solana-program-library/token-lending

Token Lending program

A lending protocol for the Token program on the Solana blockchain inspired by Aave and Compound.

Full documentation is available at https://spl.solana.com/token-lending

Web3 bindings are available in the ./js directory.

On-chain programs

Please note that only the lending program deployed to devnet is currently operational.

Cluster	Program Address
Mainnet Beta	LendZqTs8gn5CTSJU1jWKhKuVpjJGom45nnwPb2AMTi
Testnet	6TvznH3B2e3p2mbhufNBpgSrLx6UkgvxtVQvopEZ2kuH
Devnet	6TvznH3B2e3p2mbhufNBpgSrLx6UkgvxtVQvopEZ2kuH

Deploy a lending program (optional)

This is optional! You can skip these steps and use the Token Lending CLI with one of the on-chain programs listed above to create a lending market and add reserves to it.

1. Install the Solana CLI

2. Install the Token and Token Lending CLIs:

   cargo install spl-token-cli
   cargo install spl-token-lending-cli
   

3. Clone the SPL repo:

   git clone https://github.com/solana-labs/solana-program-library.git
   

4. Go to the new directory:

   cd solana-program-library
   

5. Generate a keypair for yourself:

   solana-keygen new -o owner.json
   
   # Wrote new keypair to owner.json
   # ================================================================================
   # pubkey: JAgN4SZLNeCo9KTnr8EWt4FzEV1UDgHkcZwkVtWtfp6P
   # ================================================================================
   # Save this seed phrase and your BIP39 passphrase to recover your new keypair:
   # your seed words here never share them not even with your mom
   # ================================================================================
   

   This pubkey will be the owner of the lending market that can add reserves to it.

6. Generate a keypair for the program:

   solana-keygen new -o lending.json
   
   # Wrote new keypair to lending.json
   # ============================================================================
   # pubkey: 6TvznH3B2e3p2mbhufNBpgSrLx6UkgvxtVQvopEZ2kuH
   # ============================================================================
   # Save this seed phrase and your BIP39 passphrase to recover your new keypair:
   # your seed words here never share them not even with your mom
   # ============================================================================
   

   This pubkey will be your Program ID.

7. Open ./token-lending/program/src/lib.rs in your editor. In the line

   solana_program::declare_id!("6TvznH3B2e3p2mbhufNBpgSrLx6UkgvxtVQvopEZ2kuH");
   

   replace the Program ID with yours.

8. Build the program binaries:

   cargo build
   cargo build-bpf
   

9. Prepare to deploy to devnet:

   solana config set --url https://api.devnet.solana.com
   

10. Score yourself some sweet SOL:

    solana airdrop -k owner.json 10
    solana airdrop -k owner.json 10
    solana airdrop -k owner.json 10
    

    You'll use this for transaction fees, rent for your program accounts, and initial reserve liquidity.

11. Deploy the program:

    solana program deploy \
      -k owner.json \
      --program-id lending.json \
      target/deploy/spl_token_lending.so
    
    # Program Id: 6TvznH3B2e3p2mbhufNBpgSrLx6UkgvxtVQvopEZ2kuH
    

    If the deployment doesn't succeed, follow this guide to resume it.

12. Wrap some of your SOL as an SPL Token:

    spl-token wrap \
       --fee-payer owner.json \
       10.0 \
       -- owner.json
    
    # Wrapping 10 SOL into AJ2sgpgj6ZeQazPPiDyTYqN9vbj58QMaZQykB9Sr6XY
    

    You'll use this for initial reserve liquidity. Note the SPL Token account pubkey (e.g. AJ2sgpgj6ZeQazPPiDyTYqN9vbj58QMaZQykB9Sr6XY).

13. Use the Token Lending CLI to create a lending market and add reserves to it.