Getting started

Hold the token

1. Open the app and connect a Solana wallet.
2. Enter how much SOL to spend. The app quotes the tokens you receive from the pool, the 0.3% fee, and the token's index value at the live SOL price, so you can see how far the pool price is from the index.
3. Sign one buy transaction. The tokens arrive in your wallet.

That is all. There is nothing to watch: no margin, no liquidation price, no expiry. To leave, sell into the pool.

Open a short

1. open_vault once. It creates your vault at ["vault", your wallet].
2. deposit SOL.
3. mint_power up to the 150% line. The app shows the vault ratio before you sign.
4. Sell the tokens into the pool, or add them as liquidity.

Keep an eye on your ratio. If SOL rises, the ratio falls as 1/SOL. Under 150% anyone may liquidate up to half your debt and take its value plus 10% of it from your vault.

To close: buy back tokens, burn_power them, then withdraw your SOL.

Provide liquidity

1. open_lp once.
2. add_liquidity(lamports, max_tokens). The first provider sets the starting price; later providers add at the current ratio.
3. remove_liquidity(shares) returns your share of both sides.

Worked example

SOL is $100 and NF is 1, so the index is $100 per token.

• A short deposits 15 SOL ($1,500) and mints 10 tokens ($1,000 of debt). The vault is at 150%.
• A holder buys 1 token from the pool for about 1 SOL.
• SOL falls to $50. The holder's token index is $25 (−75%). Nothing happens to the holder.
• SOL instead rises to $120. The short's debt is now $1,440 against $1,800 of SOL: 125%. Anyone may now repay up to 5 tokens and take their value plus 10% from the vault.

Next: Integration