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        <title><![CDATA[Stories by BurnSOL on Medium]]></title>
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            <title>Stories by BurnSOL on Medium</title>
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            <title><![CDATA[BurnDAO Launches BurnSOL: A Fiery New LST on Sanctum and Solana]]></title>
            <link>https://medium.com/@burndaos/burndao-launches-burnsol-a-fiery-new-lst-on-sanctum-and-solana-74029b71cc8c?source=rss-ca85455927de------2</link>
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            <dc:creator><![CDATA[BurnSOL]]></dc:creator>
            <pubDate>Thu, 06 Jun 2024 12:26:10 GMT</pubDate>
            <atom:updated>2024-06-06T14:46:23.889Z</atom:updated>
            <content:encoded><![CDATA[<figure><img alt="" src="https://cdn-images-1.medium.com/max/640/1*6NqhRjb227ixRAdDEXtUEQ.jpeg" /></figure><p>BurnSOL leverages its SOL stake pool by staking with the <a href="https://solanabeach.io/validator/he1iusunGwqrNtafDtLdhsUQDFvo13z9sUa36PauBtk"><strong>Helius validator</strong></a>, a decision made based on <a href="https://www.helius.dev/">Helius’s</a> strong reputation and trusted team. One of the key advantages of Helius is its <strong>0% commission</strong>, allowing BurnSOL to maximize the burning of SPL tokens, thereby <strong>increasing their scarcity and value</strong>.</p><p><strong>Safety and security are paramount for BurnSOL</strong>. The LST utilizes a version of the SPL stake pool program, which has undergone rigorous audits by multiple security firms to ensure the safety of all funds involved. Over the past two years, this program has successfully managed over $1 billion in value without any exploits, demonstrating its robustness and reliability.</p><p>Additionally, the staked account feature of BurnSOL ensures that your SOL is deposited in a non-custodial manner, providing an <strong>extra layer of security and peace of mind for users.</strong></p><p>Our LST also takes advantage of the Sanctum infinity router, ensuring seamless trading with high liquidity through <a href="https://jup.ag/swap/SOL-BurnSOL"><strong>Jupiter Exchange</strong>.</a> This integration allows users to trade BurnSOL effortlessly, benefiting from the deep liquidity and efficient trading mechanisms of the Jupiter platform.</p><p>BurnDAO will forge <strong>strategic partnerships within the Solana ecosystem</strong> by collaborating with existing Solana-based projects to buy and burn their tokens. By doing so, more users will be incentivized to stake their SOL to obtain BurnSOL, further increasing the funds available to burn even more tokens in the Solana ecosystem. These partnerships will strengthen the network and create a synergistic effect, <strong>enhancing the overall value and stability of the Solana blockchain</strong>.</p><h3>How BurnDAO Works</h3><p>BurnDAO operates on a community-driven model where holders of the BurnDAO token have the power to decide which tokens will be burned in the next burn campaign. <strong>Each BurnSOL token equates to one vote</strong>, giving holders a direct influence on the DAO’s burning initiatives. <strong>The more BurnSOL tokens you hold, the greater your voting power,</strong> and the <strong>more funds will be allocated to the burn</strong> from the DAO. Additionally, the yield from staked SOL is allocated for buy and burn campaigns, which will be voted on by BurnSOL holders. This democratic process ensures that the community’s interests are at the forefront of all burning activities, fostering greater engagement and commitment among participants.</p><h3>About Sanctum</h3><p>Sanctum’s mission is to build a thriving liquid staking ecosystem on Solana. To achieve this, Sanctum aims to make all SOL staked and all staked SOL liquid. They envision a future where LSTs are truly accessible to everyone — allowing users to issue their LSTs without worrying about liquidity and providing an endless variety of LSTs for investors to choose from. By creating a seamless and liquid staking environment, Sanctum is paving the way for a more inclusive and dynamic Solana ecosystem.<br><a href="https://www.sanctum.so/">https://www.sanctum.so/</a><br><a href="https://twitter.com/sanctumso">https://twitter.com/sanctumso</a></p><p>BurnSOL marks a major advancement for the Solana community and underscores BurnDAO’s commitment to fostering a stronger, more valuable Solana ecosystem.</p><p>To stay updated with the latest news and participate in the BurnSOL ecosystem, join our official <a href="https://t.me/OfficialBurnSOL">Telegram group</a> and follow our <a href="https://x.com/OfficialBurnSol">X (Twitter)</a> account. <br>Engage with the community, contribute to discussions, and help shape the future of BurnSOL and the Solana ecosystem.</p><p><strong>Buy BurnSOL here: <br></strong><a href="http://app.sanctum.so/trade/SOL-burnSOL">http://app.sanctum.so/trade/SOL-burnSOL</a> <br><a href="https://jup.ag/swap/SOL-BurnSOL">https://jup.ag/swap/SOL-BurnSOL</a></p><h4>Links-</h4><p><strong>Website: </strong><a href="https://burnsol.com/">https://burnsol.com/</a><br><strong>Telegram: </strong><a href="https://t.me/OfficialBurnSOL">https://t.me/OfficialBurnSOL</a><br><strong>X (Twitter): </strong><a href="https://x.com/OfficialBurnSol">https://x.com/OfficialBurnSol</a></p><img src="https://medium.com/_/stat?event=post.clientViewed&referrerSource=full_rss&postId=74029b71cc8c" width="1" height="1" alt="">]]></content:encoded>
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