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FEB 8, 2024

A Breakdown of Saros Finance

by ChefGunny.sol

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 - The DEX (AMM)

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.’
SarosSwap - The DEX
SarosSwap - The DEX

SarosFarm

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.
SarosFarm
SarosFarm

SarosStake

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.

Saros V2 - The Super App, $SAROS and SarosID.

Saros Super App

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:
  • A comprehensive non-custodial wallet.
  • A SolanaPay integration, providing seamless and efficient transactions.
  • An NFT Hub with the innovative capacity for NFT minting.
  • SarosID: Adding a layer of personalized identification to the user experience.
  • A DEX Aggregator.
The Super App has been put forward to streamline the UX for De-Fi users on Solana, providing a wide suite of products and services in one space.
Solana Super App
Solana Super App

$SAROS Token

The $SAROS token will tie all existing and future Saros products together. Through the token, the team aims to incentivise the use of their suite of De-Fi products, facilitate the building of new and innovative solutions, reward active community members and create a local economy that ensures the projects longevity.
The $SAROS token launch is scheduled for Q1 of this year (2024), alongside the release of the Super App, of which I have already detailed above.
$SAROS Token
$SAROS Token

Closing Thoughts

The team at SAROS clearly know the Solana ecosystem well, and have a deep understanding of the importance of both community, and ease of use. This is evident when you look at the products that have been built to date, and with the features due to be released alongside V2.
If this is your first time hearing about SAROS, I encourage you to check it out for yourself, read the docs / DYOR, and if it intrigues you, test out some of the fantastic products that this protocol has to offer.
P.S. With $SAROS around the corner, it wouldn’t be the worst idea to act quickly.
That’s all I have to share regarding SAROS for the time being, these are exciting times ahead! Thanks for reading! If you enjoyed this, drop a follow on X, Telegram and subscribe to my access pool to stay in the loop.
As always, stay safe and bullish,
ChefGunny.
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