Solana: How To Buy And Stake InvictusDAO IN Token

This post will guide you on how to buy the IN token (InvictusDao) on Raydium.

InvictusDAO sits on the Solana network. Before starting, you should have a Solana wallet (I personally use Phantom wallet).

FTX.com -> Buy some SOL (for transaction fee purpose. 0.1 sol is sufficient). Transfer both SOL and USDC via SPL network to your Solana wallet -> Buy IN from Raydium -> Stake IN

1. On ramp your USD to FTX.com. Buy some SOL (for transaction fee purpose. 0.1 Sol is sufficient.)

2. Withdraw both SOL and USDC via Solana SPL network to your Solana wallet (in my example, I will be using Phantom wallet)

3. Go to Raydium to buy IN tokens with your USDC. You will need some SOL in the wallet as well for transaction fees.

4. Once wallet is connected, you can go ahead and swap your USDC for IN token. Remember to have so Sol in your wallet for transaction fees.

5. Once you have swapped your IN token, go to InvictusDao, to stake your IN token.

Your IN token are now staked.

Why did I invest in Invictus Dao?

Invictus Dao is not exactly an OHM fork. What this means is, the team cannot just duplicate the OHM codes and make it their own, because Invictus Dao sits on the Solana network, which uses Rust Programming Language. OHM uses Solidity.

The team had to rewrite everything from scratch, it follows the OHM concepts. To me, this sounds like a lot of work to do, if they are planning to rug. In addition, the team has decided not to open source the code until they have got a good share of the market. You won’t see any other Invictus Dao copycats in Solana network, unless they are writing their own version.

Lastly, I liked that the rebase is done on every block, instead of the 8 hours that we see on the other OHM forks. Compounding working overtime here. 🙂

As always, because I have been rugged by other protocols before (I Got Rug Pulled By SnowDog Dao) , only invest in money you can afford to lose.