wifSOL is a Solana-based SOL Liquid Staking Token (LST) that automatically swaps SOL rewards for WIF each epoch, equivalent to approximately every two days, then distributes the WIF directly to wifSOL holder wallets. 

In this sense, it can be thought of DCA’ing with staking yield, while allowing users to remain exposed to SOL price action. 

In the Solana network, a stake account is created when a wallet stakes natively to a validator. This stake account is the “stake receipt” proving that their funds are staked to a specific validator. In Solana, LSTs merely act as wrappers around stake accounts, which determine features such as commission, MEV kickback, fees etc. 

Due to the staking account feature, and the fact that wifSOL rewards are sold and distributed at the beginning of each new epoch, wifSOL essentially remains pegged 1-1 with SOL, whilst allowing users to accumulate WIF over time. 

dogwifSOL is simply the protocol that creates the wifSOL token and infrastructure.

wifSOL is safe in many respects. wifSOL uses a version of the SPL stake pool program. Multiple security firms have audited the stake pool program a total of nine times to ensure total safety of funds. So far it has controlled $1B+ of value over more than two years, with no exploits found. 

Of course, just because a contract has not been exploited in the past does not mean it will never ever be exploited in the future, but it is clear that the stake pool program is one of the safest programs in the world.

The staked account feature means that your SOL is deposited in a non-custodial manner. 

Note: to prevent against ATA rent fee attacks, wifSOL holders are required to hold >0.01 WIF in their account to be eligible to receive WIF airdrops.

The code that underpins the wifSOL architecture was written and deployed by the trusted team at Sanctum. By way of further increasing trust, the founder, @0xbenharvey, has been doxed.

Yes, wifSOL leverages Sanctum’s infinity pool and Router. 

Given Solana-based LSTs are just wrappers around staked accounts, they can be unwrapped and rewrapped to different LSTs with deeper liquidity at any point. For example, wifSOL can be unwrapped and rewrapped as jitoSOL, and traded freely on its deep liquidity.

The wifSOL APY is calculated as only the SOL APY on the validators it deploys to. The wifSOL APY does not account for the price action in the underlying WIF distributed to holders.

wifSOL deploys its SOL to the Jupiter validator, maintained by the trusted Jupiter team. The Jupiter validator was selected because: (i) it is maintained by a trusted and reputable team, (ii) it has 0% commission, so we can maximise rewards for our holders, (iii) it kicks back 100% of MEV revenue, so we can maximise rewards for our holders.

The dogwifSOL team takes a 2.5% commission on SOL rewards. This covers gas fees for swapping and distributing the WIF to wifSOL holders. The remaining 97.5% of SOL rewards land straight in the wallets of wifSOL holders as WIF. 

Note, we deploy to the Jupiter validator, with 0% commission and 100% MEV kickback, which maximises your rewards prior to our 2.5% commission cut.