Introducing xSOL Pool
New Pool in Larix Lending Launchpad
Hey Larixers! We are adding a new pool to the lending launchpad: xSOL pool! Which will go live on April 28th at 11 AM UTC.
To begin, let’s meet all of the assets in xSOL pool: SOL, mSOL, stSOL, scnSOL, and JSOL.
mSOL — Marinade Finance (https://marinade.finance/app/staking)
Marinade Finance is a non-custodial liquid staking protocol built on Solana. Users can stake SOL tokens with Marinade using automated staking strategies and receive “marinated SOL” tokens (mSOL) that can be used in decentralized finance (DeFi).
stSOL — Lido Finance(https://solana.lido.fi)
‘Lido for Solana’ is a Lido-DAO governed liquid staking protocol for the Solana blockchain. Anyone who stakes their SOL tokens with Lido will be issued an on-chain representation of SOL staking position with Lido validators, called stSOL.
scnSOL — Socean Finance(https://www.socean.fi/app/stake)
Socean (SO — shen, rhymes with Ocean) is a suite of win-win DeFi products on Solana. Socean Stake is a staking pool for the Solana blockchain. Users can deposit SOL to receive scnSOL tokens, which represent that user’s ownership of the stake pool.
JSOL — JPool(https://jpool.one)
JPool is a staking pool on the Solana blockchain network enabling safe, secure, high-yield rewards on your staked SOL.
The collateral factor of these SOLs has been set to 96% and we expect this to be useful for the utilization of your SOL derivative assets. By Supplying tokens into our xSOL pool, you can earn dynamic APY interest. After supplying and earning APY on assets, you can then borrow against those assets, as the supplied assets are used as collateral for borrowing. We welcome DeFi enthusiasts to maximize their yields by looping at the Larix xSOL pool.
Rewards
Utilizing the xSOL pool will be incentivized with the following:
$LARIX for SOL deposits and borrows.
$MNDE & $LARIX for mSOL deposits and borrows.
$LDO & $LARIX for stSOL deposits and borrows.
$LARIX for scnSOL deposits and borrows.
$LARIX for JSOL deposits and borrows.
These incentives will run for 3 days, starting after the pool launches (04–28 11:00 AM UTC).
For those interested in participating in xSOL pool, here’s how to proceed.
Step 1: Go to https://projectlarix.com/ Click ‘Connect’in the upper-right corner.
2. Select the wallet to use, we will use Slope wallet as an example.
3. Click ‘supply’ on the right side, and select which token you want to supply.
4. To borrow assets, you need to enable the ‘collateral’ button first.
5. Click ‘Borrow’ on the right side, and select which token to borrow.
Larix doesn’t charge any borrow fees which means that you do not need to pay borrowing fees every time you borrow, which is extremely convenient for loop yield farming.
More isolated asset pools will be launched very soon!
