Synatra Staked SOLPrice

(YSOL)

ySOL is a synthetic token received when depositing SOL into the Synatra pool. It represents a user's share of the pool’s assets and accrued interest. Unlike traditional liquid staking protocols that secure the network via validators, ySOL generates yield through NFT collateralized lending. You can obtain ySOL by staking directly through the official dApp or by purchasing it on LBank and other supported decentralized exchanges. Since ySOL is a yield-bearing token, its backing value increases over time relative to SOL, meaning you own the rights to the underlying assets plus any interest earned.

Yield is generated through automated strategies that provide liquidity on various NFT lending protocols. The system offers loans to NFT holders, and the interest paid by these borrowers fuels the yield for ySOL. Additionally, the protocol may distribute "Cloak Boosted Rewards," which represent extra earnings from reduced fees passed to holders. The displayed performance metrics track the pool's historical activity from inception and do not serve as a guarantee for future returns.

The smart contracts have been audited by security firms like Offside Labs to ensure technical integrity. However, because ySOL utilizes lending strategies rather than validator-based staking, risks differ from traditional staking. A significant drop in NFT collateral value or bad loans could theoretically impact the pool's value. Furthermore, if the token appears as "unverified" in digital asset wallets, this is usually due to standard metadata requirements for newer tokens on the blockchain and does not inherently indicate a security issue.

The protocol often implements capacity limits to ensure that capital is deployed efficiently across NFT lending strategies without diluting the returns for existing holders. If the pool is full, new staking deposits are temporarily restricted. In such instances, users are encouraged to wait for capacity to open or to acquire ySOL directly on exchange platforms like LBank or other decentralized markets to gain exposure to the yield-bearing asset.

Users can unstake their assets through the official protocol dApp to receive the underlying assets. However, many users find it faster to swap ySOL back to SOL using a decentralized exchange or a trading platform like LBank. This provides immediate liquidity and allows users to exit their positions without waiting for protocol-specific withdrawal processes.

The protocol has not announced a native governance token airdrop. However, it employs a strategy where it "harvests" external airdrops. When the protocol receives tokens from other platforms due to its lending activity, those tokens are converted back into SOL and added to the pool. This process benefits all holders by increasing the backing price of ySOL, effectively distributing the value of those external rewards to the community.