# Jet Protocol stSOL Collateral Onboarding

Interested Party Profile
Party submitting application: Lido Finance
Website: https://lido.fi/
Contact: @carvas
Submission Date: 12/07/2022
If endorsed by Jet Community Member, list here:

## Application Profile

1. What is your motivation for submitting this application?
2. What is your association to the proposed asset?
3. What are the key benefits to the Jet Protocol for onboarding the asset?
4. What are the known limitations of the asset?

## Project Profile

**1. Please provide a brief, high-level description of the asset’s native ecosystem (project), including protocol’s type (peer-to-peer/ peer-to-liquidity/ etc.).**
**2. Who are the founding members? What is their current involvement with the project?**
-

**3. Please indicate the ICO date, initial price and valuation of the token and total capital raised (in USD and crypto terms).**
- N/A

**4. How much of the capital raised via the ICO was converted into FIAT (in terms of FIAT currency and amount of tokens)?**
- N/A

**5. What was the way of issuing and distributing the tokens? Were there pre-ICO investors?**
- stSOL is a product and not a governance token for Lido. The people who hold stSOL have either staked SOL via Lido or bought it in the open market.

**6. What is the current token distribution (project team vs. investors vs. public)?**
- stSOL is a product and not a governance token for Lido. The people who hold stSOL have either staked SOL via Lido or bought it in the open market.

**7. Are there any fees generated by the protocol? If yes, please provide details and amounts.**
- Yes. 4% of the validation rewards that stSOL receives goes to Lido DAO's treasury. [Fees | Lido on Solana](https://docs.solana.lido.fi/fees)

**8. Is the protocol audited? By what firms? Please provide link(s) to the audit documentation.**
- The protocol has been audited by Neodyme and Bramah. Audit Documentation: [Security | Lido for Solana](https://docs.solana.lido.fi/security/)

**9. Is the protocol open source? If yes, please provide links to the repository.**
- [Lido on Solana - Github Repo](https://github.com/ChorusOne/solido)

**11. Other relevant project data or comments:**

## Asset Profile

**1. Asset name:**
- Lido Staked Sol (stSol)
**2. Asset type (native/ wrapped):**
- Native
**3. One-sentence description of the asset:**
- stSOL is a liquid staking derivative token that is redeemable for SOL that has been staked with Lido
**4. What’s the purpose of the asset within its native ecosystem?**
- stSOL provides a very user friendly way for people to stake SOL in order to secure the solana blockchain and receive yield. Via stSOL, users remaining liquid on their staked SOL position. Furthermore,
**5. Does the asset have any use outside of its native ecosystem (integrated protocols)?**
**6. Please provide all Smart Contract address. If the project is open source, detail how the Smart Contracts are implemented.**

## Asset Liquidity

**1. What exchange(s) support the asset?**
- stSOL is currently available on 4 top AMMs (Orca, Raydium, Mercurial and Saber) matched against an increasing number of pairs (SOL/USDC/USDT/stETH) as well as on FTX.

**2. Does the asset have liquidity on Serum? What is the liquidity depth (resting orders)?**
-

**3. Please provide 7-day asset trading history (daily aggregated trading volumes for trading pair of asset with USDC).**
-

**4. Which oracles monitor the asset? How many feeds are available?**
**5. How often does the asset drop significantly in price? Please provide a link to the price history.**
**6. For stablecoins only: Has the asset ever lost the peg? If yes, for what reason?**
**7. For algorithmic stablecoins only: Please provide details on the risks associated with the design.**
**8. For wrapped assets only: Which bridges are used? Are they custodial or non-custodial? Are they audited?**
**9. What amount of asset’s liquidity exists in the integrated protocols (if applicable)?**

(note - data taken on 14t/July:)

For more complete data: https://datastudio.google.com/u/0/reporting/b41835bc-fafb-46c8-9ade-b012f28a41b2/page/p_v1ev9r2uvc

**10. List any parties interested in taking part in liquidations for the proposed asset type.**

## Key Mechanics

1. How many active addresses/ users currently hold the asset?
2. Please provide a brief overview of the tokenomics.
3. Is the asset supply expected to increase or decrease over time? Is there a token burn mechanism? Is the project able to mint more tokens in the future?
4. Please explain the staking mechanism (if any).
5. Please explain the slashing mechanism (if any).
6. Are there tokens on vesting schedule? If yes, what is that schedule and related vesture limitations?
7. Are any tokens allocated for specific purposes or issuance schedules (e.g. liquidity mining)?

## Legal Profile

1. Is the project or the asset owned by any incorporated organization?
No, Lido is a DAO.
3. In which jurisdictions was the token issued?
4. Was the token issued as part of regulatory process (e.g. securities offering)?
5. Was the token issued as part of fundraising process?
6. Has the project or the asset obtained any legal opinions on the regulatory standing of the token? If yes, please provide links to the relevant documentation.
7. Has the project or the asset had any legal interactions? If so, describe and provide documentation.

## Links

Link to project’s white paper:
- https://lido.fi/static/Lido:Ethereum-Liquid-Staking.pdf

Link(s) to active communities related to the project:
- [Discord](https://discord.com/invite/lido)
- [Telegram](https://t.me/lidofinance)
- [Twitter](https://twitter.com/lidofinance)
-

Link(s) to project’s documentation portal/ source code for the system(s) that interact with the proposed asset:
- https://docs.lido.fi/
- https://github.com/ChorusOne/solido
- https://github.com/lidofinance

Link(s) to audits - both procedural and Smart Contracts:
- https://github.com/lidofinance/audits

Link(s) to legal opinions:

Link(s) to other legal material:

Other relevant links:

List all relevant Solana addresses here:

Marketing / Campaign Material
If you have additional marketing material, recorded discussions, or collateral onboarding campaign material, link here:
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