Solana Stake Markets

A single-sided limit order book system for instantly selling native yielding Solana stake accounts at a dictated market premium.

SSM is not currently live on Mainnet - and is awaiting a preliminary audit submission.

The Solana-Stake-Markets program is a public source offering within the Reflect-Program-Library and was purpose-built to extensively push forward the design space for DeFi from the Validator up. It takes into consideration the ability to ensure the security of the network while moving large tranches of stake into liquidity from bids. See below.

What SSM Solves

Ensuring Network Security while enabling Velocity on Stake Accounts

problem: PoS networks often require large percentages of their total supply to be in part locked up with validators to ensure the security of the consensus mechanism and other essential factors. This often limits the potential volume and velocity of the native token, especially at scale.

solution: SSM allows the sale of any size of stake into liquid tokens while ensuring this stake says activated and thus securing the network. it does this in a non-custodial format, by operating in a single-sided manner.

A Permissionless On-Chain OTC Desk for Active Stake problem: OTC is typically permissioned for stake, and typically happens in off-chain environments. this means potentially new large-scale validators do not have an easily accesible venue to instantly purchase live delegations.

solution: SSM is permissionless, allowing anyone to place bids on staked solana with any defined premium they like i.e. 0.99 SOL per staked SOL. netting an instant 1% arbitrage + any yield owed. SSM also maintains that the stake is active, and thus is perfect for validators or stake pools.

How SSM Works

At its core, SSM is extremely simple. It is an unordered one-sided order book based entirely on the bid side. It requires no cranks and no on-chain ordering, as bid fulfillment is permissionless by sellers, and stake is autonomously transferred without the need for any form of escrow on the sellers' side.

Step 1 -> Bidder places Bid in the program defining Amount and Rate

Step 2 -> Seller provides the bid account when selling stake_account into this bid.

Step 3 -> Stake_Account is transferred to Bidder, Amount x Rate of SOL sold into is transferred to Seller.

Review the Solana-Stake-Market Repository:

reflect-program-library/ssm/solana-stake-market at main · palindrome-eng/reflect-program-libraryGitHub

RFL Location for SSM Code