🔥🔥🔥 a super interesting and novel usecase for LSTs!
Losers pay winners staking yields. Earn (potentially) very high% APY if you make a contrarian bet and win
Works for SOL but could work with any asset too as long as a good oracle exists!
In the rounds where you’re not smort, forgo your LST yield and get nothing from the prize pool while still protecting your principal as smortSOL is 1:1 redeemable for SOL.
Think you can outsmort others? Join our waitlist for early access: (5/6)
Winning scenarios:
A: You are the contrarian, being the 0.1% minority who was right. Your equivalent APY for the round = 100/0.1 * native yield (6.8%) = 6800% APY
B: You voted with the 70% majority. You earn 9.71%, 43% higher than native SOL yield.
You smort or wot? (4/6)
1. Buy smortSOL, a 100% commission LST created via
@sanctum_so
, where the LST yield contributes to the weekly prize pool.
2: Play a prediction game, e.g. Predict if SOL price goes Up/Down.
3: Winners earn their share of the prize pool, prorated to their smortSOL holding. (3/6)
The Smort mechanism is a novel intersection between a prediction market, gamefi protocol, leveraging the best of Solana Liquid Staking, powered by
@sanctumso
. Manlets can get in and out of Smort anytime with
@JupiterExchange
.
How does it work? 👇 (2/6)