Additional rewards for using $stSOL as collateral
May 31, 2022
Yesterday, we announced that stSOL is our new collateral.
Now, to encourage you to use this token, together with Lido, we decided to introduce an additional rewards system for using this token 🎁
To become a participant you need to deposit stSOL as collateral in our app and mint debt.
The higher the debt and the amount of stSOL, the higher the reward. Each Monday we will distribute LIDO as a reward 💰
We will also automatically send it to your wallet - there will be no need to claim it yourself.
Remember, to receive these rewards you have to be a debt pool participant
Distribution will be conducted on a credit basis, which is calculated based on two values:
Thanks to this feature, it will be possible to get a double reward 🎁🎁
First in SNY, for participating in the debt and the second one in LIDO for using stSOL as collateral.
Lido is a DAO that provides its users with more liquidity. The platform lets you use your staked assets to gain yield on top of yield. Users earn rewards for their staked SOL. Moreover, they can sell their staked tokens or use them as collateral on DeFi platforms. The whole process is approved by the validators chosen through the Lido DAO.
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