Socean is a non-custodial staking pool for the Solana blockchain based on the Solana staking pool reference implementation. Users deposit $SOL, Socean pledges for them, and gives them a derivative token called $SOCN that can be exchanged for $SOL at any time. The $SOCN token can be used for many different use cases such as lending, liquidity provision, trading, etc.

The $scnSOL token represents ownership of $SOL staked in the Socean pool and will allow holders to participate in and profit from the DeFi ecosystem, while earning full staking rewards. The project team aims to replace $SOL with $scnSOL in many DeFi use cases, including market making, margin trading, lending, yield farming, and further DeFi innovation in the Solana ecosystem.