SOL deposits now live: stake directly with Sanctum’s first LSTs!

We first announced the first batch of Sanctum’s new LSTs - BONK’s bonkSOL, Cogent’s cgntSOL, Drift’s dSOL, Juicy Stake’s jucySOL, Laine’s laineSOL, Lode’s pwrSOL, Solana Compass’s compassSOL and SuperFast’s superSOL - and opened deposit of stake accounts into these LSTs on our website last week. We’ve received a lot of love and requests for direct SOL deposits into these LSTs, and we’ve been trying to expedite this process. This week, the Year of the Dragon has come upon us and with that, we’re happy to announce we’ve officially opened direct staking with Sanctum’s first batch of validator LSTs!

Stake your SOL with a Validator LST via the swap tab

Our goal is to making staking as easy as a swap. All you need to do is go to app.sanctum.so. It’ll automatically direct you to the “Swap” tab. Connect your wallet, and you’ll be able to directly deposit your SOL into the validator LST of your choice.

Voila! You have your LST of your choice! Sanctum charges a one-time 0.1% deposit fee. This serves as a measure to ensure that there are no potential arbs at the start and end of each epoch.

For existing stakers: deposit your stake account

If you’ve already staked with a validator (or want to try this route), you can use the “Stake Accounts” tab on app.sanctum.so/stake-accounts to deposit your active stake account into an LST. We charge 0% deposit fees for this process.

There is one key thing to note here:

1. You require an active stake account.

This means that if you just delegated your stake to a validator within the current epoch, your stake account is considered to be activating. You have to wait till the next epoch before your stake account is considered active stake. You can use the SoceanBot Telegram Bot to track epoch timings.

Instant unstaking

It is important to note that staking is a long-term endeavour and gains should be tracked over a year rather than days. Liquid staking removes the “locked” part of staking, and allows you to protect your SOL being eroded from inflation. That being said, if you need to urgently unstake your SOL from your LST for some unforeseen reason, there are two ways you can do it.

CLI

If you know how to operate via the Solana CLI, you can withdraw your stake account and deactivate your stake account from your LST. We do not recommend this unless you know exactly what you are doing. This also requires you to wait an epoch.

Swap

This is the recommended route for most users. You can directly swap your LST back for SOL.

This swap is currently powered by the Sanctum router. You’ll have to pay a small 0.01% swap fee charged by the router. There will be a Jupiter integration soon that will provide even better prices. And of course, Infinity.

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