Solblaze Custom Liquid Staking (CLS)

Brief Description

Solblaze Custom Liquid Staking (CLS) offers a flexible and powerful way to stake your SOL, allowing you to choose specific validators while maintaining liquidity through bSOL tokens. This advanced staking method combines the benefits of liquid staking with the ability to support your preferred validators, opening up a world of DeFi possibilities.

Staking Process

Understanding SolBaze and bSOL

To grasp the concept of custom Liquid Staking with ElagabalX, it's essential to familiarize yourself with SolBaze and their bSOL token.

SolBlaze developed the technology behind Custom Liquid Staking (CLS). This feature allows users to stake their SOL with specific validators while maintaining liquidity.

SolBlaze provides two options:

1. Automatic Staking: Users can deposit SOL and receive bSOL in exchange. The SOL is then distributed across multiple validators within the SolBlaze pool. This option is suitable for users who prefer to delegate their stake without selecting a specific validator.

2. Custom Liquid Staking (CLS): Users can stake SOL through the SolBlaze pool and choose a specific validator for their stake (here comes ElagabalX). This option offers users more control over their stake allocation.

Custom Liquid Staking with ElagabalX

ElagabalX offers a CLS feature based on the technology of SolBaze. It allows you to directly stake your SOL to specific validators of your choice, while still retaining the liquidity of your tokens.

Here's how it works 👇

1. Choose Your Validators: You can decide which validators you want to support.
2. 1:1 Staking: ElagabalX maintains a 1:1 relationship between your staked SOL and the equivalent amount of liquid staked SOL (bSOL) in your wallet. This means that every SOL you stake is mirrored by an equal amount of bSOL you can use in DeFi applications.
3. Automatic Adjustment: If your bSOL balance drops below the minimum threshold for your selected validators, your stake to those validators will be reduced proportionally. This ensures that your liquid bSOL always reflects your staked SOL.

Key Features and Advantages

• Choose specific validators to support

  • Ability to support a specific validator (ElagabalX) while maintaining liquidity

  • Diversification possibility by distributing stake among several validators

• Wide integration with Solana DeFi ecosystem

  • Access to an extensive DeFi ecosystem on Solana through bSOL

• Earn rewards

  • Earn BLZE tokens as additional rewards

  • Potentially high APY through optimization and additional rewards

• 1.3x multiplier in ElagabalX loyalty program

  • This boosts your rewards in the loyalty program

• Maintain liquidity with bSOL tokens

Impact on Loyalty Program

By participating in Custom Liquid Staking with ElagabalX through SolBlaze, you can potentially earn rewards from multiple sources:

1. Staking rewards reflected in the increasing value of bSOL

2. ElagabalX loyalty program benefits with a 1.3x multiplier

3. BlazeRewards in the form of BLZE tokens

This combination offers a comprehensive approach to maximizing your returns while supporting your chosen validator.

Additional Information

BlazeRewards:

• BLZE tokens are periodically airdropped to your wallet every few weeks

• Rewards are calculated based on your SolBlaze Score, which measures your unique contributions to the SolBlaze ecosystem

• Your SolBlaze Score is updated every few hours and can be increased by:

  • Staking SOL with BlazeStake

  • Using bSOL in DeFi applications

  • Referring other users to BlazeStake (10% of your referrals' scores will be added to your score)

Exchange rates:

• The bSOL to SOL ratio typically increases over time, reflecting accumulated staking rewards

• When unstaking, you'll exchange your bSOL back to SOL at the current rate

• This means when you unstake, you'll likely receive more SOL than you initially staked, minus any applicable fees

DeFi opportunities:

• bSOL can be used in various DeFi protocols on Solana, potentially allowing for additional yield generation

• Explore liquidity provision, lending, and other DeFi strategies with your bSOL

DeFi | BlazeStake

Risks and responsibilities:

• Always ensure you understand the risks associated with staking and DeFi activities

• Be aware of smart contract risks and market volatility

• Keep yourself informed about any changes or updates to the Solblaze platform

Remember, when accessing and using these platforms, you agree to their terms and conditions. Always ensure you understand the risks and responsibilities associated with staking and DeFi activities.

This expanded version maintains all the original content while providing a consistent structure across all three staking methods. It offers detailed information for users at all levels of experience, from beginners to advanced DeFi participants.