Getting started

Your first position, from an empty wallet to a loan that pays itself off. The app at /app does every step below for you; this page explains what each step is.

You need

• A Solana wallet (Phantom, Solflare or Backpack).
• JitoSOL or mSOL. If you hold plain SOL, stake it with Jito or Marinade first, or swap for one of them.
• A little SOL for transaction fees and the position account's rent.

1. Open a position

The first time, the app sends open_position for the collateral you picked. It creates your Position account at ["position", collateral, your wallet]. You pay its rent once and get it back when you close it.

2. Deposit

deposit(amount) moves LST from your wallet into the collateral's vault and adds the shares to your position. Your LST keeps earning: the vault holds the same token, at the same pool.

3. Borrow

borrow(amount) mints uSOL to your wallet. You can borrow up to the borrow limit (50% of the deposit's SOL value in the launch setup). The app shows the most you can take.

Borrow less than the limit if you can. It shortens the time to zero and leaves room if the pool rate ever falls.

4. Wait

Nothing else is needed. Each time the pool rate rises, the next sync takes that rise off your debt. The app shows your debt, what the yield has paid so far, and the date the debt reaches zero at today's rate.

5. Take it back

When the debt is zero, withdraw returns every share left in the position. Your position still holds the SOL value you deposited; only the yield went to the debt. Then close_position returns the rent.

Paying early

• With uSOL: repay(amount) burns uSOL against your debt.
• With your collateral: repay_with_collateral(amount) pays the debt with your own LST at the pool rate, in one step.

Worked example

You deposit 100 SOL worth of JitoSOL and borrow 25 uSOL.

At the measured 0.01724% per epoch and 115,505-second epochs. If SOL halves against the dollar in the middle of it, every number in this table stays the same.