Saros Finance is a Solana based De-Fi protocol that boasts three distinct products; SarosSwap, SarosFarm, and SarosStake, with SarosSwap at the heart of the ecosystem. Through these products, Saros aims to attract and retain investors, builders, and other crypto-natives to both Solana and their suite of protocols.
Any technical jargon is simplified here:
SarosSwap allows users to exchange SPL tokens with ease. It is an AMM, that uses the ‘constant product formula’ (x*y=k), which is common to other DEX’s, such as Uniswap and SushiSwap on ETH.
Due to users familiarity with this type of DEX, most retail users and investors should find this UI extremely easy to use, especially given how clean it looks.
The team behind SarosSwap believe that ‘the focus on UX/UI, and gamification will set SarosSwap apart from the competition.’
One issue that new projects face upon launch is the scarceness of liquidity for their tokens / assets, SarosFarm aims to help reduce this issue. Through this De-Fi product, not only are users able to provide liquidity into various token-pairs ranging from SOL/USD to newly listed ones, they can also stake their LP tokens further increasing yield.
In this way, incentivised pools will assist developing projects by gradually increasing liquidity for their tokens and assets. In staking LP tokens, you are supporting Saros as well as other Solana based exchanges such as Serum, Raydium and Orca. This is helping to grow the Solana pie.
It is important that you familiarise yourself with the possible risks of providing liquidity, before attempting to do so. For e.g. Impermanent Loss.
For those less advanced, or with a lower risk appetite, SarosStake is for you. Users can earn tokens passively, simply by depositing into the respective pool, and kicking their feet up whilst the rewards automatically compound.
This product avoids the potential issue of impermanent loss, due to the fact that only one token is being provided, rather than a pair. Due to Solana’s brilliant low fees, the staking experience on the chain, and on Saros itself is much more pleasant than other EVM chains.
With the vision of an ever increasingly connected Solana ecosystem, Saros is introducing their dAPP, compiling all current protocols with many new advanced features, to create a one-stop-shop for all things De-FI. Some of the features include: