Apricot Finance x Socean: A Guide to Doing More with your scnSOL

• scnSOL is now listed on Apricot Finance!
• 65K b180SOCN (our governance token that has not been released yet — users will be able to claim once they are released) and 125k APT (Apricot’s governance token) has been allocated to reward scnSOL deposits for 1 month
• Start earning rewards by depositing scnSOL on Apricot Finance!

We’re incredibly pleased to announce that our liquid staking token, scnSOL, is now listed on Apricot Finance! On top of earning staking rewards, stakers of Socean can now borrow using scnSOL as collateral, accruing interest at the same time!

What’s Apricot Finance?

Apricot Finance is a lending protocol. You can lend (by depositing your assets) and gain interest on your deposits, and use your assets as collateral for borrowing.

Apricot Finance is one of the biggest lending protocols on Solana, with a TVL of over 144M. We’re really excited to partner with them to list scnSOL and provide Socean stakers another opportunity to utilise scnSOL!

How to use scnSOL with Apricot

Go to https://app.apricot.one/. The page will look like this! Connect your wallet.

Scroll down and find scnSOL.

7.36% APR (consisting of both bSOCN and APT) is what you’ll get for depositing scnSOL as collateral!

Click on “Deposit”. A pop up window will appear.

Adjust how much scnSOL you want to deposit. In the above diagram, I chose to deposit 100% of my scnSOL

After you’ve deposited, scroll up. In the dashboard, you can see how much scnSOL you have deposited.

Under the “Rewards” tab, you can claim your rewards every week! For b180 SOCN, you’ll be able to claim it after SOCN launch. These SOCN tokens will be linearly vested over 180 days. That is to say, you’ll be able to unlock your bSOCN over 180 days to SOCN on Socean Streams! To learn more about Socean Streams, please check out this article, as well as this video.

Discord AMA

We’ll also be hosting a Discord AMA with Apricot Finance on Tuesday, March 15th 2022, 9am SGT! Come drop any questions you have in our Discord — see you then!

Contact Us

🌊 | Visit us at socean.fi

💬 | Join our Discord community discord.gg/socean

🐦 | Follow us on Twitter @twitter.com/soceanfinance

📢 | Follow our Telegram Announcements Channel: https://t.me/soceanfi

✍️ | Our Medium: https://soceanfinance.medium.com/

📺 | Watch our Videos: https://www.youtube.com/watch?v=z7KpN_Q56ck

🤝 | Help us build a better future: https://forms.gle/Td82dkBXD8UF1tyW9