In this post:
- Xandeum liquid staking surpasses $8M with an industry-leading APY of 15%.
- Over 30K SOL is staked through Xandeum’s more than 2.7K wallets on its native Solana validator.
- Stakers benefit from Xandeum’s quadruple rewards, including staking, block, MEV, and XAND token rewards.
Xandeum, the Solana-based storage scaling solution, announced that it had hit a new milestone with a TVL exceeding $8M. The staking platform claimed that its market-leading 15% APY was the driving force attracting over 30K SOL staked through nearly 2.7K wallets on its native Solana validator.
According to Xandeum’s statement, its APY was almost double that of other liquid staking pools like Marinade and Jito. Xandeum said their staking pool enabled Solana users to utilize a liquid staking token with various use cases while staking SOL. It added that the number of wallets was set to increase significantly following the transition to Xandeum’s storage-enabled liquid staking platform.
Xandeum boosts Solana staking yields with a quadruple rewards system
Xandeum revealed that stakers could now enjoy the highest SOL staking yield thanks to its quadruple rewards system. The reward system includes XAND rewards, block rewards, MEV rewards, and staking rewards. Xandeum believes that the rewards were responsible for pushing the annual percentage yield (APY) to over 15%.
The statement further emphasized that while Solana validators usually claimed block and MEV rewards, Xandeum shared with stakers to boost total APY. Xandeum boasted of being the first ever liquid staking protocol to ‘programmatically’ do so.
Bernie Blume, the CEO of Xandeum, said that the high demand for Xandeum’s staking program indicated the level of interest in Solana liquid staking.
“By fairly apportioning MEV and block rewards between stakers and validators, we’ve shown that it’s possible to pioneer an equitable system in which everyone prospers while contributing to the security and decentralization of the Solana ecosystem.”
-Bernie Blume , Xandeum CEO
Xandeum’s statement revealed that XAND rewards available to stakers had been higher than normal during the Xandeum staking pool’s bootstrapping phase. The statement added that this provided additional incentives for Solana users to stake their SOL.
Xandeum’s scalable storage and fair staking unlock new opportunities for Solana dApps
Xandeum acknowledged that the upcoming launch of its scalable storage layer would further boost rewards by sharing fees paid by apps using the solution. The team clarified that the scalable storage layer will be integrated directly into Solana RPC nodes. The platform also believes there will be more rewards with Xandeum’s future-proof staking.
The statement highlighted that Xandeum’s storage solution would allow Solana dApps to scale by accessing exabytes of data. Xandeum said this would support new use cases, such as porting data-rich Web2 apps into Web3. According to Xandeum, its solution was designed to solve the blockchain storage ‘trilemma,’ which includes being scalable, smart contract-native, and supporting random access.
The growth of liquid staking tokens (LSTs) on Solana was hugely attributed to the increased TVL for Xandeum’s liquid staking program, stated Xandeum. It added that the growth of LSTs democratized access to Solana staking and helped to decentralize the network further. The platform also disclosed it was pioneering a fairer staking model by sharing block and MEV rewards with SOL stakers.
Xandeum finally confirmed that it was transferring all pool fees directly into the Xandeum DAO treasury.
