Solana Synthetics V1 — Vaults & LaaS

Solana Synthetics launched in August 2021 with its initial product, Solana Synthetics Vaults, a structured finance protocol built on Solana. These vaults allowed users to choose between enhanced returns or downside protection while providing liquidity to decentralized exchanges on the Solana blockchain.

Later that year, Liquidity-as-a-Service (LaaS) was introduced, helping token issuers bootstrap liquidity on decentralized exchanges. The LaaS program paired stablecoin issuers with DAOs issuing governance tokens to create highly-liquid AMM trading pairs. Over ten prominent protocols participated in this program, including notable names in the DeFi ecosystem.

Between Community Vaults and LaaS Vaults, Solana Synthetics facilitated over $210 million in total liquidity provided (TLP).

As DeFi yields compressed in 2022, the Solana Synthetics team decided to sunset its Vaults and LaaS offerings (collectively referred to as "Solana Synthetics V1") to focus on next-generation protocols and synthetic asset offerings. The transition led to the development of Solana Synthetics V2, which expanded into synthetic asset products and innovative decentralized finance solutions.

For users who have yet to withdraw funds from the legacy V1 platform, the original Solana Synthetics V1 website remains accessible.