Saros (SAROS): Comprehensive Solana Web3 Package

As the Web3 world continues to expand at an alarming rate, existing projects find themselves with the need to evolve to keep up with the demands of the crypto market. One of these projects is Saros, which started as an application that offers decentralized finance (DeFi) services through the Solana ecosystem.

Q3 of 2021. Following its launch in the quarter, Saros version 1 was made available as a decentralized exchange (DEX). However, in 2024, the project updated its roadmap to V2 to include a number of web3 features, such as a non-custodial wallet with a Solana-powered payment system and NFT hub. Let's see what kind of mark Saros will leave in the fast-paced web3 environment.

• Key Takeaways: Saros V1 is available as a DeFi DApp. However, the project is being upgraded to Saros V2 as an all-encompassing web3 DApp that will include Super App, SarosID without escrow wallet, a digital identity system, NFT hub and DEX aggregator.
• With the launch of the Super App, the project introduced SAROS, the native token of the Saros ecosystem, to encourage participation in the Saros ecosystem.

What is Saros?

Saros is a decentralized application that offers a set of web3 products on the Solana blockchain Saros V1 includes SarosSwap, an AMM liquidity protocol; SarosFarm, a yield farmer; It was launched as a DeFi application consisting of SarosStake, a staking platform, and Saros SnapShot, a transaction competition monitoring tool.

The project is currently rolling out Saros V2. The Super App includes more web3 features, including a non-custodial wallet with Solana Pay integration, SarosID, a digital identity system, DEX aggregator, and NFT hub.

Since its launch in 2021, Saros has raised over $3.75 million in private funding and attracted more than 283 projects related to the Solana ecosystem. His team believes that the project should evolve from being just a DeFi DApp to a web3 package that meets the dynamic needs of crypto enthusiasts. With the launch of Saros V2, the project also introduced the SAROS token, which will be used for various public services in the Saros ecosystem.

Saros Finance (V1)

Saros ecosystem includes the following DeFi products.

Saros Swap

SarosSwap is a Solana-based liquidity protocol that uses automated market makers (AMMs) to help SPL holders swap their tokens efficiently. Its user-centric platform aims to make it easier to create and manage liquidity for DeFi users. The price slippage rate is set at the market rate of 0.5% but may be set higher in volatile market conditions or low liquidity pool scenarios. This allows successful transactions to occur faster.

SarosFarm

SarosFarm allows you to participate in yield farming, becoming a liquidity provider by staking your LP tokens in liquidity pools and sharing the fees generated by the pool. With SarosFarm, you will not only earn passive income efficiently and safely, but also contribute to the vitality of the Solana ecosystem.

SarosStake

Staking is a critical arm of DeFi. You can automatically compound your returns by staking with a single asset on SarosStake. Even better, you are protected from temporary loss, which is a major concern when staking. Since staking is done through Solana, you benefit from the ecosystem's secure architecture and low transaction costs.

Saros SnapShot

Saros SnapShot is a monitoring tool that you can use to monitor your trading positions when you participate in trading contests and promotions. This feature aims to promote transparency and comprehensive user interaction, enabling better decision-making when onboarding.

Saros V2

Saros announced that the roadmap has been updated to version 2 in early 2024. This version includes a wide range of web3 products. This update coincides with the launch of the SAROS token, designed to respond to increasing functionality in its ecosystem.

The rollout of additional products will occur in phases. In the first phase, Saros Super Application was put into use. Products like NFT Hub became available later. Saros Super App and SarosID are currently working. The Saros V2 product range includes the following.

Saros Super App

Saros V2's flagship product, Super App, functions as an all-inclusive, non-custodial payment app for global transactions. It is a high-level application designed to interact with the entire Solana ecosystem. You can use it to make payments, exchange digital assets (including SAROS token), and interact with stablecoins efficiently.

Additionally, this comprehensive application will integrate SolanaPay, which provides fast, cheap and secure payments. The app also has advanced functions such as social login and NFC hybrid wallet.

SarosID

SarosID with DePIN technology functions as a secure and private passport in the Saros ecosystem and serves as a digital identity system. It will enable people who interact and use the Super App to interact with various features in the Saros ecosystem in a secure and private way.

NFT Center

Thanks to the Saros NFT hub, you will be able to easily mine NFTs and gain access to an NFT market through AI-powered mechanics.

DEX Aggregator

DEX Aggregator in Saros V2 will provide a centralized environment for managing decentralized exchanges that interact efficiently with the Solana ecosystem.

What is SAROS Token?

In line with the vision of greater functionality in Saros V2, the project launched the SAROS token, which will be the native service token of the entire ecosystem. SAROS is used to encourage participation, reward the community that engages with the platform, and contribute to the vitality of the Saros community. Owning SAROS provides a way to embrace Solana's innovation and leverage its architecture.

The total supply of SAROS is 10 billion tokens. 1.5 billion of these tokens were allocated to private investors in 2021 in a private sale of $3.75 million. SAROS token distribution is as follows:

• Ecosystem growth — 2 billion (20%) with a one-year rocky period occurring linearly over three years
• Community development — 1 billion (10%) with a one-year rocky period that occurs linearly over three years
• Private investors — 1.5 billion (15%) with a one-year rocky period, unlocking linearly in two years
• Airdrops — 500 million (5%)
• Providing liquidity — 1 billion (10%)
• Strategic reserve — 2 billion (20%) with a one-year rocky period, unlocking linearly over three years
• Core participants — 2 billion (20%) with a one-year rocky period, occurring linearly over three years

While finishing

Saros V1 is already a notable DeFi name on the Solana network. With the vision of expanding the full-fledged, unified Solana-based product range through Saros V2, users now have a suite of web3 functionalities that will enable them to have a one-stop shop for all their needs, in line with the Solana Foundation's high-level vision.

Saros' V2 integration with Solana Pay will provide users with a secure platform to make transactions, while SarosID will protect their digital identities in this way.

Whether you are looking for decentralized finance activities such as yield farming, staking and token swaps, or want to explore the world of web3 with DEXs and NFTs, Saros will open the door for you.