[ELSOUL LABO B.V.] New Solana Chain LST (Liquid Staking Token), elSOL released *ELSOUL LABO B.V.*
Press release: July 8, 2024
**
New Solana Chain LST (Liquid Staking Token), elSOL Released
*Provides an efficient and cost-effective staking solution*
ELSOUL LABO B.V. (Headquarters: Amsterdam, Netherlands, Representative Director and CEO:
Fumitake Kawasaki) and Epics DAO, which operates the Web3 NFT card game established by the company to support open source software development.
is Solana
We promote innovation and sustainable development of blockchain technology through the development and operation of “solv”, an open source tool for blockchain validators. This tool is approx.
After a year of operation, Solana has proven its performance and reliability, and is now being used by many users.
It is widely used on blockchain mainnet and testnet.
We have now released “elSOL”, a new LST (Liquid Staking Token) on the Solana chain.
* What is elSOL? *
elSOL is solv
It is a tokenized staking account based on a high-quality pool of validators managed by our development team. This pool is made up of multiple experienced and high-quality validators, and routine software updates are performed with no downtime, achieving high validator scores and stability. The validators supporting this pool pay user fees.
It operates at 0% and provides an efficient and cost-effective staking solution.
elSOL – SOLscan:
https://solscan.io/token/ELSoL1owwMWQ9foMsutweCsMKbTPVBD9pFqxQGidTaMC
elSOL is Solana’s official Stake Pool
We utilize a program in which the value of the underlying stake account increases after each epoch, and the amount of SOL each elSOL represents increases accordingly.
Solana Stake Pool Program: https://spl.solana.com/stake-pool
Why elSOL?
elSOL
The main advantage of is its composability (interoperability). A tokenized stake account can then be used by any program that manipulates tokens. This allows elSOL
will be integrated with other Solana DeFi protocols like Jupiter, making it possible to offer a variety of financial services.
Jupiter:
https://jup.ag/swap/SOL-ELSoL1owwMWQ9foMsutweCsMKbTPVBD9pFqxQGidTaMC
A liquidity pool is also listed on Orca, and while SOL is staked and turned into elSOL, the elSOL
You can maximize your rewards by supplying liquidity pools with
Orca elSOL Liquidity Pool (LP):
https://www.orca.so/pools?tokens=ELSoL1owwMWQ9foMsutweCsMKbTPVBD9pFqxQGidTaMC
Owning an elSOL allows you to own almost any Solana while retaining the assets that increase the value of your SOL.
program is available. This creates new opportunities to leverage staked assets.
Benefits of retaining elSOL
1. * Immediate liquidity: * elSOL allows you to obtain liquidity immediately without waiting for the end of the epoch. For example, to purchase an NFT
If you need 5 SOLs, instantly exchange your elSOLs for SOLs and the remaining elSOLs will continue to earn rewards.
2. * Automatic MEV Rewards Collection and Compounding: * elSOL automatically collects and compounds MEV Rewards, so SOL
increases in value. This is more efficient than manually collecting and reinvesting MEV rewards.
Currently, elSOL can be easily staked with one command using the solv CLI. We will soon release an elSOL application and update the UI. We also plan to make staking possible.
solv: https://solv.epics.dev/ja/
New feature: About solv MEV mode
MEV stands for Maximum Extractable Value and refers to the pursuit of as much profit as possible. solv
is equipped with MEV mode, which allows validators to easily configure settings to maximize revenue.
With solv’s new MEV mode, you can automate your compensation management and maximize your returns by doing it diligently.
Epoch timer checks the status of epochs in the revenue cycle and executes the right task at the right time.
This task involves aggregating and redistributing the required rewards for each epoch. In MEV mode, always use the appropriate amount of SOL as elSOL.
By converting it to a designated account and sending it to the designated account, you can automatically accumulate compound interest staking rewards without any effort.
For more information, please see the release notes below.
solv v4.2.8 – Release notes (GitHub):
https://github.com/EpicsDAO/solv/releases/tag/%40epics-dao%2Fsolv%404.2.8
About El Soul Lab and Epics DAO
The core teams of El Soul Lab and Epics DAO are also actively involved in the development of open source software.
We have developed two open source software, “solv” and “Skeet,” and operate these open source projects.
“solv” is an open source tool that simplifies the setup and operation of Solana validators and RPC nodes.
Generally, in order to receive compensation as a blockchain validator, you need to prepare machine resources with appropriate specifications, install and complete the setup of validator software according to the documentation, and perform update work several times a week. there is.
This series of tasks requires all validators to perform the same tasks, and requires specialized knowledge as a server administrator, creating a high barrier to entry even for users who want to receive incentives. .
With solv, you can easily install Solana by copying and pasting just three commands.
The validator will launch. Taking advantage of the characteristics of open source development, updates can be done by just one person in the world, and all that is left to do is download them. solv
Users can also complete daily update tasks with a single command.
solv official documentation: https://solv.epics.dev/
“Skeet” is TypeScript
It is an open source serverless app development tool using , which eliminates infrastructure design and management, speeds application development, flexibility to quickly develop only the required functions, and AI.
It provides a modern application framework that reduces learning costs with extensive support and supports the development of dApps and Web3 apps.
Skeet official documentation: https://skeet.dev/
Research paper “Skeet: Towards a Lightweight Serverless” by the Skeet development team at El Soul Labs
Framework Supporting Modern AI-Driven App Development” on April 28 and 29, 2024. ENASE 2024, an international software engineering conference held in Angers, France, on Sunday
It was announced in Dr. James took the stage as a representative, and his presentation received high praise from many participants.
ENASE 2024: https://enase.scitevents.org/
This research is based on modern AI
We have proposed a lightweight serverless framework to support driven application development, and it was published in the proceedings of an academic conference. Also, Google
Scholar and Scopus
It is also indexed by several major academic literature search services, including , and is widely available to the research community.
Research paper “Skeet: Towards a Lightweight Serverless Framework Supporting Modern
AI-Driven App Development” – SciTePress:
https://www.scitepress.org/PublicationsDetail.aspx?ID=Rza3TGE30Xw=&t=1
In order to promote various innovations, we will continue to actively engage in the development of open source software and support the entire development environment of open source projects.
Thank you for your continued support.
* ■ Company profile *
– Company name: ELSOUL LABO B.V.
– Representative Directors: Fumitake Kawasaki, Shota Kishi
– Business content: Software research and development (AI, cloud, blockchain) – Established: September 2020
– Address: Weteringschans 165, 1017XD Amsterdam, Netherlands – Certification: Dutch Government WBSO (Advanced Research and Development), Google Cloud Build Partner, International Academic Conference ENASE2024
Research paper accepted
– Company URL: https://labo.elsoul.nl
– Official Discord: https://discord.gg/H2HeqRq54J
– Press kit: https://labo.elsoul.nl/ja/press-kits
* ■ DAO overview *
– DAO name: Epics DAO
– Founders: Fumitake Kawasaki, Shota Kishi
– Business content: Research, development and operation of social contribution blockchain games
– Established: June 2022
– Award: Solana Summer Camp Hackathon 2022 5th place
– DAO URL: https://epics.dev
– Twitter URL: https://twitter.com/EpicsDAO2
– Official Discord: https://discord.gg/GmHYfyRamx
*This article is not intended as investment advice. Additionally, the information contained in this article is current at the time of writing. Please check the latest information. Always NFA
/ DYOR please.