solv Auto Update Mode

🌱 No more SSH login required for Solana/solv version update 🌱

Introducing the new solv Auto Update Mode that takes care of Solana/solv version updates seamlessly. Now, you can update the Solana/solv version without the need for SSH login to the server.

Key Features:

Automated Updates: solv Auto Update Mode will automatically update the Solana/solv version for you, ensuring you are always running the latest version without manual intervention.
Monitoring: solv Auto Update Mode will monitor the health status of your validator and balance, sending notifications to Discord.
Automated Reward Harvesting: This mode will harvest your rewards to your authority account right before the epoch ends, optimizing your yield.
Automated Staking: After harvesting, rewards will be converted from SOL to LST(Liquid Staking Token - elSOL) and sent to your desired account.
Enhanced Security: By keeping the balance of SOL in your validator node low and converting rewards to LST, this strategy mitigates the risk of large-scale SOL withdrawals, ensuring high yield maintenance.

What is solv Auto Update Mode?

solv Auto Update Mode is a feature designed to automate the maintenance of your Solana validator by regularly checking and updating the Solana/solv status and version.

How it works

solv epochTimer: This function will be set as a cron job to automatically monitor the health status of your validator and perform updates as needed.
Automatic Restarts: If necessary, solv epochTimer will restart the validator to ensure optimal performance.

solv epochTimer Monitors:

epochTimer will monitor the following aspects of your validator:

Check Validator Account Balance

Send a notification if the balance is less than 0.5 SOL.

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Check Validator Health Status

Send a notification if the validator is not voting or is delinquent.

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Check Solana/solv Version Update

Send a notification if the Solana/solv version is not up-to-date.
Update the Solana/solv version automatically.
Restart validator if it is required.
Send a notification after the Solana/solv version update.

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Auto Harvest (Mainnet Only)

Withdraw the rewards from vote account to the authority account.
Calculate the balance needed for the next epoch.
Transfer the balance from the validator account to the authority account.
Convert SOL to LST(Liquid Staking Token) and send it to the harvest account.

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By implementing solv Auto Update Mode, you can maintain high security, ensure optimal performance, and enjoy the convenience of automated updates and reward management.

How to use solv Auto Update Mode?

Run the following command:

bash
$ solv mev
? Do you want to enable solv Auto Update Mode?(You can change it again) (y/N)
? Do you want to enable AUTO UPDATE? (Recommended) (y/N)
? Do you want to enable AUTO RESTART? (Recommended) (y/N)
※ Please turn off if you are using no-downtime migration.
? Enter your Discord Webhook URL (https://discord.com/api/webhooks/1234)

Enable solv Auto Update Mode.
Enable AUTO UPDATE.
Enable AUTO RESTART.

※ Please turn off if you are using no-downtime migration. ※ No-downtime migration requires spare server and manual restart.

Enter your Discord Webhook URL.

※ You can receive notifications about the Solana/solv version update.

Enter RPC URL (Mainnet Only)
Enter Harvest Account (Mainnet Only)

※ Please DO NOT keep harvest account in the validator node.

How to disable solv Auto Update Mode?

Run the following command:

bash
$ solv mev
? Do you want to enable solv Auto Update Mode?(You can change it again) (y/N) n
✅ Cron Job successfully removed.

What is elSOL?

elSOL

elSOL is a tokenized representation (LST: Liquid Staking Token) of a staking account based on a high-quality validator pool managed by the solv development team. This pool is composed of multiple experienced and high-quality validators, ensuring high validator scores and stability by performing software updates with no downtime. These validators operate with a user fee of 0%, providing an efficient and cost-effective staking solution.

elSOL - SOLscan: https://solscan.io/token/ELSoL1owwMWQ9foMsutweCsMKbTPVBD9pFqxQGidTaMC

elSOL utilizes the official Solana Stake Pool program, increasing the value of the underlying staking accounts after each epoch, which in turn increases the amount of SOL each elSOL represents.

Solana Stake Pool Program: https://spl.solana.com/stake-pool

Why elSOL?

The main advantage of elSOL is its composability. Tokenized staking accounts can be used by any program that operates on tokens. This allows elSOL to integrate with other Solana DeFi protocols like Jupiter, providing various financial services.

Jupiter: https://jup.ag/swap/SOL-ELSoL1owwMWQ9foMsutweCsMKbTPVBD9pFqxQGidTaMC

elSOL is also listed in liquidity pools on Orca, where you can stake SOL into elSOL and supply it to liquidity pools to maximize your rewards.

Orca elSOL Liquidity Pool (LP): https://www.orca.so/pools?tokens=ELSoL1owwMWQ9foMsutweCsMKbTPVBD9pFqxQGidTaMC

By holding elSOL, you can retain an asset that increases in value relative to SOL while using almost any Solana program. This opens up new opportunities to leverage staked assets.

Benefits of Holding elSOL

Ensured Immediate Liquidity: With elSOL, you can ensure immediate liquidity without waiting for the end of an epoch. For example, if you need 5 SOL to purchase an NFT, you can instantly swap elSOL for SOL, while the remaining elSOL continues to earn rewards.
Automatic MEV Reward Collection and Compounding: elSOL automatically collects MEV rewards and compounds them, increasing its value relative to SOL. This is more efficient than manually collecting and reinvesting MEV rewards.

Currently, elSOL can be staked easily with just one command using the solv CLI. An elSOL application will soon be released, allowing staking via UI.

※ This article is not intended for investment advice. The information contained in this article is based on the situation at the time of writing. Please check for the most current information. Always NFA/DYOR.