Partnered With
The protocol
Every other Solana vault earns borrow rate dressed as funding. We own the CLOB, so the rate you earn is what longs actually pay shorts.
One vault share becomes two tokens. Lock a fixed rate with PT. Lever up on funding with YT. Sell either, any time.
A yield-space invariant built for time-decaying tokens. Converges PT to par at maturity. Real price discovery for yield.
The numbers
Baseline APR
Calm markets. Average funding.
Bull-market APR
Longs desperate for leverage.
Maturities (days)
Three tenors. Standardized.
Intent router
Locks your APR or the whole flow unwinds.
Footnote
Funding turns negative ~20–35% of the time. The insurance fund absorbs the drawdown. If it ever runs dry, the vault pauses and unwinds to USDC — delta-neutral at all times, or not at all.
By: Kimia Protocol
The $285M Drift exploit wasn't an oracle failure — it was admin keys and fake collateral. We break down what actually happened on April 1, and why the next generation of Solana perps has to ship without privileged keys or external yield sources.
By: Kimia Protocol
kUSD is a multi-reserve stablecoin with weight caps, T+1 cross-stable swaps, and on-chain auditable admin controls. The settlement delay kills atomic theft finality — the open problem is building a decentralized hack oracle to flag compromised addresses inside the window.
Waitlist
Early access to the terminal, fixed-rate markets, and protocol updates.
