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Solignition

A decentralized lending protocol on Solana that provides liquidity for Solana program deployments. Depositors earn yield while borrowers access SOL to deploy their programs to the network.

Overview

Solignition connects liquidity providers with developers who need SOL for program deployment. The protocol:

  • Enables Deposits: Users deposit SOL into a shared liquidity pool and earn yield over time
  • Facilitates Program Deployment Loans: Borrowers request loans to cover the cost of deploying Solana programs
  • Automates Deployments: Includes a deployer service that handles program deployment when loans are approved
  • Distributes Yield: Interest from loans is distributed proportionally to depositors based on their share of the pool
  • Manages Loan Lifecycle: Tracks loans through their lifecycle (Active → Repaid/Recovered)

Core Features

For Liquidity Providers (Depositors)

  • Deposit SOL: Contribute to the liquidity pool
  • Earn Yield: Receive proportional share of interest from loans
  • Withdraw Anytime: Withdraw deposits plus accumulated yield (subject to available liquidity)
  • Track Performance: Monitor deposits and earnings through the web interface

For Borrowers

  • Request Loans: Submit loan requests specifying amount and program to deploy
  • Automated Deployment: Protocol deploys your program upon loan approval
  • Authority Transfer: Receive upgrade authority for your deployed program
  • Flexible Repayment: Repay loans with accrued interest at your convenience

For Protocol Admins

  • Configure Parameters: Set interest rates, admin fees, and other protocol parameters
  • Manage Loans: Recover loans if borrowers fail to repay
  • Protocol Controls: Pause/unpause protocol in emergencies
  • Fee Collection: Treasury receives admin fee split from loan interest

Architecture

Solana Program (Anchor)

Located in anchor/programs/solignition/src/lib.rs, the on-chain program handles:

  • Protocol initialization and configuration
  • Deposit and withdrawal operations
  • Loan request, repayment, and recovery
  • Interest calculations (time-based, using basis points)
  • Yield distribution to depositors
  • Authority management for deployed programs

Key Accounts:

  • ProtocolConfig: Global protocol state and configuration
  • DepositorRecord: Individual depositor balance and yield tracking
  • Loan: Loan details including amount, interest rate, timestamps, and state

Web Interface (React + Vite) — apps/frontend

The @solignition/frontend package, a modern web3 interface built with:

  • Gill SDK: Simplified Solana wallet integration
  • Codama-Generated Client (in apps/frontend/src/anchor-client): Type-safe TypeScript client from the program IDL, imported via the @project/anchor alias
  • shadcn/ui + Tailwind: Professional, accessible UI components
  • Wallet UI Components: Pre-built wallet connection components

Deployer Service — deployer

The @solignition/deployer package, an automated deployment service (runs on a cloud VM via pm2; containerization is a future task) that:

  • Monitors loan requests
  • Deploys programs to Solana when loans are approved
  • Manages deployment state and binaries
  • Transfers program upgrade authority to borrowers

Getting Started

Prerequisites

  • Node.js 18+ and npm
  • Rust and Anchor CLI (anchor-cli)
  • Solana CLI tools
  • A Solana wallet with devnet SOL

Installation

# Clone the repository
git clone <your-repo-url>
cd solignition

# Install dependencies
npm install

Setup

Generate and sync program ID:

npm run setup

This creates a new program keypair and updates:

  • Anchor.toml configuration
  • Program's declare_id! macro
  • TypeScript client exports

Build

Build the Solana program:

npm run anchor-build

Generate the TypeScript client (Codama → apps/frontend/src/anchor-client/generated):

npm run codama:js

Local Development

Start a local validator with the program deployed:

npm run anchor-localnet

In another terminal, start the web interface:

npm run dev

Visit http://localhost:5173 to interact with the protocol.

Testing

Run the Anchor program tests:

npm run anchor-test

The test suite includes comprehensive unit tests for:

  • Interest calculations
  • Yield distribution
  • Loan lifecycle management
  • Edge cases and overflow protection

Deployment

Deploy to Solana Devnet:

npm run anchor deploy --provider.cluster devnet

Update the cluster in the web interface to connect to devnet.

Project Structure

solignition/                     # Monorepo root (npm workspaces + changesets)
├── apps/
│   └── frontend/                # @solignition/frontend — React + Vite web app (self-contained)
│       └── src/
│           ├── anchor-client/   # Codama-generated program client (codama:js output)
│           ├── anchor-idl/      # Anchor IDL + types, synced in via `npm run sync:anchor`
│           ├── components/      # React components (incl. solana/ wallet, ui/ shadcn)
│           └── features/        # Feature UIs (solignition/, account/)
├── anchor/                      # Solana program (Anchor)
│   ├── programs/solignition/    # On-chain program source (lib.rs)
│   ├── target/idl, target/types # Generated IDL + types (synced into the frontend)
│   └── tests/                   # Program tests
├── deployer/                    # @solignition/deployer — Express deploy service
│   ├── src/                     # Service source
│   └── binaries/                # Cached program binaries
├── landing/                     # @solignition/landing — marketing site (Vite)
├── docs/                        # @solignition/docs — docs site (Vite)
├── .changeset/                  # changesets config + pending release notes
└── package.json                 # workspace root (orchestration scripts only)

Monorepo & Releases

This repo is an npm-workspaces monorepo. Each deployable is its own versioned package, and each installs standalone from its own directory with its own lockfile — the root workspaces array and root lockfile exist for local dev and changesets discovery, not for deployment.

Package Path Deploys to
@solignition/frontend apps/frontend Vercel (Root Directory = apps/frontend; self-contained, plain isolated install)
@solignition/landing landing Vercel
@solignition/docs docs Vercel
@solignition/deployer deployer Azure VM via pm2 (Docker is future scaling)
anchor program anchor anchor deploy (upgrade authority)

Versioning with changesets

  • After a meaningful change: run npm run changeset, pick the affected package(s) and the bump level (patch / minor / major), and write a one-line summary. Commit the generated .changeset/*.md file alongside your code.
  • To cut a release: npm run version-packages bumps versions, writes each package's CHANGELOG.md, and consumes the changeset files; commit that, then npm run tag-release creates the git tags. Deploy the package(s) that bumped.
  • There is no parallel/old-version support — deploying replaces production.

Key Concepts

Interest Calculation

Interest is calculated using a time-based formula:

interest = (principal × rate_bps × elapsed_seconds) / (10,000 × SECONDS_PER_YEAR)
  • Rates are in basis points (bps): 100 bps = 1%
  • Time-based accrual: Interest accumulates proportionally to loan duration

Yield Distribution

Loan requested:

  • Open fee spilt between admin_pda and associated vault treasury
  • updates associated share value

When loans are repaid:

  • interest is split into admin_pda and associated vault treasury
  • updates associated share value

Share Value

  • $TotalAssets = TotalDeposits + AccruedInterest$
  • $Share Price = TotalAssets / TotalShares$
  • $WithdrawableAssets = UserShares * SharePrice

Loan States

  • Active: Loan is outstanding, interest is accruing
  • Repaid: Borrower has fully repaid the loan with interest
  • Recovered: Admin has recovered the loan (borrower failed to repay)
  • Pending: loan has been requested and program pending deployment
  • RepaidPendingTransfer: loan has been repaid program pending authority transfer

Configuration

Protocol parameters (set during initialization or via update_config):

  • default_interest_rate_bps: Base interest rate for loans
  • default_admin_fee_bps: Percentage of interest allocated to protocol treasury
  • admin_fee_split_bps: Split between admin and deployer service
  • Pause functionality for emergency stops

Security Considerations

⚠️ This is experimental software. Use at your own risk.

  • Protocol admin has privileged access (recovery, configuration)
  • Loans are collateralized by the smart contract itself
  • No slashing mechanism for failed deployments

Development Tools

This project uses:

  • Anchor 0.30+: Solana program framework
  • Codama: IDL-to-client code generation
  • Gill SDK: Modern Solana web3 library
  • TypeScript: Type-safe client development
  • Vitest: Fast unit testing

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Solana lending program for developers

solignition.xyz

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