Saros Review
Saros
saros.xyz
If your website is on the scam list and you think that you are not a scammer, contact us. After you provide us with all the proof that you are in Crypto World with good intentions, we will delist you. Usually, you get in this category because you are hiding your team, you have a bad reputation(you are tricking, deceiving, scamming people), and you haven't got a written project whitepaper or is a shitty one....
Their Official site text:
SAROS FINANCE
A DeFi Super-Network Built on Solana.
What is Saros Finance?
Saros Finance is a Solana-based Unified Suite of DeFi Products with three fundamental building blocks: SarosSwap (AMM), SarosFarm, and SarosStake, in which SarosSwap is the core of the entire ecosystem.
We have built Saros Finance with multiple protocols to create a super-network attracting builders and users to the Solana Ecosystem.
An Overview of Saros Finance Products
SarosSwap
SarosSwap is a decentralized automated liquidity protocol built on Solana that allows users to exchange SPL tokens. SarosSwap will maximize price discovery, drawing retail investors to Solana.
SarosFarm
SarosFarm is an aggregation platform for different incentivized pools to assist projects rapidly and gradually increase their liquidity. SarosFarm and Saros will entice and engage liquidity providers, resulting in a large inflow of funds while simplifying and accelerating liquidity bootstrapping and encouraging new projects to be built on Solana.
SarosStake
SarosStake is dedicated to increasing user staking income by single-asset staking to maximize your yields with no risk of impermanent loss. Like SarosFarm, SarosStake is also expected to attract liquidity providers, expedite liquidity bootstrapping, and promote the development of new Solana projects.
Moving forward
Obviously, Saros Finance will not limit to only 3 building blocks but will continue to branch into various protocols to satisfy the demands of future users.
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SarosSwap
A decentralized automated liquidity protocol built on Solana, allowing users to exchange SPL tokens.
Why AMMs?
We believe AMM has the upper hand over CLOB-Based DEX regarding creating and managing liquidity easier users' habits, liquidity creation & management, and hype generation.
An established habitual product
Over the past two years, DeFi users have been educated on how to exchange assets using Uniswap, PancakeSwap, and a variety of other AMMs instead of order book DEXs. Most retail investors have become familiar with AMMs, so it would be difficult to change their habits.
A tool for simplified liquidity creations & management
AMMs simplify liquidity creation for both holders and builders.
Using AMMs will make creating and managing liquidity easier for builders because the popularly used x*y=k AMM design optimizes passive liquidity provision. Builders, therefore, could focus on their top priority which is product development.
Moreover, AMMs transform holders into passive market makers, which also increases their “skin in the game” with the project.
A hype-generation machine allowing price discovery at ease
In the crypto industry generally and DeFi specifically, retail investors are vital to pushing the ecosystem forward via assets investing and speculating. To attract these players, we need to showcase the investment potential with a price discovery machine.
AMMs are designed to enable the assets to reach their price discovery stage as quickly as feasible, attracting speculators and degens from other blockchains to Solana.
How is SarosSwap different from other AMMs?
Technically, SarosSwap uses the same x*y=k formula as other AMMs on the market, namely Uniswap and PancakeSwap. The focus on UX/UI and Gamification will set SarosSwap apart from the competition.
How To Swap on SarosSwap
A step-by-step guide for all users.
1. Set up Coin98 Solana Wallet
At the moment, users can connect to Saros Finance via Coin98.
How to download
Mobile App
For iOS users:
For Android users:
Chrome Extension
Coin98 Extension:
Create a Solana Wallet (SOL & SPL) on Coin98
Because SarosSwap is an AMM on Solana, you must own a Solana Wallet to use the platform.
After Coin98 is downloaded or updated, you can follow the instructions below to create a Solana Wallet (SOL & SPL) or restore Solana wallets from other platforms to Coin98:
Gas fee and SPL standard
It should be noted that Saros Finance is on the Solana chain, which means that you can only swap tokens in SPL standard. SarosSwap uses SOL (SPL standard) as transaction fees. Therefore, you should prepare SOL before any swaps on Saros.
--> Everything is ready, let’s start.
2. How to swap
Step 1: Access . Choose Connect Wallet at the top right corner. Coin98 will automatically connect to the corresponding Solana Wallet.
Step 2: You need to enter some information to conduct the transaction:
Select the token you want to trade from the list.
This example will show the SOL/C98 pair.
Note:
You can add favorite tokens by clicking the white heart icon in front of each token (if the heart turns into purple, you have successfully added the favorite token to your list, which is displayed under the search bar).
Add favorite tokens: Click the white heart icon until it turns into purple.
2. To remove favorite tokens:
Select the token to be removed from the favorites list -> Click the X button.
Or, click to the purple heart icon until it turns into white.
Remove favorite tokens: Click the X button.
Step 3: Adjust the amount you want to trade. Choose Swap to complete.
Note: You can adjust slippage tolerance level by clicking the gear symbol in the upper right corner of the screen. In this case, the default Slippage is set at 0.5%.
Step 4: The system will calculate a small fee on the preview screen. Click Confirm to complete the transaction.
Note: You need to carefully read the information displayed before trading such as the amount that you expect to receive, the estimated gas fee, or price impact (the difference between the market price and the estimated price provided by SarosSwap).
Step 5: Wait a few minutes for the system to process. After processing successfully, the system will display a notification.
Note: You can view all information about the transaction via Solscan.io by clicking "View Transaction".
SarosFarm
Supply liquidity to earn tokens.
One of the most common problems that Builders encounter is growing the assets’ liquidity after the project's launch. On Solana, project owners must currently build incentives by using liquidity mining programs, which fragment the liquidity providers as they have to constantly hunt for projects with such programs.
To solve this problem, we introduce SarosFarm, an aggregation platform for different incentivized pools to assist projects rapidly and gradually increase their liquidity.
What is SarosFarm?
At SarosFarm, users are able to earn rewards by staking your Liquidity Provider (LP) tokens. Not only popular token pairs are made available on the platform, such as SOL-USDC, but freshly launched projects are also supported. This is one of Saros’ solutions for liquidity issues on Solana.
By staking LP tokens, you are supporting Saros as well as other exchanges like Serum DEX, Raydium, Orca,... by providing liquidity.
Notice: Yield farming can give high APYs rewards, but it comes with a risk of Impermanent Loss. It’s not as scary as it sounds, but it is worth learning about the concept before you get started. Check out this great article aboutfrom Binance Academy to learn more.
Enjoy earnings while supporting the whole Solana ecosystem by adding liquidity to your favorite token pairs.
Outstanding qualities of SarosFarm
Low cost
Being based on Solana affords Saros several advantages of low transaction fees enabling a wider and higher-touch design space for yield farming pools. The average transaction fee is less than a penny.
Ultimate user experience
Users can enjoy the friendly and beautiful interface from the ground with the ultra-fast transaction with low latency, at scale.
Composability
High performance, with the ability to process at scale, without losing security or decentralization.
Bullet-proof security
At Saros, we take security seriously and endeavor to make our smart contracts as secure as possible. The smart contract has been audited by.
SarosStake
Single-asset staking to maximize your yields with no risk of impermanent loss.
What is SarosStake?
SarosStake is the simplest way to earn free tokens on Saros Finance. All you have to do is stake one and earn free tokens while you sleep. With SarosStake, you can earn passive income on your token investment in a much more simple way.
We will also offer special pools that let you stake a variety of tokens. It’s really that easy!
What is the difference between SarosStake and farming/auto-compounding?
SarosStake is basically simpler than farming with SarosFarm, since you only need to stake one token to start earning.
Yield-farming provides attractive APYs at the cost of being subject to impermanent loss. For example, if you're farming with PRT-SOL, you might lose out on potential gains if SOL goes up and PRT stays still --> High risk, high reward.
Instead, you can simply stake your ONE token to earn yields with no impermanent loss (IL) and maximize your profits when the token's prices go up. Rewards compound automatically, and you don't need to do anything besides clicking the stake button.
Outstanding qualities of SarosStake
No impermanent loss
One of the most amazing things about SarosStake is that impermanent loss is no longer a problem. Stake tokens to earn tokens!
Low-cost
The average transaction fee on Solana is extremely low, which makes the staking process on Saros much more pleasant compared to other AMMs built on Ethereum or BNB Chain.
Bullet-proof security
At Saros, we take security seriously and endeavor to make our smart contracts as secure as possible.