Solana storage scaling solution Xandeum has hit a new milestone with its liquid staking program. More than 30K SOL, worth over $8M, is now staked through Xandeum, with the rapid growth in TVL driven by its industry-leading APY of around 15%. That’s double the APY of other liquid staking pools like Jito and Marinade.
Xandeum’s staking pool enables Solana users to participate in SOL staking while utilizing a liquid staking token with various use cases. The Xandeum staking pool now offers an average APY of more than 15%, placing it ahead of other leading SOL staking programs. More than 2,700 different wallets have already been staked to Xandeum’s native Solana validator, with the number set to increase significantly following the transition to Xandeum’s storage-enabled liquid staking platform.
Xandeum stakers can enjoy the highest SOL staking yield due to the program’s quadruple rewards system. This includes block rewards, staking rewards, XAND rewards, and MEV rewards, pushing the total APY to more than 15% (at the time of writing). Solana validators usually claim MEV and block rewards, but Xandeum shares them with stakers to boost total APY, making it the first liquid staking protocol to do so programmatically.
Xandeum CEO Bernie Blume said, “The intense demand we’ve seen for the Xandeum staking program shows the level of interest in liquid staking on Solana. By fairly apportioning MEV and block rewards between stakers and validators, we’ve shown that it’s possible to pioneer an equitable system in which everyone prospers while contributing to the security and decentralization of the Solana ecosystem.”
XAND rewards available to stakers have been higher than normal during the bootstrapping phase of Xandeum’s staking pool, providing additional incentives for Solana users to stake their SOL. The forthcoming launch of Xandeum’s scalable storage layer, which integrates directly into Solana RPC nodes, will further boost rewards by granting a share of the fees paid by apps utilizing the solution. It’s future-proof staking with more rewards to come.
Xandeum’s storage solution will allow Solana dapps to scale by accessing exabytes of data. This will support new use cases such as porting data-rich web2 apps to web3. Xandeum has been designed to solve the blockchain storage trilemma, being scalable, smart contract-native, and supporting random access.
The increase in TVL for Xandeum’s liquid staking program is significantly contributing to the growth of LSTs on Solana. In the process, it’s democratizing access to Solana staking and helping to further decentralize the network. By sharing MEV and block rewards with SOL stakers, Xandeum is pioneering a fairer staking model. On top of that Xandeum is transferring all pool fees directly into the Xandeum DAO treasury where XAND token holders have governance over it.
About Xandeum
Xandeum is a storage scaling solution for Solana and the world’s first storage-enabled liquid staking platform. Powered by the XAND token, Xandeum is on track to launch its storage provider network in early 2025, delivering a breakthrough in decentralized Solana storage that will power a new wave of dapps.
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This post was last modified on Nov 21, 2024, 07:48 GMT 07:48