I will show you how to Invest in Quarry Finance on Solana and find risk Free (Almost) for stSOL-SOL Farm at 14% APY for those who want to HODL Solana for long time and also qualify for possible Airdrops on Quarry Finance in the future. Quarry is a simple, fun interface for Solana users to discover, farm, and eventually launch their own DeFi liquidity mines. They have multi-reward yield farming where they partner with Saber and Marinade teams to set up some dual yield farms around mSOL. Quarry was built with the intention of helping more Solana projects launch on-chain liquidity mining programs. Goal is to help liquidity mining programs were composable and enforceable on-chain. Currently Quarry supports Saber Protocol Token, Marinade Tokens, Cash Cow tokens, Saber Frax Rewards (Frax Share on Wormhole), Pole Aggregator Governance Token, Sentre Protocol Tokens, Sabe Luna Rewards (Luna Wormhole), Soluna Governance Tokens, Saber Lido Rewards (Lido DAO Token on Wormhole), Port Finance Token, and Jungle Defi tokens. I clicked on Saber Lido Rewards pools. I wanted to invest in Saber Lido Rewards where stSol-SOL Liquidity Provider tokens that is currently offering 13.47% APY.
Buying Bitcoin Without Fees from Strike App
Secondly, In order to participate, you need to buy Crypto from fiat. I show you one of two ways Buying Bitcoin Without Fees is using the Strike App.
You can buy Bitcoin from Strike App without any fees. You heard it right-- there is no fees to buy Bitcoin with fiat (in my case USD) in Strike app. I will provide links below to Strike App signup if you do not have one. Strike App you need to do KYC (Know-Your-Customer) with government issued ID. There is no miner fees to send Bitcoin on Strike App due it's use of Bitcoin Lightning Network. There is a weekly limit of $2000 to purchase bitcoins. I love it because it allows me to invest my weekly Starbucks spending few hundred dollars into Crypto Defi platform for higher yields. I will provide a strike signup link below if you do not have one.
Buying Bitcoin Without Fees from Robinhood Wallet
I show you second way to Buy Bitcoin Without Fees is using the Robinhood wallet.
As of recently, you can buy Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), DOGEcoin (DOGE), Litecoin (LTC), Bitcoin SV(BSV), Ethereum Classic (ETC) from Robinhood without fees directly from linked bank account and transfer out to external crypto wallet. You need to get a Robinhood crypto wallet. This is different from regular Robinhood stock investing account. I will provide a robinhood sign up link if you do not have Robinhood crypto wallet account. Great advantage of Robinhood crypto wallet is there is no fees to buy any of those cryptocurrencies. Also withdrawal fees are none existent compare to Coinbase and Binance exchanges. I hate withdrawal fees from Coinbase and Binance. It eats up to my purchases when I am little investor trying to put my weekly coffee money into a long term savings.
How to Buy Solana
I will show you how to Buy Solana from one of the cheapest exchange with trading fees and withdrawal fees.
Send your Bitcoins you bought without fees from Strike App or Robinhood Wallet to Exchange like CoinEx. I will provide links below. Trade Bitcoin into Solana. Withdraw your Solana into a Phantom Web Wallet. Phantom has a Chrome extension. It is very easy to use. It is just as good as Metamask for EVM chains. Withdrawal fee from CoinEx is 0.00002 Sol. Which is faction of penny.
Converting SOL in to STSOL (Liquid Staking) on LIDO Finance
Before you can deposit funds, you need stSol in your wallet. I will show you how to get stSOL tokens from Lido finance. Go to Lido.finance. In LIDO finance, you can do liquid staking of Ethereum at 3.9% APR, Luna at 6.5% APR, Kusama at 23% APR, Polygon at 8.7% APR besides Solana at 6.3% APR. Connect your Solana wallet of choice. I chose Phantom wallet for ease of use. I connect it with password. I deposit my 0.21 Sol. It created 0.2031 stSol at a conversion rate of 1.0336 SOL per 1 stSol. That 0.2031 stSol automatically appears on Phantom wallet.
Finding Liquidity Pools on Quarry Finance
Next, I will show you how to find liquidity pools on quarry finance. There are multiple pools on Quarry Finance. Think of it as Beefy Finance (EVM yield aggregator ) of Solana. It is act like a yield aggregator for Solana chain (None EVM chain) without yield auto compounding. I go to the Pool of Saber Lido Rewards (Lido DAO Token wormhole). Click View Quarries. There is 2 pools under that pool categories. I pick Saber stSOL-SOL LP. Currently it is offering 13.57% APY for depositing equal 50-50 stSOL-SOL liquidity.
Depositing stSOL-SOL liquidity on Saber Finance
I will show how to deposit tokens into stSOL-SOL liquidity on Saber Finance. Click on the link next to Saber stSOL-SOL LP. This will take you directly to Saber Finance. This is where the LP token is generated. In the stSOL-SOL Solana Pool current TVL is over $935000. It generates daily fees of 0.48% APY with raughly fees of $374 that is shared by Liquidity provider in this pool. Click maximum stSOL you want to deposit. In my case is 0.2031 stSOL. In the SOL section select same amount 0.2031 SOL. If you do not want to manually convert SOL using LIDO finance you can deposit one sided SOL and Saber Finance will automatically convert 50% into stSOL. Which kind of nice to do. Click Deposit. Click Confirm Deposit. After you have created unstaked stSOL-SOL LP tokens, you need to headed back to Quarry Finance Yield aggregator page. You can click on Farm SBR link on the page to go directly there or click on previously open Quarry stSOL-SOL LP pool page.
Staking stSOL-SOL LP tokens on Quarry Finance
Next, I will show you how to stake stSOL-SOL LP tokens on Quarry Finance. When you go to the Liquidity Mining section of the page, you will see your balance. In my case I see 0.4053 stSOL-SOL LP tokens worth about $42.18 as of shooting this video. I click Deposit. Click Execute All where it LP tokens will be deposited into primary and next stake to replica rewarders. Actually, I wish Quarry Finance will auto harvest my LIDO tokens and restake it automatically like Beefy Finance. It does not do that. After your LP tokens are deposited you can see I am earning 0.00476632 LDO tokens per day on top of 0.000008 SBR per day for the $41 I deposited. LDO token as of shooting this video is $3 and Saber SBR is $0.02.
Risks vs Rewards
Finally, here is the Risks vs Rewards of this investment. According to Defi Llama, Quarry protocol is not audit. There is much higher risk of smart contract exploits by a hacker on Saber Finance as well as Quarry Finance. As of shooting this video Saber Finance as well as Quarry Finance does not have any safety score in defisafety.com. Which mean they are very new and can be easily exploited by hackers. I am willing to throw away money I can afford to lose under $100 for chance to get in on the possible future airdrop on Quarry Finance. In summary, I am getting 14% APY from Quarry Finance. I also getting 6% APY from liquid Solana staking from LIDO finance. Combine, I am getting close to 20% APY atleast 50% of my investment and other 50% of my investment is growing at 14% APY.
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