In the eyes of many, NFTs in their current form serve little to no function outside of their artistic value. One of the main critiques from members inside and outside of the NFT community is the gimmicky nature of most projects. With this in mind, certain projects have been pivoting from a 100% art-focused angle to one that attempts to merge the worlds of DeFi and NFTs. One such example is DeGods. Here, we'll take a quick look as to how exactly DeGods is trying to add utility to their project through the $DUST token and NFT staking.

 is a 10,000 PFP NFT collection on Solana, whose art takes inspiration from both the crypto world and Greek mythology; it also happens to be 

In addition to their unique art, DeGods has managed to create arguably the largest and most lively NFT community on Solana.

The idea behind DeGods staking is relatively simple. You lock your NFT and earn 10 $DUST per day.

Yes, however the $DUST token has unique use-cases beyond that of a simple protocol token in that it will be the only means by which users will be able to purchase NFTs being auctioned by the DeDAO. This infographic below (created by the DeGods team) outlines the game-theoretical idea that supports the existence and long term potential of $DUST and staking DeGods.

2) Next, you'll need to create a staking account.

3) Here, you'll be able to see your wallet with all your DeGods, in addition to how much $DUST you have earned.

It's as easy as that! Now you are benefitting from both holding a blue chip NFT and earning passive $DUST.

You can follow the same process for staking your DeadGods as well (at: 

Starshine

Best of both Worlds: How to stake your DeGod

With the rapid growth of DeFi in the past 18 months, the need for hedges against the volatility of the market has increased. Stablecoins can in theory provide that hedge, but as has been made clear in the past few months with the 

, they too come with their fair share of risks.

UXD Protocol (founded in 2020 as Soteria), is a decentralized stablecoin protocol built on the Solana blockchain. It is represented by two tokens:

 is the $1 pegged stablecoin native to the protocol.

is the governance token of the protocol, which can be used to vote in the UXD DAO.

UXD uses a stability mechanism that is quite different to that of other stablecoins. When you deposit your crypto on the platform to mint UXD, these funds are put into a smart contract that creates a delta-neutral position on a Solana DEX (i.e. Mango Markets).

if a user deposits SOL into the contract, the UXD protocol then takes that SOL and opens a delta-neutral position on the DEX. The protocol will be long spot SOL, and short future SOL to create a hedged position whose value will always be stable in dollar terms

The flow of funds can be neatly visualized with this image (taken from the 

Because of the different means by which the UXD stablecoin is backed (as compared to more traditional stablecoins), there is more robustness to the protocol.

Take for example a more traditional stablecoin, which is backed 1:1 (or even in some cases overcollateralized) by any bundle of crypto assets. In moments of large price fluctuations, the underlying collateral isn't guaranteed to hold it's value, even if it is overcollateralized. As soon as the peg is lost, a downward spiral of FUD and panic sets in and re-establishing the peg can be quite a challenge.

Other stablecoins rely on algorithmic stability; the risks here are 

Let's take a look at some of the other benefits:

These are just some of the benefits of the protocol, however as time goes on we will see the community conjure up new utility in places not previously anticipated.

As mentioned above, the UXP token will be the native governance token for the UXD Protocol. In addition to the standard utility of voting, UXP will also serve as a last resort for the protocol insurance fund, which if ever depleted will trigger new UXP tokens to be minted and auctioned off to restock the fund.

In addition to this, UXP can be staked for certain lockup periods to earn APRs depending on the duration of the stake. (Explore more at: 

Minting UXD and participating in the protocol is very simple, first go to: 

 and connect your wallet. You'll then immediately see the option to swap your SOL for UXD.

What you choose to do with your UXD is up to you. Whether you hold it as a hedge against the bear market, or put it in an LP, the protocol offers a wide array of opportunities for users that have varying levels of risk tolerance.

It's important to know that with all that was mentioned above, there are still risks associated to UXD and any other protocol in DeFi; it is crucial that you 

Two of the main risks associated with UXD are that of the Solana network itself going down, as well as exploits or bugs in the smart contract. Naturally, both of these prospective issues are going to be worked on extensively in the coming months by both the Solana and UXD teams, but it is important to be aware of the fact that an issue like this could in theory arise.

That's it! I hoped you enjoyed reading and learned something. I will be posting more content on vertical in the coming weeks, so stay tuned!

A Trilemma Solving Stablecoin: An overview of UXD Protocol

Today we will be taking a look at Socean, a liquid staking protocol on Solana, and discuss how users can help decentralize the Solana network while also participating in DeFi.

The philosophy behind Socean and other liquid staking protocols is very simple; democratize the staking process of Solana, while not sacrificing other use cases for the SOL token.

Traditionally, when staking SOL with a validator, users can only activate and deactivate the stake every epoch, and transferring stake from one validator to another can be troublesome. In addition, unless you are delegating to a small group of high performing validators, there is a chance that the validator you are staking with will underperform. 

On top of this, locking the SOL that you are staking presents a high potential opportunity cost through the fact that your SOL is illiquid, and can't participate in DeFi.

With Socean, you can deposit your SOL which will be exchanged with scnSOL. This scnSOL is always redeemable for the SOL that you initially put in (as well as any additional rewards earned).

Socean takes the SOL tokens its users stake with them and delegates its stake dynamically, minimizing loss of rewards for the staker.

2) After connecting your wallet, you'll see the option to deposit SOL on the right side of the screen.

3) After receiving your scnSOL, you can choose from one of the many farming strategies that are listed on the same staking page. Protocols such as Atrix, Orca, and Saber all offer some form of farms for scnSOL.

And that's it! You can sleep in peace knowing that your staked SOL is helping secure the network, while also earning APY with your scnSOL!

Liquid Staking on Solana: An Intro to Socean

If you've ever tried to bridge tokens from one chain to another, chances are you've run into some issues. This guide will take a look at 

how to recover tokens lost in the Wormhole Portal

The portal is an app built on top of Wormhole. When bridging via the Portal the token being swapped is locked in a smart contract, and a Portal wrapped token is minted on

the destination chain. These wrapped tokens can then be swapped for native tokens on the destination chains.

Sometimes tokens can be momentarily lost between chains; naturally, users will panic. 

 but have yet to be claimed by the user. Transactions can also fail or not confirm and the bridge will look to be unsuccessful.

In both cases, tokens can be recovered using this page: 

What should I do after a transaction fails?

1) Open your wallet and copy your address

2) Go to the correct explorer and paste the address ( 

3) Copy your last tx ID (this will be the most recent signature).

On this page, you can also enter the transfer type (token or NFT), the source chain, and tx ID of the attempted bridge. Recovering your transfer is 

For the more technically advanced, there are advanced options that can also aid in recovering funds.