This is a super long document — feel free to jump from section to section using the Table of Contents below ⬇️
Socean (SO—shen, rhymes with Ocean) is a stake pool with the best delegation strategy and highest risk-free APYs.
For more details, check out ourMission, Vision and Values. Also look at our Roadmap for our upcoming plans.
<aside> 💰 A stake pool is like a bank account for your SOL.
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A stake pool helps stake SOL on the user’s behalf. The pool issues depositors a token (scnSOL) that can be redeemed for SOL anytime. See the Solana Foundation's official announcement on stake pools for more details.
Socean Stake Pool is an algorithmic stake pool. It makes staking decisions via transparent logic based on objective data.
SOL holders face a fundamental trade-off between liquidity and returns. While staking SOL secures the network and grants staking rewards (~7% APY), staked SOL can’t be traded or transferred. This means that SOL holders must choose between locking up their SOL to earn staking APY, or holding unstaked SOL (giving up the staking rewards) in order to participate in the DeFi ecosystem.
Conversely, scnSOL is liquid and fungible. You can thus earn staking rewards while earning extra yields in DeFi. Use scnSOL to lend, borrow, provide liquidity and purchase structured products. For more details, see our Protocol Partners page.
Stakers today manually delegate stake to one or two validators. However, keeping track of that is a chore, while switching stake from validator to validator requires waiting several days. A stake pool monitors and redelegates stake dynamically, and handles the redelegation process in a way that minimises loss of rewards. Socean also provides one of the best UIs to track validator performance and staking rewards.
Socean’s Validator Performance UI