Stacverse: StacSol | Game changer | Lets Discuss
๐จ๐ก
@STACCoverflow interesting idea:
๐ฆ A money market where LSTs like jitoSOL, mSOL, and StacSOL are priced at NAV instead of volatile market prices, meaning users could potentially borrow and loop positions without traditional price-liquidation risk.
Instead of worrying about ๐ depegs or flash-crash wicks, the main risk becomes ๐ carry: if borrow costs exceed staking yield, positions automatically deleverage.
Why this is bullish for
$StacSOL ๐ข๐
๐ More demand for
#StacSOL as collateral
๐ Higher TVL and stickier capital
โก More capital-efficient leveraged staking strategies
๐ฐ Greater utility beyond earning staking rewards
Add in ๐ permissionless listings and ๐ก๏ธ isolated risk silos, and this becomes a completely different lending modelโwhere interest rates price risk, not governance-set liquidation parameters.
โ ๏ธ Not audited
โ ๏ธ Not live yet
But if it works, this could be a huge unlock for Solana LSTs and a major growth catalyst for StacSOL
@stacverse @NotRealCashper #Staccana $Staccana StacSol.app
hear me out, I think I invetned a cool thing for stacsol eco:
a solana money market where you genuinely cannot be price-liquidated.
not "low liq risk." cannot. structurally. and i want to know if that's useful or cursed before i sink more weekends in.
the thing nobody prices right: every LST is just reserve รท supply. jitoSOL, mSOL, INF, whatever. and solana has no slashing โ so in SOL terms that number only goes UP. an LST basically cannot lose value against SOL barring a bug.
so why does every lending market price your jitoSOL at its market price โ the thing that wicks down in a depeg โ instead of its NAV, the thing that only climbs?
maxtier prices collateral at the stake pool's own exchange rate. monotonic. no AMM spot to flash-loan. debt is SOL, collateral is SOL-denominated โ the whole position is delta-neutral. SOL can rip to $500 or bleed to $50, doesn't matter โ you can't be liquidated on price.
the only liquidation vector left is carry: if SOL borrow rate climbs above your LST's staking yield. that's the entire risk surface. and it auto-deleverages before it eats you.
which means the LTV cap stops being a risk knob and becomes a leverage dial:
97% โ ~33x. 99% โ 100x.
i looped forked jitoSOL a dozen times and watched it compound 1x โ 9.4x, guard holding every hop. ran it to saturation: 30x, 90% of the theoretical 33x ceiling, LTV pinned at 96.98% across 80 straight borrows. never crossed.
now the part that'll make risk people twitch:
no risk parameters. none. no LTV tiers voted by a DAO. no risk committee. no listing governance. every silo runs at max LTV โ the floating rate prices the risk, isolation contains it. any reserve-backed token lists itself permissionlessly, and if it's garbage, only the people who opted into that silo eat it. bad debt is socialized to that silo's own suppliers. never cross-silo. ever.
every incumbent is defined by its risk-parameter governance. this is the opposite of that.
candor, because i'm not selling you anything:
โ the bleed is real. if SOL borrow > LST yield, you lose money. it's the only way you lose, the protocol deleverages you, but it's real.
โ single-validator LSTs are sketchier. that's what isolation is FOR. don't ape a meme-validator silo and cry to me.
โ liquidation is carry-only, settled by unstaking through the pool at NAV โ not an AMM dump โ so the liquidator bonus is ~2% not 5-10%. that's why 97% is safe.
โ if solana ever ships slashing, "only goes up" gets a small downside. that's what the buffer is for.
โ it is NOT audited and NOT live. it's built and verified on a surfpool mainnet-fork against the real jitoSOL pool โ 8 test suites, partial bad-debt liquidation, oracle-manipulation, all green (the tests already caught 2 real bugs). that's it. do not put money in something a guy tweeted.
so โ feeler:
is this genuinely useful or genuinely cursed?
would you loop jitoSOL/mSOL at 20-30x if the only liquidation vector is carry, not price?
what's the first thing you'd try to break?
what am i missing that makes this obviously dumb?
roast it. i'd rather find out now.