tl;dr
- The Socean Stake Pool will be moved under the Sanctum umbrella
- Socean will now be Sanctum Stake
- Sanctum will use the stake pool to kickstart a multi-LST future
- Existing scnSOL stakers don’t have to do anything: you will continue to earn staking rewards
Hey there, it’s been a while! 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. Over the past year and a half, we’ve been working on Sanctum. Sanctum represents our vision — a vision to make all SOL liquid.
They called our vision impossible. But we needed to do the impossible.
Over the past year, Sanctum has serviced over $195m in cumulative volume, thanks to our Jupiter and Solflare partnerships. The Sanctum Reserve Pool provides deep liquidity for all stake pools, allowing instant unstakes and million-dollar liquidations. Sanctum let new stake pools compete on an equal footing with well-heeled incumbents, and kickstarted DeFi Summer 2.0 because lending protocols could list new stake pools without fear.
And 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 of immediate effect 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? Stay tuned for more information by following Sanctum’s Twitter and joining the Telegram chat.
If you currently stake with Socean, you won’t need to do anything. The new Sanctum Stake website should be live very soon, and we’ll let you know once it’s live. The old Socean interface will be wound down, together with the old Socean socials, but we’ll also let you know in advance.
From today, please join all the Sanctum socials for updates.
Telegram
Docs
Twitter
Website
Blog
Thank you all for your support, and we’re excited to welcome you to Sanctum!
Say hello to the infinite-LST future!
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.
