It's coming home

tl;dr

• The Socean Stake Pool is now the Sanctum Stake Pool

• Sanctum will use the stake pool to kickstart the infinite-LST future

• Existing scnSOL stakers don’t have to do anything: you will continue to earn staking rewards

Hey there! Just a little bit about our backstory. You may not have known, but we’re the team behind Socean Finance. Ever since we worked on the SPL stake pool program with Solana Labs, and first launched Socean Stake Pool back in August 2021 as the second stake pool on Solana, we’ve always had a passion for making SOL liquid.

We quickly realised that our vision would not be best fulfilled by a stake pool alone. And as you’ve known, over the past year and a half, we’ve been working on Sanctum. Sanctum represents our vision - a grander vision of creating a completely new staking meta.

They called our vision impossible. But we needed to do the impossible. And we’ve made good progress - with almost $200m in cumulative volume serviced, multiple partnerships and helping to kickstart DeFi Summer 2.0 through LSTs. And like we’ve wrote previously, it’s time for us to make the next step. Sanctum 2.0.

As part of Sanctum 2.0, it makes sense for us to finally bring Socean home as part of Sanctum’s suite of products. We’re relaunching Socean Stake under the Sanctum umbrella as Sanctum’s Stake.

We’re doing something extremely unique with our stake pool. It’s never been done before and it will power a new infinite-LST future. Sanctum Stake will exclusively delegate to LSTs. How? What? Stay tuned for more information.

If you currently stake with Socean, you won’t need to do anything. We’ll let you know once the new website is up. Once the new Sanctum site is live, we’ll start winding down the Socean website and all socials. Thank you all for your support, and we’re excited to welcome you to Sanctum!

Say hello to the new staking meta!

FAQ

Q) I am a Socean staker. What does that mean for me? Do I need to do anything?

A) Nope, you won’t need to do anything. You’ll be able to stake or unstake via the current Socean website and continue to earn top class staking yields on your scnSOL. We will inform you once the new Sanctum site is live, and also before the old Socean interface is wound down.

Q) What is Sanctum Stake Pool’s delegation strategy?

A) Keep up to date with Sanctum’s socials. More details coming out.

Q) I’m an OG supporter of Socean!

A) We haven’t forgotten about you 🙂

Q) I hold a Pathfinder, what about it?

A) The OG Pathfinders were custom designed NFTs for our original supporters. There are no current plans for the Pathfinders for Sanctum. The Pathfinders brand is being developed separately. The official Twitter account can be found here.