When you stake your SOL with Socean, you receive scnSOL in return, which represents your staked position. This scnSOL can be used across various DeFi protocols on Solana, allowing you to earn additional yield while your original SOL stake continues to generate rewards. Essentially, you maintain liquidity over your staked assets.

To start staking SOL with Socean:

1. Connect your Solana wallet (e.g., Phantom, Solflare) to the Socean platform.
2. Deposit the amount of SOL you wish to stake.
3. Receive scnSOL in return, which represents your staked SOL.
4. Use your scnSOL in DeFi protocols or simply hold it to earn staking rewards.

Liquidity: Unlike traditional staking, Socean allows you to retain liquidity by providing you with scnSOL, which can be traded, borrowed, or used in other DeFi activities.

Earn Double Rewards: You earn staking rewards on your SOL while simultaneously using scnSOL to earn additional yield in other DeFi protocols.

Decentralized: Socean is a non-custodial platform, meaning you retain control of your assets throughout the staking process.

scnSOL is a liquid staking token that represents your staked SOL with Socean. As you earn staking rewards, the value of scnSOL increases relative to SOL, reflecting your accumulated rewards. You can use scnSOL in various DeFi activities, giving you flexibility and more opportunities to earn yield.

Staking rewards are generated based on the performance of the validators to which Socean delegates SOL. As the network rewards validators for securing the blockchain, those rewards are passed on to you. The value of your scnSOL grows over time, reflecting these accumulated rewards.

Yes, you can unstake your SOL from Socean at any time. However, there are two options:

• Instant Unstake: You can swap your scnSOL back to SOL instantly using liquidity pools, but this might incur a small fee or slippage.
• Delayed Unstake: You can opt to unstake directly from Socean, which takes around 2-3 days, but there are no additional fees associated with this method.

Traditional staking locks up your SOL, meaning you cannot use it for other activities. With Socean’s liquid staking, you receive scnSOL, allowing you to maintain liquidity and participate in DeFi opportunities while still earning staking rewards.

Yes, scnSOL is compatible with various DeFi protocols on Solana. You can use scnSOL to provide liquidity, lend, borrow, or trade, allowing you to earn additional rewards while still benefiting from your SOL staking.

Yes, staking with Socean is generally considered safe. Socean is a decentralized and non-custodial platform, meaning you maintain control over your assets. Additionally, Socean works with a diversified set of high-quality validators to minimize risk. However, always do your own research and be aware of potential risks in DeFi.