🟣SOL Super Staking

Highest SOL real yield in the market.

Explanation of the SOL Super Drift Staking

The SOL Super Drift Staking stands as a foundational cornerstone for enhancing economic security on Solana and liquidity on Jupiter Perp DEX.

We acquire JLP and hedge the BTC and ETH exposure, while recreating the full 100% SOL exposure through dSOL and SOL perps.

Where does the yield come from?

Let’s explore the key sources of yield for the staking vault:

JLP fees — 28.04% APY as of 10/15/2024 (75% of trading fees, borrowing fees, mint / burn fees, liquidation fees from traders trading on Jupiter Perp DEX)
dSOL staking, earning Solana’s inflation rewards, priority fees, and MEV opportunities — 8.63% APY as of 10/15/2024
Funding fees from Perpetual Shorts on ETH and BTC (Longs usually pay shorts perps funding) — ~18% APY and ~24% APY respectively on ETH and BTC

This strategy allows you to maintain 100% pure Solana exposure while earning an impressive 30% APY Real Yield on your SOL.

It’s a powerful solution for maximizing yield while staying aligned with Solana’s ecosystem, supporting the economic security of Solana while providing liquidity to Jupiter and Drift.

What is dSOL?

dSOL (Drift SOL) is a liquid staked Solana (LST) on Drift DEX. As a staker, you earn yield from multiple sources: Solana’s inflation rewards, priority fees, and MEV opportunities.

If you’re familiar with JitoSOL, think of dSOL as its direct counterpart, but designed specifically by Drift DEX.

More info about what is LST: https://www.bitcoin.com/get-started/what-is-a-liquid-staking-token/

At the time of writing, the APY for dSOL sits at a competitive 8.63%.

https://app.drift.trade/earn/dsol-liquid-staking

What is pyUSD?

PYUSD is a stablecoin developed by PayPal, offering complete safety and transparency. We prioritize its use in our strategies because its borrowing fee is approximately half that of USDC. This translates to greater savings for the staking vault depositors, ultimately boosting overall yield.

Traditional SOL staking options

JitoSOL yield loop on Kamino (Depeg risks) — 13.19% APY
Pure staking on JitoSOL, JupSOL, dSOL — ~8% APY
SOL lending — ~4% APY

The Sol Super Drift Staking sets itself apart from the competition, offering a unique approach to maximizing returns.

What are the risks compared to the original JLPDN vault?

In addition to the risks outlined in this article, we want to emphasize that depositors are fully exposed to SOL’s market performance. This means you have the potential to capture both upside gains and downside losses depending on SOL’s price movements.