Sanctum Infinity

What is Socean Staked Sol?

Socean Staked Sol is the Solana staked on the Socean staking pool. Users have the option to deposit SOL in order to receive scnSOL tokens, representing their ownership of the stake pool. The platform takes the deposited SOL and employs an algorithmic delegation strategy designed to maximize expected returns and minimize variance.

Since scnSOL tokens are transferable and tradable, they serve multiple purposes in DeFi, offering utility and additional returns. For instance, users can use scnSOL tokens to provide liquidity in pools such as Orca or Saber, or utilize them as collateral through Solend for activities like borrowing and margin trading. Users also have the flexibility to instantly swap scnSOL for SOL through liquidity pools.

It's important to note that scnSOL tokens maintain their redeemable nature, ensuring that users can always exchange them for the equivalent SOL initially deposited. This guarantees the absence of any risk of losing the initial capital. In the worst-case scenario, scnSOL tokens are no less liquid than SOL staked to a validator.

What Makes Socean Unique?

Socean prioritizes transparency, committing to revealing staking details and avoiding undisclosed deals. They are developing a real-time dashboard for users. Unlike closed-source pools, Socean adheres to open-source practices, ensuring code alignment with the Foundation's standards.

Operating on fairness and decentralization principles, any strong-performing validator can be chosen by their algorithm. Future plans include full decentralization, letting governance token holders vote on parameters. The staking strategy involves evenly distributing among top 100 validators and employs Bayesian statistics for optimal delegation, balancing rewards and censorship resistance.

Delegation Strategy of Socean

Socean employs a transparent and principled delegation strategy, as outlined in their delegation strategy documentation. The platform strategically delegates to validators that exhibit commendable long-term performance, maintain decentralization both geographically and across data centers, and are not affiliated with the minimum security group.

By merging an assessment of validator performance with insights from financial and economic theories such as mean-variance analysis and expected utility theory, Socean aims to maximize Annual Percentage Yield (APY), minimize rewards variance, and enhance overall network health.

Socean Team Background and Partners

Prior to founding Socean, the core team comprised individuals who had worked as software engineers and data scientists. They held degrees in diverse fields such as economics, finance, law, mathematics, and computer science, obtained from renowned institutions including Oxford, Cambridge, the London School of Economics (LSE), and the University of Washington.

Demonstrating a profound understanding and commitment to Solana, the team received multiple grants from the Solana Foundation post-launch. Members of the Socean team have personally contributed to the Solana stake pool program, with their involvement encompassing the creation of 25% of the reference implementation for Solana stake pools.

A milestone for Socean involved a successful $5.75 million seed round, with Dragonfly Capital leading the investment. Other investors include CMS Holdings, Defiance Capital, Foundation Capital, Genblock Capital, Infinite Capital, Jump Capital, Marin Digital Ventures...

As far as partnerships, notable names such as Orca, Saber, Grape, Port, and UXD come up.

Socean Project Development

Socean expresses the view that existing stake pools lack product-market fit. Despite this, the team is passionate about staking and remains committed to advancing the ecosystem in three key ways:

1. They have established the Staking Alliance to bolster reputable validators and advocate for the transition to single-validator stake pools.
2. The team has developed unstake.it, a platform designed to offer substantial liquidity to all stake accounts and stake pools, enabling their utilization in decentralized finance (DeFi).
3. Socean is undergoing a rebranding process to operate its own validator, concurrently injecting vitality into the community through the introduction of the Pathfinders NFT collection.

Sanctum Infinity Price Analysis

As of November 25 2024 Sanctum Infinity has a marketcap of $69M. This is {{percentagefromath}} from its all time high of $330.73. In terms of its tokenomics, there's a total supply of 668K with 33% currently outstanding. Keep in mind Sanctum Infinity has a fully diluted value of $212M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.

Summarized in part by ChatGPT 4 and Claude