Editorial Notes (vol. 4)
Last week was on fire! Or should we say 💦 ? Omni released two liquid staking integrations — one for Polygon and the other for Solana, both powered by Lido. This week, instead of simply adding and highlighting dApps that caught our attention, we’re introducing weekly feature collections — themed collections of dApps that will focus on current developments in Web3. This week, our collection aligns with our newest liquid staking integrations. 💪
Now that SOL and MATIC liquid staking are available in Omni, we’ll first take a look at a few strategies you can take advantage of to put your stSOL and stMATIC to work, with dApps that can be found on our Explore Screen.
Extract the most yield out of your stMATIC and stSOL
The beauty of liquid staking is in it’s mechanic of not requiring any liquidity lock-up while still earning staking rewards. In return for liquid staking a token, you receive a “derivative” token of the one you staked — SOL → stSOL or MATIC → stMATIC. These tokens can be used just as one would use the native token — across yield farming, liquidity providing, and trading. Below are our favorite strategies to use when we want to earn additional yield on our stSOL or stMATIC tokens.
MATIC liquid staking is done on the Ethereum mainnet. Therefore, you’ll need to bridge your stMATIC to Polygon via one of the bridges before you can start earning with the following strategies.
Once you liquid stake your MATIC, you’ll start accruing ~8.5% staking rewards and receive stMATIC back. If you want to boost the earning potential, head over to Quickswap where you can start providing liquidity in the stMATIC-MATIC pool and earn a 0.25% fee on all trades proportional to your share of the pool. By being an LP, you’ll receive the stMATIC-MATIC LP tokens, with which you can go to QuickSwap’s liquidity mining program and deposit those tokens in order to earn LDO and dQUICK tokens at a bit more than 30% APY.
If you don’t want to receive your liquidity mining rewards in LDO and dQUICK tokens, try out Beefy. It is a yield optimizer that automatically maximizes user rewards from liquidity pools through its automated strategies. After providing liquidity to Quickswap, go to Beefy and deposit your stMATIC-MATIC LP tokens in the stMATIC-MATIC LP Vault. Earned token (dQUICK in this case) is swapped for more of the underlying assets in order to acquire more of the same liquidity token and compounded in the Vault.
Balancer offers the lowest returns on stMATIC amongst the three, but it takes the least effort to put your stMATIC and MATIC to work. Just go to Balancer and find MATIC-stMATIC under their Investment Pools, where you’ll be able to pool your tokens and earn swap fees in the underlying token.
Stake SOL in-wallet to get stSOL, which at the time of writing earns you 5.28% → Go to Saber and supply your stSOL and SOL into their pool → Stake your LP tokens on Quarry in the Saber stSOL-SOL LP pool and earn additional 17.42% yield in LDO (Lido token).
Stake SOL in-wallet to get stSOL, which at the time of writing earns you 5.28% → Navigate to Orca’s page, connect with your Solana wallet and partake either in their traditional pools or Whirlpools (achieve higher capital efficiency by concentrating liquidity in a specific price range). The stSOL - USDC pool has around 8.2% APR and the stSOL - USDT poll has around 11.1% APR. If you aren’t afraid of impermanent loss, you could utilize their stSOL - USDC Whirlpool and benefit from a much higher APR at around 230%.
With Friktion, you can access income generating strategies which run automated covered call selling strategies. First, liquid stake your SOL in Omni and go to the Friktion dApp, which you can find on our Explore Screen under the Solana section in the ”Derivatives Platforms” collection. Once there, go to “Volts”, deposit your stSOL, and start earning a projected 17.1% APY.
On top of our liquid staking strategies feature, we’ve also introducing a few new projects that caught our attention to the Explore Screen. Check out a brief overview of them below 👇
Leverage your funds without the risk of liquidation and access self-repaying loans with Alchemix.
Alchemix just expanded from Ethereum to Fantom. With Alchemix you can borrow a synthetic version of the asset you deposit and avoid the risk of liquidation. Using your collateral, Alchemix earns yield on your behalf to pay off your loan automatically while you can still use your credit for spending, further borrowing, or saving.
Trade perpetual swaps on Pika with up to 50x leverage or bet against all traders on the platform by depositing USDC into their Liquidity Vault.
On our Explore Screen, you’ll find Pika under Optimism in the Derivatives Platforms & Marketplaces collection. Once in the dApp, you can trade multiple tokens with up to 50x leverage and very deep liquidity — the expected slippage for a $10k ETH-USD trade is 0.02%. The protocol is backed by liquidity providers and if you want to bet against all traders on the platform, you could supply USDC to their vault. The vault pays for trader profits and receives trader losses. When traders lose, the vault wins and the current APR is aroud 53%.
Watch the wallets of people you know from Twitter with Context.
Context is the easiest way to watch on-chain activity in other people’s crypto wallets so you never miss out on new and trending NFT collections. Besides watching the wallets, you can also observe on-chain activity of any collection, set alerts for on-chain events such as sales, transfers, etc.