Jito Staked SOL price

Consider the following architecture of a perpetual onchain BTC accumulation machine. Stablecoin lending vaults are straightforward: deposit USDC, lend it out, and collect a modest yield. Vanilla. And as such these systems lack permanence — once the principal leaves, the yield stream vanishes. If there’s no money to lend, there’s no interest to collect. Proof of Stake gives natural yield in the form of inflation, in the form of token emissions. It’s the market maker of the Ethereum Foundation or the Solana Foundation that’s charged with the responsibility of providing liquidity to these emissions. One can therefore hold a stake SOL, and perpetually sell the emissions into USDC, where the foundation serves as your exit liquidity. But technically you can sell the emissions into anything - any money of your choice - say, what do you think about the hardest money in human history - Bitcoin? So suppose we design a machine, that allows the user to deposit USDC. So suppose, we take that USDC and lend it out on Kamino. The interest paid on that USDC は, a portion of it is swapped into Jitosol. You then take the jitosol emissions a la the Technocapitalist Machine, and sell them into BTC, then you’d have a USDC denominated BTC vault. The great thing about this vault, is that even if all the depositors left, the accumulated Jitosol, which is not ordinarily a claimable asset by the depositors, would continue to bear yield. You can even add a floodgate mechanism that allows the owner of the vault to sell the BTC, maybe even the Jitosol, back into USDC, result in a massive yield increase. To put it more clearly, let’s just call this the Ouroboros Mechanism: USDC Yield → JitoSOL A portion (e.g. 90%) of lending yield is swapped into JitoSOL. This slowly converts stable yield into a growing, staked SOL base. JitoSOL Yield → BTC + USDC JitoSOL generates its own staking yield (~6%). That yield is siphoned: the majority (e.g. 90%) into BTC, the remainder back into USDC for stability. Result: A Perpetual Converter Even if the USDC principal is withdrawn, the SOL base remains staked. That SOL continues to generate BTC indefinitely. Over time, the vault evolves from a “stablecoin yield vault” into a SOL → BTC perpetual converter. Does this vault produce a higher yield in dollar terms than just lending out your USDC? Well, possibly, but not necessarily. It chiefly depends on the price action of the BTC (and the SOL in the intermediate step, if you ever sell the SOL), and whether the BTC is timely sold back - at the top - into dollars. Otherwise, this is just a bitcoin accumulation machine. If the Sol yield is not sold into bitcoin but directly into dollars, then it chiefly depends on whether the Sol yield persists and the price level of Sol. What are some characteristics of this mechanism? Unlike vanilla stablecoin vaults, the system doesn’t collapse when deposits exit — accumulated SOL keeps spinning off yield. It is very durable and perpetual - as long as the SOL yield liquidity continues to be maintained by the Foundation Market Maker - for we are dumping onto the Foundation. The very thought of it suggests this is unsustainable - but the unsustainability itself seems to suggest unsustainability of the PoS system itself! Scary thought. But anyway - characteristics of the Ouroboros Mechanism: Convex Upside: If SOL appreciates, the base grows in dollar terms, and so does the BTC siphon. The manual floodgate mechanism is very important - timing matters - so this is an automated machine, it is one whose profitability is run best by people with trading sense. But obviously, you can also run a cronjob that automatically sells the BTC accumulated back into USDC. Depends on your crypto philosophy and crypto politics, really. The point is, its profitability is highly path-dependent. This is not really a vault, but a fund - a mechanical fund. If SOL underperforms, BTC inflows will remain small. The design is implicitly bullish on SOL’s long-term survival. But you can still build even further on top of this. The Ouroboros Mechanism creates perpetual crypto-native yield for a stablecoin. This opens up the possibility for a fractional reserve stablecoin.

Okx Spot (USDT-15m) Top 3 Gainers: $BIO (Bio Protocol) : ↑1.2% $KMNO (Kamino Finance) : ↑0.86% $SWEAT (SWEAT) : ↑0.82% Top 3 Losers: $CATI (Catizen) : ↓-1.13% $JITOSOL (Jito Staked SOL) : ↓-0.7% $DUCK (DuckChain) : ↓-0.64% ------------------------------- #Okx #Crypto #AltcoinSeason

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