Today, I want to share an amazing trick to earn SOL (Solana) with minimal effort—by leveraging the Sui blockchain.
Here's the deal:
On Sui, there’s a lending and borrowing protocol called SuiLend (similar to Solend on Solana). It pays you to borrow SOL. How? While borrowing SOL costs an interest of around 9%, you earn rewards in SUI tokens at a rate of nearly 15%! That leaves you with a net gain of ~5%.
Now, imagine borrowing SOL and sending it to the Solana blockchain via Portalbridge.com. Once there, you can put your borrowed SOL to work on platforms like Raydium.io. By staking SOL in a liquidity pool (like the SOL/sSOL pool), you can earn an additional 45% APR.
I've summarized this strategy in the video below - activate subtitles with automatic translation to your language if you don't speak French:
Here’s a quick step-by-step guide for anyone interested:
1. Set Up Wallets
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Phantom Wallet (for Solana):
- Download the Phantom Wallet extension from Phantom.app.
- Install it, create a wallet, and save your seed phrase securely.
- Fund it with SOL from an exchange like Binance.
-
Sui Wallet (for Sui):
- Visit Sui Wallet and install the extension.
- Create a wallet, save your seed phrase, and fund it with SUI.
2. Transfer SUI from Binance to Sui Wallet
- Go to Binance and select Withdraw SUI.
- Enter your Sui wallet address and ensure you’re on the correct network.
- Confirm the transaction.
3. Swap SUI for USDC on Cetus
- Go to Cetus.
- Connect your Sui Wallet.
- Swap SUI for USDC directly on the platform.
4. Lend SUI and USDC on SuiLend
- Visit the SuiLend platform.
- Connect your wallet.
- Deposit SUI or USDC as collateral.
- Borrow SOL using your collateral, and watch my video to earn rewards!
Final Tips:
- Always double-check addresses before transferring funds.
- Beware of scams in comments or fake support messages—don’t share your wallet info!
- This strategy involves risk due to smart contract vulnerabilities, market fluctuations, and platform reliability. Always do your own research (DYOR).
Want to see all of this in action? Watch my step-by-step video for detailed instructions. Click here to watch!
Let me know your thoughts or questions in the comments. Happy earning!