Protocol Documentation · v1.0
SOLARA Documentation
SOLARA is a non-custodial yield protocol on Solana. It routes USDC deposits into audited, battle-tested yield infrastructure — automatically — so anyone can earn institutional-grade returns without the operational complexity.
Overview
SOLARA is a permissionless, non-custodial yield aggregator built on Solana. Users deposit USDC into one of twelve vaults, and the protocol deploys that liquidity into audited strategies powered by Kamino Finance. Positions remain owned directly by the user’s wallet at all times — SOLARA never takes custody.
How It Works
Connect your Solana wallet
SOLARA supports all major Solana wallets (Phantom, Solflare, Backpack). Connection is read-only until you explicitly sign a transaction. Your keys never leave your device.
Choose a vault
Pick the strategy that matches your risk appetite — stable income, market yield, BTC exposure, or S&P 500 tracking. Each vault shows its current APY or performance target, minimum deposit, and risk tier.
Deposit USDC
You sign a single transaction on Solana. The protocol routes your USDC into the underlying Kamino strategy. A receipt token (vault share) is minted to your wallet representing your pro-rata claim.
Earn automatically
Yield accrues on-chain and compounds daily. There is nothing to claim manually — your vault share value grows over time to reflect accrued yield.
Withdraw anytime
Burn your vault shares to redeem the underlying USDC (plus accrued yield) in a single transaction. No lockups, no withdrawal queues under normal market conditions.
Vaults
SOLARA currently offers twelve vaults, each calibrated for a distinct risk profile. APYs are variable and reflect live on-chain conditions.
Cash Vault
STABLEConservative stablecoin lending. Designed to track short-duration USDC money-market rates with minimal volatility.
Market Vault
YIELDHigher-yield USDC strategy leveraging blue-chip Solana lending markets. APY varies with market demand.
sBTC
BTCSynthetic BTC exposure denominated in USDC. Value moves with the market price of BTC — may decrease if BTC declines.
sSPY
S&P 500Synthetic exposure to the S&P 500 index, settled in USDC. Value tracks equity market performance.
Balanced Vault
BALANCEDRisk-balanced multi-strategy vault inspired by Kamino's Allez USDT. Blends stable lending and lightly hedged exposure to smooth out drawdowns.
sETH
ETHHedged ETH exposure via Kamino Multiply. Tracks ETH on the upside while dampening drawdowns through an active hedge leg, settled in USDC.
sSOL
SOLSynthetic SOL exposure denominated in USDC. Value moves with the spot price of SOL — direct, unhedged.
Solara Vault
FLAGSHIPSolara's flagship multi-leg multiply strategy — actively rebalanced across the highest-conviction Kamino markets. Settled in USDC.
sJLP
JLPTracks the Jupiter Perps LP (JLP) — a basket of BTC, ETH, SOL, and stables that earns trader fees. Held as USDC-denominated exposure.
sQQQ
NASDAQSynthetic exposure to the NASDAQ-100 index, settled in USDC. Value tracks tech-heavy equity performance.
sGLD
GOLDSynthetic exposure to spot gold (XAU), settled in USDC. Designed as a diversifier with low correlation to crypto and equities.
sTLT
BONDSSynthetic exposure to long-duration US Treasuries (TLT). Settled in USDC. Defensive sleeve with low correlation to risk assets.
Hedging
A hedge is a position designed to offset the risk of another position. In SOLARA, hedging means pairing exposure to an asset (like ETH or SOL) with an opposing position so the vault captures the upside while damping the downside, instead of just riding the spot price up and down.
Mechanically, a Kamino Multiply vault can lend the underlying asset and simultaneously borrow it back at a controlled ratio. The yield from the lending leg, combined with delta-neutral or delta-reduced exposure on the borrowing leg, produces a smoother return profile than holding the asset outright.
How hedging applies to each vault
Not every SOLARA vault is hedged. The table below shows the posture of each vault so you know exactly how much market risk you are taking.
Cash Vault
FULLY HEDGED100% USDC. No market exposure to hedge — principal sits in stablecoin lending.
Market Vault
FULLY HEDGEDUSDC-denominated lending strategy. No directional crypto exposure.
Balanced Vault
PARTIALLY HEDGEDBlends stable lending with lightly hedged Multiply legs to smooth drawdowns.
sETH
PARTIALLY HEDGEDTracks ETH on the upside while a hedge leg dampens drawdowns. You still take ETH market risk — just less of it than holding spot.
Solara Vault
PARTIALLY HEDGEDFlagship multi-leg multiply strategy with active rebalancing across the highest-conviction Kamino markets.
sJLP
DIVERSIFIEDJLP is itself a basket of BTC, ETH, SOL and stables — internally diversified, but not hedged against the basket itself falling.
sBTC / sSOL / sQQQ / sGLD / sTLT
UNHEDGEDPure directional exposure to BTC, SOL, NASDAQ-100, gold, or long-duration Treasuries. Value moves 1:1 with the underlying — there is no hedge leg.
sSPY
UNHEDGEDPure directional exposure to the S&P 500. Settled in USDC, but the value tracks equity prices up and down.
Yield Source
SOLARA does not originate yield itself. It is a routing and UX layer over Kamino Finance, one of Solana’s largest audited DeFi protocols, which powers the lending markets and vault strategies that generate the returns.
The Cash, Market, and Balanced vaults earn interest from borrowers on Kamino’s USDC lending markets. The directional vaults (sBTC, sSPY, sSOL, sJLP, sQQQ, sGLD, sTLT) use Kamino’s structured exposure products to replicate the price performance of their underlying assets (BTC, S&P 500, SOL, JLP, NASDAQ-100, gold, Treasuries), while keeping your principal denominated in USDC.
Because all yield-generating logic lives in Kamino’s audited contracts, SOLARA inherits Kamino’s security model. Every deposit, withdrawal, and yield payment is recorded on the Solana blockchain and independently verifiable.
Security
Non-custodial by design
SOLARA never holds user funds. Vault shares are owned directly by your wallet. If SOLARA’s frontend disappeared tomorrow, you could still interact with the underlying Kamino contracts directly on-chain to withdraw.
Audited infrastructure
The underlying yield engine — Kamino Finance — has been independently audited by multiple firms and secures hundreds of millions of dollars in TVL across Solana.
Fully on-chain
All positions, deposits, withdrawals, and yield accrual are public and verifiable on the Solana blockchain. There are no off-chain ledgers.
No admin keys over user funds
SOLARA cannot pause withdrawals, seize assets, or modify your balance. Control over user funds rests entirely with the user’s wallet and the immutable underlying protocol.
Risks
DeFi involves risk. Past performance does not guarantee future results. Before depositing, please understand the following risk categories:
Smart contract risk
Despite audits, smart contracts may contain undiscovered vulnerabilities. A bug in Kamino or any integrated protocol could result in partial or total loss of deposited funds.
Market risk
For directional vaults (sBTC, sSPY, sSOL, sJLP, sQQQ, sGLD, sTLT) and partially-hedged vaults (sETH, Solara, Balanced), the vault value is tied to the performance of the underlying asset. These assets can and do decline in value.
Oracle risk
Price-tracking vaults rely on on-chain price oracles. Oracle manipulation or failure could cause temporary mispricing of vault shares.
Liquidity risk
Under extreme market conditions, withdrawals from underlying lending markets may be delayed until utilization returns to normal levels.
Regulatory risk
Regulatory treatment of DeFi protocols varies by jurisdiction and may change. Users are responsible for compliance with applicable local laws.
Fees
SOLARA is designed to be transparent about fees. All fees are charged on-chain and visible in every transaction.
The displayed APY is the net APY — already accounting for any performance fees at the strategy layer.
FAQ
Is SOLARA custodial?+
No. SOLARA is fully non-custodial. Your deposited USDC is deployed into on-chain vaults that you own directly. SOLARA cannot access, freeze, or withdraw your funds.
Are there lockups?+
No. Under normal market conditions you can withdraw at any time in a single transaction. Withdrawals may be temporarily slowed during extreme utilization of underlying lending markets.
How is yield paid?+
Yield is not paid as a separate token. Your vault share token appreciates in value over time to reflect accrued yield. When you withdraw, you receive your principal plus yield in USDC.
Why Solana?+
Solana offers sub-second finality and transaction costs under one cent, which makes automated yield routing and daily compounding economically viable for deposits as small as $1.
What happens if SOLARA's website goes offline?+
Your funds are unaffected. Vault positions are held in your own wallet on-chain. You can always interact directly with the underlying Kamino contracts to manage or withdraw your position.
Which wallets are supported?+
Any major Solana wallet — Phantom, Solflare, Backpack, and others compatible with the Solana Wallet Adapter standard.
Is there a SOLARA token?+
At launch there is no SOLARA governance token. Any future token announcement will be published through SOLARA's official Twitter / X and GitHub channels only. Beware of impersonators.