How to earn #2: Trading with mSOL
January 25, 2022
In the second part of the How To Earn series, we will focus on maximizing your profit using mSOL by Marinade.
mSOL is a liquid staking token that you receive when you stake SOL on the Marinade protocol. These mSOL tokens represent your staked SOL tokens.
They act as a receipt, allowing you to exchange them back to your staked SOL and the earned rewards.
Meanwhile, you can use mSOL in DeFi, while enjoying your staking rewards.
You can read more about mSOL and Marinade here
mSOL is a collateral token therefore you can deposit it and mint synthetic assets on our platform, hence you will receive double rewards,
Remember, that you can mint a synthetic asset for deposited collateral (mSOL in this case) and then you can earn for trading this synthetic asset.
You can learn more about double rewards here
Not so long ago, we introduced a new feature to our application - borrowing.
You can read more about it here
One of the features of borrowing is the ability to LONG and SHORT a single asset.
As mentioned above, the APY for mSOL stacking is about 7%. Interest rate for borrowing xSOL is 4%. Therefore, this pair is called self-repaying.
How to use it?
For example, when adding liquidity, the APY for delivering xSOL may be higher than mSOL.
In this case you earn for:
Sounds better than just hodl, right? 😎
Read the latest updates
Decide about the future of Synthetify
Our policies about data
Learn more about Synthetify
Frequently asked questions
Check our plans for the future
Learn more about project
Security audit report
Join our Discord server
Visit our Twitter profile
Join our Telegram server
Find us on Github
Visit our Linkedin profile
How rewards works
We became DAO
How to use it
xDOGE is a new synthetic asset
© 2021 Synthetify Labs