I've been hella bullish on Solayer for the past couple months and have been literally begging y'all to get this bread with me.
Last month, Solayer announced a funding round led by Binance Labs.
A few days later, they announced they are now partnered with Renzo, which is one of the biggest Ethereum restaking protocols.
They are really about to take the EigenLayer playbook and run it back on Solana.
Solayer is still in early beta, so they are adding features in iterations that they are calling epochs. We've been in epoch 4 for a few weeks, which added the ability to "delegate to endogenous AVSs (e-AVSs) to earn additional rewards and contribute to securing them via swQoS."
I know what some of those words mean: "delegate ... to earn additional rewards."
So yeah, let's do that! Here's what I recommend.
(nfa, dyor, dsmtycatl*)
The easiest way to farm Solayer
Figure out how much SOL you're going to use to farm. We'll use 100 SOL for example here.
Right now, you can only use sSOL for things like delegating. If you stake SOL for INF on Sanctum, then restake INF for sINF on Solayer, there's nothing you can do with it except look at it sit in your wallet. I imagine we'll see utility for sINF in epoch 5 or 6.
So, don't worry about that context, and just go to the Solayer app (ref link) and stake 100 SOL for sSOL.
Once you have your sSOL, go to Kamino's sSOL - SOL LP. I put 50 sSOL here (either single-sided or if you have another 50 SOL to match, you can go double-sided). This will also earn you extra sSOL in incentives. Also, don't forget to stake KMNO if you're holding for an added multiplier on Kamino S3 points.
Open the Delegate tab in Solayer. I put 10 sSOL on each of the 4 protocols. You actually get ANOTHER token for delegating (SONICsSOL, BONKsSOL, etc), which could be used in other pools down the road as this infra is built out. The existing four options:
Sonic - A new game-fi L2 on Solana that recently raised a round, could lead to Sonic airdrops (I know they have a point system, but not sure if this affects it yet)
HashKey Cloud - "Users who stake with HashKey Cloud node will be eligible to get HSK airdrop. Airdrop details will be shared once available."
Bonk - delegating to Bonk will probably earn you some Bonk down the road
AltLayer - this is another Binance Labs backed project, which is similar to Dymension, in that it allows easy rollups (Rollups-as-a-Service) in the modular blockchain space.
Connect your wallet to Renzo (ref link) and see if the ezSOL waitlist has been opened. If you're lucky, you'll be able to trade in that janky old* sSOL for ezSOL. I still haven't found my opening yet, but just a few hours ago they were tweeting about ezSOL during the Token2049 conference in Singapore. So, in all honesty, this pool opening up could be imminent.
Help, I've still got 10 sSOL left!
Me too, buddy. Me too.
If those tokens' idle status is really burning a hole in your wallet, here are your options:
You can hit the Defi tab and lend sSOL on Orca, but don't expect any tokens from them.
You can add to your delegations or Kamino position.
ty, <3 rhiza
Footnotes
dsmtycatl: don't spend more than you can afford to lose
I've been typing sSOL for like 30 minutes, yes it's janky and old now