[New LST Proposal] jlpSOL

[MikeAF]

Simple idea. Convert SOL staking rewards into Jupiter’s JLP token.

JLP is one of the strongest tokens in existence. This token would allow users keep the upside of SOL along w the APY from JLP’s trading fees.

The why is in the chart.

[whalekrill]

This is an interesting idea, and there is SOL in JLP. However, SOL is not the only token in JLP (So, they are kind of 2 different things)

[whalekrill]

Ah, I see (my bad). FP and Alkine were talking about jlpSOL in discord defi channel

[MikeAF]

Yeah. I brought it up in there. I missed the announcement about proposals

[MikeAF]

Yep. That’s the point. Sol, btc, eth, usdc, usdt. The fees are always the great equalizer even in downturns & sideways you can get some upside

[fairysquid]

stables pad you on the downs too, but you are out performed by LSTs on the up. so you’re saying make an LST that uses the SOL rewards to pay out JLP vs bonk or vs sol etc. jupiter already has jupSOL so would jupiter run the jlpSOL validator or sanctum?

[MikeAF]

Yeah. Basically just using the wifSOL but it’s coverting staking rewards to JLP.

I would imagine whatever validator makes sense.

[Halfa]

Maybe can rope in this discussion into dcaSOL:

[New LST Proposal] dcaSOL

Well. Fp beat me to it i was trying to put dcaSOL into words that made sense to everyone other than me. I think both have uses. DcaSOL - offers a highly configurable option for everyone. The more configurable the better. Its a heavy lift I imagine for the dev team. XxxSOL - is still valuable as it offers projects a visible asset associated with their token. It gives teams a new option to use vs launching a token. They can simply use the LST as their governance & split rewards w hol…

[MikeAF]

This could easily fall into the dcaSOL discussion as it was the same discussion in the discord that prompted the proposals.

For JLP it might make sense to stand on it’s own because it’s a highly desirable asset and could even be a good faith gesture towards the Jup team. Just as a thought.

[Aro]

what would jlpSOL do?
any reason why it should exist apart from being another thing to park your SOL on?
For good gesture towards the JUP team we already have jupSOL which currently is the most used validator on chain and has actual use cases. Is there any reason to create jlpSOL?

[MikeAF]

to be able to easily frictionlessly dca JLP with staking rewards. Same reason we have WIFSOL and soon UPTSOL.

[Azrangar]

It’s a good idea. This offers both SOL and JLP yield. I’m wondering if the yield can be magnified by tips and priority-fees

[MikeAF]

I think this one has potential to be pretty big and integrated into other DeFi options.

[Alkine]

let me know what you think

[New LST Proposal] dcaSOL

dcaSOL vs tokenSOL dcaSOL arguments: easier to get protocols to support one LST vs many (larger TVL and liquidity) can frame it as a new product (new on-chain program) vs “just another LST” customizability easier to set up Infinity support could require a small amount of CLOUD to create your DCA rule OR turn the fee switch on and create another revenue stream tokenSOL arguments: straightforward and self-explanatory less smart contract/ownership (depending on the program architecture) risk

[Bengshark]

yup I think both of them serve 2 different target market and its okay to develop both

[3lixbt]

I would definitely hold this!

[butagorira]

That’s a great suggestion.

[MikeAF]

Its so obvious. Inevitable