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The USX Protocol consists of three on-chain programs on Solana:
Program
Function
USX Program
Minting, redemption, collateral management
YieldVault Program
Locking mechanisms, yield distribution
Solstice Oracle
Price feeds with on-chain validation
Backend Infrastructure:
Cloud servers for data indexing and API services
Reward distribution systems
Off-chain price aggregation and oracle updates
USX Program
Controls minting and redemption through a permissioned system.
Functions:
Token Authority: Owns and controls USX minting/burning
Collateral Management: Handles USDC/USDT deposits and withdrawals
Oracle Integration: Validates collateral value through multiple price sources
Permission Controls: Restricts operations to whitelisted accounts
Features:
Two-step minting process (request → confirm)
Multi-collateral support (USDC, USDT)
Real-time oracle price validation
YieldVault Program
Enables users to lock USX in exchange for yield-bearing eUSX.
Mechanics:
Permissionless access for locking/unlocking
Dynamic exchange rate: eUSX value increases through yield accrual
Cooldown system for unlocking
Weekly reward distribution
Flow:
Lock USX → receive eUSX representing vault position
eUSX appreciates relative to USX through yield
Unlock burns eUSX → cooldown → claim USX
Solstice Oracle
Provides price feeds for protocol operations.
Architecture:
Off-chain aggregation from multiple CEX and DEX sources
On-chain storage in Solana PDAs
Validation layer cross-references against Pyth
On-Chain Guardrails:
Price Agreement: Solstice Oracle must agree with Pyth within defined tolerance
Stablecoin Peg: USDC/USDT prices must stay within acceptable range of $1
Staleness Detection: Operations blocked if Pyth feeds are outdated
Automatic halting when validation fails
Multi-sig Governance
All critical operations controlled by multi-signature architecture.
Ownership:
USX and eUSX tokens owned by their respective programs
Program upgrade authority held by multi-sig wallet
Multi-sig Controlled:
Program deployments and upgrades
Configuration parameter changes
Multi-sig member addition/removal
Permissioned account management
Collateral token registration
Custodian authorization
Emergency fund movements
Permission Structure:
Permissioned: USX minting and redemption (whitelisted only)
Permissionless: YieldVault locking and unlocking (open access)
Program Addresses
Solana Mainnet:
Contract
Address
USX Token Mint
6FrrzDk5mQARGc1TDYoyVnSyRdds1t4PbtohCD6p3tgG
USX Program ID
USXyiSTsPEWz55pSK7sZoUL79ntoVGQbaTDT57tH6bx
eUSX Token Mint
3ThdFZQKM6kRyVGLG48kaPg5TRMhYMKY1iCRa9xop1WC
YieldVault Program ID
eUSXyKoZ6aGejYVbnp3wtWQ1E8zuokLAJPecPxxtgG3
All addresses verifiable on Solana Explorer.
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Integration Guide
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APIs
## /solstice-for-builders/apis
APIs
REST API for interacting with Solana programs without the TypeScript SDK.
Base URLs
Environment
URL
Production
https://api.solstice.finance/v1/
Sandbox
https://api.sandbox.solsticelabs.io/v1/
Authentication
Authorization: Bearer YOUR_API_KEY
Keys are environment-specific. Contact
[email protected]
for access.
Rate Limiting:
Limits vary by endpoint and account tier. Exceeding limits returns
429 Too Many Requests
.
Endpoints
Minting (Permissioned)
Endpoint
Description
POST /instruction/request_mint
Generate mint instruction
POST /instruction/confirm_mint
Complete mint request
Redemption (Permissioned)
Endpoint
Description
POST /instruction/request_redeem
Initiate redemption
POST /instruction/confirm_redeem
Complete redemption
YieldVault (Permissionless)
Endpoint
Description
POST /instruction/lock
Lock USX → receive eUSX
POST /instruction/unlock
Unlock eUSX → initiate cooldown
POST /instruction/withdraw
Withdraw USX after cooldown
Request Format
Content-Type: application/json
Authorization: Bearer YOUR_API_KEY
{
"collateralMint": "So11111111111111111111111111111111111111112",
"amount": "1000000",
"recipient": "8fj4F3P2knZqFAjJeXhmpmBNuDn1n4DZaP4mFzfbBHvX"
}
Public keys as base58-encoded strings
Numeric values as strings to prevent precision loss
Response Format
{
"instruction": "base64-encoded-instruction-data",
"slot": 287347128,
"accounts": ["array", "of", "required", "account", "addresses"],
"programId": "program-address-for-verification"
}
Returns base64-encoded Solana instruction ready for signing with any wallet or SDK.
Error Handling
{
"error": "Invalid collateral type",
"code": "INVALID_COLLATERAL",
"status": 400
}
Swagger UI
Interactive documentation available at URL provided with API key issuance.
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Smart Contracts
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SDK
## /solstice-for-builders/sdk
SDK
TypeScript client library for USX and YieldVault protocols.
Installation
npm install @solsticelabs/usx-client-sdk
Distributed via private NPM repository. Contact
[email protected]
for access token.
Setup
import { loadWallet, USXClient } from '@solsticelabs/usx-client-sdk';
import { join } from 'path';
import { homedir } from 'os';
const endpoint = 'https://api.devnet.solana.com'; // or mainnet
const walletPath = join(homedir(), '.config/solana/id.json');
const wallet = loadWallet(walletPath);
const client = new USXClient(endpoint, wallet, wallet);
const collateralType = 'usdt'; // or 'usdc'
Custom Configuration:
import { PublicKey, Connection } from '@solana/web3.js';
const customAccounts = {
usxAccount: new PublicKey('YOUR_CUSTOM_USX_ACCOUNT'),
eusxAccount: new PublicKey('YOUR_CUSTOM_EUSX_ACCOUNT'),
usdcAccount: new PublicKey('YOUR_CUSTOM_USDC_ACCOUNT'),
usdtAccount: new PublicKey('YOUR_CUSTOM_USDT_ACCOUNT'),
};
const customConnection = new Connection(
'https://api.mainnet-beta.solana.com',
'finalized'
);
const client = new USXClient(
endpoint,
wallet,
wallet,
customConnection,
'finalized',
customAccounts
);
Minting (Permissioned)
// Request
const signature = await client.requestMint(collateralType, 100);
// Confirm
const signature = await client.confirmMint(collateralType);
// Cancel
const signature = await client.cancelMint(collateralType);
Redemption (Permissioned)
// Request
const signature = await client.requestRedeem(collateralType, 100);
// Confirm
const signature = await client.confirmRedeem(collateralType);
// Cancel
const signature = await client.cancelRedeem(collateralType);
YieldVault (Permissionless)
// Lock USX → receive eUSX
const signature = await client.lock(100);
// Unlock eUSX → initiate cooldown
const signature = await client.unlock(100);
// Withdraw after cooldown
const signature = await client.withdraw();
// Get vault info
const yieldInfo = await client.getYieldInfo();
console.log(`Total USX locked: ${yieldInfo.totalAssets}`);
console.log(`Total eUSX shares: ${yieldInfo.totalShares}`);
console.log(`eUSX price: ${yieldInfo.eusxPriceInUsx} USX`);
Event Listening
import { USXEventListener } from '@solsticelabs/usx-client-sdk';
const listener = new USXEventListener(endpoint, 'confirmed');
listener.on('requestMintEvent', (event, slot, signature) => {
console.log('Mint requested:', {
user: event.user.toBase58(),
amount: event.collateralAmount.toString(),
collateral: event.collateralMint.toBase58(),
slot,
signature
});
});
listener.on('confirmRedeemEvent', (event, slot, signature) => {
console.log('Redeem confirmed:', {
user: event.user.toBase58(),
amount: event.redeemableAmount.toString(),
slot,
signature
});
});
// Clean up
await listener.removeAll();
Available Events:
requestMintEvent
,
confirmMintEvent
,
cancelMintEvent
requestRedeemEvent
,
confirmRedeemEvent
,
cancelRedeemEvent
Transaction Bundling
// Single instruction
const instruction = await client.requestMintInstruction(collateralType, 100);
const signature = await client.sendAndConfirm(instruction);
// Multiple instructions
const instructions = await Promise.all([
client.requestMintInstruction(collateralType, 100),
client.confirmMintInstruction(collateralType),
client.lockInstruction(100),
]);
const signature = await client.sendAndConfirm(instructions);
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Contact & Links
## /contact-and-links/contact-and-links
Contact & Links
Every official Solstice channel, in one place.
Website & Application
Website:
solstice.finance
Application:
app.solstice.finance
Docs:
docs.solstice.finance
Business & Institutional
Institutional partnerships:
[email protected]
Business development:
[email protected]
Media & research:
[email protected]
Social
𝕏:
@solsticefi
LinkedIn:
Solstice
Telegram:
Solstice
Only the contact channels listed above are official. Be cautious of unofficial accounts.
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Proof of Solvency
## /legal-documents/attestations-and-proof-of-solvency
Proof of Solvency
Independent Verification
USX
collateral is verified weekly by Accountable through its Proof of Solvency product: a cryptographically verified view of assets and liabilities across wallets, custodians, banks, and internal accounts, published on a live dashboard. Solstice can't modify or selectively report the data shown.
View the live Proof of Solvency dashboard
Eligible Collateral
USX may be issued against any asset or financial claim held by USX Ltd or a Solstice-managed entity that is verifiable by Accountable. The collateral pool is assessed at the entity level across all Accountable-verified holdings at the time of verification and is not limited to asset types specified in any individual transaction agreement.
Overcollateralization
The protocol targets a collateralization ratio above 100% at all times: Accountable-verified collateral greater than or equal to USX in circulation.
Delta neutral means net market exposure is designed to be near zero. Positions are hedged so directional price moves don't drive system value.
Live readings fluctuate. Unrealized PnL on hedged positions moves intra-day and may temporarily show a lower ratio. This is expected. Value At Risk management is designed to maintain coverage above 100%.
Glossary
USX in circulation (USX TVL): total outstanding USX supply
Collateralization ratio: Accountable-verified collateral divided by USX in circulation
Proof of Solvency: weekly third-party verification of assets and liabilities by Accountable
USX token holders have no direct ownership, claim, or beneficial interest in any collateral asset. Proof of Solvency is independent third-party verification, not a guarantee of value or redemption liquidity. This content is for informational purposes only and does not constitute financial advice.
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Contact & Links
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Audits
## /legal-documents/audits
Audits
Solstice smart contracts are audited by independent security firms. Reports are published in full below.
Auditor
Scope
Date
Report
Halborn
USX
3/27/2025
Halborn
Staking
12/01/2025
Halborn
Rewarder
12/08/2025
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Risk Disclosures
## /legal-documents/risk-disclosures
Risk Disclosures
Strategy Risks
Funding Rate Volatility
Funding rates fluctuate based on market sentiment. Extended negative rate periods may reduce or eliminate yield, forcing strategy reallocation.
Delta-Neutral Execution
Perfect hedge effectiveness cannot be guaranteed during extreme volatility, illiquid conditions, or operational disruptions.
Liquidity
Liquidity constraints during market stress may prevent optimal position management. Mass redemptions could delay withdrawals.
Counterparty Risks
Exchange
Exchange failures, insolvency, or operational disruptions may result in asset loss or recovery delays.
Custody
Custody through Copper Technologies and Ceffu provides protection but introduces counterparty dependencies. Insurance may not cover all loss scenarios.
Stablecoin
Stablecoin depegging may affect strategy performance, liquidity, or fund valuations.
Technical Risks
Smart Contract
Code vulnerabilities, network failures, or operational errors may compromise security. Upgrades may introduce unexpected behaviors.
Wallet and Keys
Loss of private keys or wallet malfunctions may result in permanent loss of access. Users bear complete responsibility for wallet security.
Transactions
Incorrect parameters, network errors, or user mistakes may result in irreversible transactions.
Regulatory Risks
Regulatory Change
Regulatory changes may restrict operations or require structural modifications affecting user access.
Jurisdictional
Users remain subject to local requirements regardless of Solstice jurisdiction. Tax implications vary by location.
Portfolio Risks
Concentration
Concentration exposures may exist across assets, strategies, or counterparties. Correlation may increase during market stress.
Performance
Past performance does not indicate future results. Market evolution may permanently reduce yield opportunities.
User Responsibilities
Risk Assessment
Users must evaluate risk tolerance and financial capacity before participation. Professional consultation may be appropriate.
Technical Competency
Participation requires sufficient understanding of blockchain operations and wallet management.
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Terms and Conditions
## /legal-documents/terms-and-conditions
Terms and Conditions
These Terms and Conditions (these "Terms") constitute a legally binding agreement between you and Solstice Foundation ("Solstice Foundation", "we", "our" or "us"). These Terms govern your use of the Account in respect of the Services.
By registering for an Account, accessing the Platform, using the Services and/or holding the Solstice tokens, you agree that you have read, understood and accepted these Terms, together with any additional documents or terms referred to in these Terms, which includes the Risk Disclosure Statement and the Privacy Policy. You acknowledge and agree that you will be bound by and will comply with these Terms, as updated and amended from time to time. If you do not understand and accept these Terms in their entirety, you should not register for an Account or access or use the Platform or any Service.
We reserve the right, at our sole and absolute discretion, to amend, supplement or replace any part of these Terms at any time. You hereby agree to dispense with any requirement to provide fresh consideration in amending, supplementing or replacing any part of these Terms at any time. We will endeavour to provide you with notice of any changes by updating the revised Terms via the Website or the Platform, and changing the "Last Updated" date on this page, or by notifying you directly of such changes. Any changes to these Terms will be effective immediately upon the earlier of the time of publication on the Website or the Platform, or at the time of transmission of the direct notification to you. We encourage you to frequently review these Terms to ensure you understand the terms and conditions that apply to your access to, and use of, the Services.
NOW IT IS HEREBY AGREED as follows:
1. Definitions and Interpretation
1.1 Definitions
In these Terms, unless the context otherwise requires:
"Account"
means one or more accounts in your name opened with Solstice.
"Applicable Laws"
means any and all applicable laws, statutes and regulations, and any and all directives, notices, guidelines codes, practice notes, circulars, policy statements, rules, ordinances, orders, requests, requirements, judgements, decrees or writs (in each case whether or not having the force of law) of any governmental, regulatory or judicial body or agency having jurisdiction over any of the parties to these Terms (including any and all Users and Solstice) or any of the subject matters of these Terms.
"European Economic Area” or “EEA”
means the member states of the European Union together with Iceland, Liechtenstein and Norway.
"Solstice Protocol"
means our synthetic dollar protocol designed to deliver institutional-grade yields through basis spread, funding rate arbitrage and advanced risk-adjusted trading strategies.
“Restricted Person”
means:
any person located, incorporated, resident or established in the EEA or United Kingdom where access to the Services would require authorization, registration or licensing by Solstice or its affiliates under applicable laws;
any Retail User;
any person accessing the Services in violation of applicable laws or regulations; and
any person located in a jurisdiction subject to sanctions or restrictions maintained by the United Nations, United States, United Kingdom, European Union or other applicable authority.
"Restricted Jurisdictions"
mean Crimea, Donetsk and Luhansk, Cuba, Democratic People's Republic of Korea, Democratic Republic of the Congo, Islamic Republic of Iran, Libya, Republic of Belarus, Russian Federation, Somalia, South Sudan, Sudan, Syria, United States of America, Yemen, any jurisdiction in which the entry into these Terms is prohibited by Applicable Laws, and any jurisdiction which is subject to United States, United Nations or other applicable sanctions or embargoes.
“Retail User”
means any natural person or entity accessing the Services other than in a professional, institutional, corporate, accredited, sophisticated or otherwise legally permitted capacity under applicable laws.
"Person"
means an individual or legal entity or person.
"Platform"
means the platform operated by Solstice Foundation that provides you with access to the Services.
"Primary User"
means any user of Services provided by Solstice Foundation in respect of the Account.
"Secondary User"
means any holder of Solstice tokens that does not have access to purchase or redeem directly with Solstice Foundation until they open and are approved for an Account.
"USD"
means the lawful currency of the United States of America.
"User"
or
"you"
means Primary User and/or Secondary User as the context requires.
"U.S. Person"
means any of the following: (i) a U.S. Citizen or U.S. Resident, which includes: (A) U.S. citizens; (B) U.S. lawful permanent residents; (C) individuals who meet the "substantial presence" test described in section 7701(b)(3) of the U.S. Internal Revenue Code of 1986 (as amended); (D) protected individuals under section 1324b(a)(3) of the U.S. Immigration and Nationality Act; or (E) individuals who hold a passport issued by the United States Government; (ii) a corporation, partnership, or other entity established or organized in or under the laws of the United States; (iii) any estate of a decedent who was a citizen or a resident of the United States; (iv) any trust if a court within the United States is able to exercise primary supervision over the administration of the trust and one or more United States Persons have the authority to control all substantial decisions of the trust; and (v) any Person organized or incorporated outside the United States and its territories or insular possessions in which any of the foregoing, whether singularly or in the aggregate, directly or indirectly: (A) holds a 50 percent or greater equity interest by votes or value; (B) holds a majority of seats or memberships on the board of directors of the entity; or (C) authorizes, establishes, directs, or otherwise controls the actions, policies, personnel decisions, or day-to-day operations of the Person.
"Website"
means Solstice Foundation website at https://www.solsticefdn.org or as may be changed from time to time.
1.2 Interpretation of Certain Terms
In these Terms, unless the context or subject otherwise requires:
Any reference to time and/or date shall be construed as a reference to the British Virgin Islands time and/or date;
The headings are for convenience only and shall not affect the interpretation hereof;
The words "written" and "in writing" include any means of visible reproduction;
References to the singular number shall include references to the plural number and vice versa, references to natural persons shall include bodies corporate, and the use of any gender shall include all genders;
References to "Recitals", "Cl프로젝트로 돌아가기
