inspiring solutions built on Solana. Unlike other stake pools, we will directly facilitate and boost the DeFi ecosystem by helping new apps and projects come to life. For that, the EverSOL DAO is planned to be launched.
Additional benefits of delegating to stake pool
- Instant unstake
Claim the instant unstake to skip general Solana unstake period and undelegate immediately. Use standard (delayed) ustake if the instant unstake is not available (no enough liquidity in the pool).
- Assets liquidity
By staking SOL you obtain eSOL tokens minted, which you can then use in DeFi, in order to generate additional income. With eSOL, you will be able to lend, swap, or farm yield once the stake pool is fully integrated into the ecosystem. Currently, you can join Saber eSOL-SOL LP and vote for it on Tribeca. Check our Guide on how to benefit from it.
Delegate the task of choosing the optimal set of validators and staking parameters to EverSOL. Simply add your SOL to the pool and enjoy the additional advantages while earning income from staking.
- Stake SOL
Proceed to EverSOL and connect your wallet to start staking. Note that it takes an epoch for your stake to be distributed amongst the pool validators in order to start earning rewards.
2. Obtain eSOL minted
Get eSOL tokens in return. Initially, the liquid tokens are minted in the 1:1 proportion to your stake. Read more.
3. Use eSOL in DeFi
Feel free to visit DeFi page: we will list the partnerships with liquidity protocols, once available. Enjoy more benefits while earning usual staking rewards.
The DAO is coming soon!
The EverSOL Treasury fund will be operated by EverSOL DAO, which will decide on the funds distribution through the Governance mechanism.
Each delegator will be able to vote for Solana projects selected by DAO with the pool’s Governance token (EVS), which is meant to be earned through staking.
Read more in Vision.
- EverSOL SP UI/UX; frontend + backend (mid October’21) — done;
- EverSOL SP Testnet launch (11–2021) — done;
- EverSOL SP Mainnet launch (12–2021) — done .
- DeFi page (01–2021) — done;
- Frontend re-design (02–2022);
- Liquidity Providers partnerships (02–2022);
- Adding features to EverSOL SP (02–2022);
- EverSOL DAO and Governance proposal (03–2022);
- Product marketing (03–2022);
- EverSOL SP Audit (03–2022).
Check the latest updates to the Roadmap in our Docs.
EverSOL is developed by one of the largest validators on Solana — Everstake Company. Everstake has a proven record of high-quality product development for various blockchains.
Some of our products:
- Terra Wormhole Bridge;
- Everstake’s Staking Balance Dashboard;
- ICON Vote Monitor;
- Elrond Monitor;
- Oasis Monitor;
- Staking API for Exodus, Atomic, Guarda wallets;
- Everstake’s Affiliate System for delegators;
- Development on EOSIO;
- Harp,ONE-DOT Bridge.
We have also helped to develop SolStarter, Audius and several parts of SPL (Solana Network).
Ready to Stake? Connect your Wallet!
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