Index Product Provider Amun Makes Play for Solana With SOLI Token Launch

Amun, a supplier of crypto scale products, launched the solana ecosystem scale token (SOLI), a azygous token that tracks Solana ecosystem projects and provides vulnerability to 5 highly liquid, Solana-centric assets.

• “We built SOLI to supply investors with a elemental and almighty mode to get vulnerability to the rapidly increasing Solana ecosystem,” the caput of tokens, James Wang, said successful an email to CoinDesk.

• Launching connected Raydium – a starring Solana-based automated marketplace shaper (AMM) – SOLI volition supply investors wide vulnerability to the autochthonal applications built connected Solana including Raydium and Serum, supplying 32.45% and 28.97% weightage, respectively.

• Solana’s autochthonal token SOL volition relationship for 33% of SOLI. However, alternatively than utilizing SOL, the SOLI token volition usage Marinade Finance’s liquid staking mSOL token. mSOL is simply a staked mentation of SOL, which offers 6% yearly percent output (APY) successful the signifier of Solana staking rewards, meaning SOLI would connection profits from some output and plus growth.

• The remaining allocation comprises of Solend, an algorithmic, decentralized protocol for lending and borrowing (2.15%); and Tulip Protocol, a output aggregation level (3.43%).

• Amun said successful a prepared connection that the SOLI creation was made based connected mean marketplace capitalization and decentralized speech (DEX) liquidity.

• SOLI volition beryllium rebalanced monthly to fastener successful gains and guarantee constituent tokens are allocated accordingly by marketplace capitalization fertile and liquidity. The scale absorption interest is 1.5% annually, which volition beryllium waived for each token holders until the extremity of 2022.

• SOLI tin beryllium minted, burned and redeemed for an underlying handbasket of tokens successful 1 click connected the Amun Platform, according to the company.

• Solana is intended to connection a faster, much expandable alternate to Ethereum and different furniture 1 blockchains. The past 2 years saw accelerated maturation connected the Solana network, with implicit 500 decentralized applications deployed connected Solana, and prices of SOL rocketing from nether $2 to a highest of astir $260 successful October.