FAQ

Is there interest?

No. The program never adds anything to a debt over time. The debt goes up only when you borrow and goes down when the yield is swept or when you repay.

Is there a fee?

No. 100% of the swept yield goes onto your debt. You pay Solana transaction fees and the rent for your position account, which you get back when you close it.

So what does the loan really cost?

If you sell your uSOL for SOL or dollars, the cost is any discount uSOL trades at under one SOL when you sell. Early on, while the redemption buffer is still filling, that discount is the real price of the loan. See Economics.

Can I be liquidated?

Not by a price move. The program reads no price; your deposit and your debt are both counted in SOL. The only forced path is an unwind at par, and it opens only if your stake pool's own exchange rate falls far enough to push you past the unwind line (60% in the launch setup). Even then it takes SOL for SOL: no penalty, no bonus.

What if SOL falls 90%?

Your loan to value does not change. If you sold your uSOL for dollars, you also still hold the dollars; what you owe is SOL, so your net exposure to SOL is your deposit minus your debt. Measured on a local chain with Jito's real pool account cloned in: a position at the 50% limit stayed at 50.0%, and an unwind attempt failed with PositionHealthy. The same loan in dollars would have been at 500% of its collateral.

What do I receive when I borrow?

uSOL, a Token-2022 token counted in SOL. Keep it, swap it for SOL or a stablecoin, or use it anywhere that accepts it. You owe uSOL back, not dollars.

How long until my loan is gone?

Years, not weeks. At the yield measured on mainnet at epoch 1050 (about 4.8% a year for JitoSOL), the engine's tests measured a loan of 10% of the deposit clearing in 777 days, 25% in 1,940 days (about 5.3 years) and 50% in 3,878 days (about 10.6 years). The app shows your own date at today's rate.

What if staking yields fall?

The debt shrinks more slowly. It never grows, and a lower yield cannot trigger anything.

Do I need to do anything while I wait?

No. Anyone can sync any position, and every instruction you send settles yours first.

Can I repay early?

Yes, with uSOL (repay) or with your own collateral (repay_with_collateral), any time.

What happens after the debt reaches zero?

The yield stays in your position again, and you can withdraw everything. The position still holds the SOL value you deposited.

What backs uSOL?

Open debts, backed by collateral worth at least twice as much at a 50% limit, and the redemption buffer: the LST swept from yield and from collateral repayments. Any holder can redeem uSOL for one SOL of LST from the buffers, pro rata across every collateral.

Which collateral can I use?

JitoSOL and mSOL. The program supports SPL stake pools and Marinade, at most four collaterals in total.

Can the team take my deposit?

No instruction lets the admin move a vault, a position or anyone's uSOL. The admin can add collateral, change limits within hard bounds, pause new borrowing for one LST, and raise (never lower) unwind thresholds. See Security and trust.