SolanaSail Partners with PenguinFinance for Protocol Owned Liquidity Treasure
PenguinFinance Bond Family announces its joint venture with SolanaSail. This will be a new step with the new partner to earn Protocol Owned Liquidity through bonding and staking!
Penguin is one of the leading Liquidity-as-a-Service platforms that provides a one-stop shop for treasury management functions like swaps, staking, and bonds. Instead of renting liquidity, a protocol can use the bonding service to get it. By sticking with a protocol through a downturn, protocol-owned liquidity can help it survive in the long run. Token vesting, rather than encouraging short-term participation, will allow protocols to align their incentives and communities with their long-term objectives.
PenguinFinance will work with SolanaSail on a treasury asset management solution that is better suited to DAO. Bonding/staking is a fantastic token emission mechanism for ensuring long-term continuous liquidity and a healthy token price. There are also plans to offer more DAOs in the future.
The SAIL token from SolanaSail is the first community SPL token created on Solana that has been distributed fully at random. Instead of executing an airdrop where a portion of the supply is given, and the rest is kept for various purposes, the whole supply of SAIL tokens has been made available to the public for free.
The gSAIL ecosystem token, available across the four platforms, Governance, Vaults, and NFTs Marketplace, is the SolanaSail ecosystem token. In addition to bonding, Penguin will have access to the gSAIL staking tool. Staking gSAIL and receiving gSAIL benefits will be available to the community.
SolanaSail first presented its proposal to the SolanaSail DAO community, providing complete details about the service. The idea was approved by the community, and they generously decided that when bonding/staking becomes live, NFT holders will receive airdrops.
DAO then posted a proposal on pngfi to initialize the pools, which have already received the required number of votes to pass. Thank you very much for your excitement, sailors!
Now the step is to explore parameter settings for bonding/staking with DAO members before launching a proposal. As soon as the proposal is accepted, bonding/staking will be formally initiated on https://app.png.fi/bond!
Following that, bonders can buy gSAIL at a discount by purchasing gSAIL/PAI LP tokens, and the gSAIL will be staked automatically to earn juice APY.
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