Author: SMB 681
Hello again my friends. I’m going to be quick to the jump and push out another article while I’ve got some spare time. This one will cover one of the MonkeDAO’s latest pet project, DAOPool, a liquid staking pool aimed at furthering the decentralization and sustainability of the Solana network.
Once dubbed “the most important thing in proof of stake networks” by our Lord and Savior Anatoly Yakovenko himself, ( See Solana Podcast) staking pools like DAOPool can help to strengthen the networks they are deployed on by enabling further distribution of stake, ensuring that too much stake doesn’t end up on one, or a group, of validators. Since Solana relies on validators to ensure it remains a completely neutral blockchain, stake pools help further this goal by distributing stake to smaller validators that wouldn’t otherwise be able to acquire stake on their own.
You can find more about DAOPool here: (@DaoPool)
Now let’s get into it!
DAOPool is Solana’s first community staking pool for DAOs by a DAO!
This means that any DAO is welcome to join in on the fun! Wouldn’t you like to earn extra yield on your idle $SOL balances while also supporting some of your favorite NFT DAO projects? Convert your $SOL into $daoSOL today and start earning yield!
If you’re like me, and you rely heavily on NFT communities for a variety of things, it only makes sense to return the favor and support them. If you’re reading this, and you’re interested in getting your DAO involved reach out to the representatives at MonkeDAO for more information. (@MonkeDAO)
Currently the DAOPool is contributing staked $SOL to multiple validators being run by NFT DAO communities or their respective teams. As you can see the Degen Ape Academy (@DegenDAOO) and Thugbirdz (@ThugDAO) are also running validators to help support the Solana network, DAOPool is happy to contribute stake to their validators.
Each $SOL staked in the pool is distributed to the Solana communities’ validators, with the goal of further decentralizing the network while also supporting all DAOs. As DAOPool continues to expand, it will also be looking to supply $SOL to more and more validators, further growing Solana as a whole. If this sounds like something your project is interested in, once again, reach out to the MonkeDAO, we’d love to see where we can help facilitate your plans.
As you can see from comparing the numbers above and below (snapshot above taken today) the DAOPool is quickly expanding, with the numbers of $SOL staked continuing to rise every day. I’ve even heard there are 20k+ more $SOL waiting to be disbursed for the next epoch.
A good problem to have for a staking pool so new to existence. Less than 2 months and the DAOPool is already pushing major boundaries, that at its inception, the MonkeDAO was seriously worried about not pushing. It is great to see so many members of the Solana community step up to support the project. Great things to come in the future as well, this is only just the first step for DAOPool and $daoSOL.
In the coming months I would be on the lookout for the DAOPool team to continue working to get $daoSOL integrated into as many Solana applications as possible. Similar to Marinade Finance’s $mSOL token, DAOPool intends to bring as many use cases to $daoSOL as it can. A bright future for DAOPool and Solana are ahead, don’t forget to bring your shades.
P.S.
The Saber Wars Rage Onwards
Saber has just finished another epoch and the gauge weightings have shifted.
Are you paying attention anon?
Originally published at https://smb681.substack.com on February 4, 2022.
