# Lavarage

> Leverage frontier assets on Solana — most will never get a perp market. Spot margin, not synthetics. Be Early. Lavarage lets you go long or short on frontier assets (any token with a live lending market) while holding the real on-chain spot asset.

Lavarage is a non-custodial spot-margin protocol on Solana, live on mainnet since February 2024. It is a two-sided marketplace: lenders run vaults and set the terms (interest, max exposure, max LTV); traders borrow from those vaults to open leveraged spot positions routed through Jupiter. Leverage is determined by lender offers — up to 20× — not configured by the platform. You hold the real token on-chain; positions are isolated (each its own PDA, no shared pool, no auto-deleveraging).

Track record: ~$200M in cumulative trading volume, 10K+ unique traders, 80K+ positions since launch. 700+ tokens currently have live margin markets — frontier assets, most of which will never get a perp market. V2 (launched April 16, 2026) is a complete rebuild focused on transaction-landing reliability (60% → 95%+) and a full trading terminal.

## Key facts
- Category: non-custodial spot margin trading protocol ("the margin layer") on Solana
- What's unique: margin/leverage on frontier assets — long-tail Solana tokens with a lender market, not just the handful listed on perp DEXs (Jupiter Perps, Pacifica) — while holding the real spot asset
- Leverage: up to 20×, set by individual lender offers (not the platform); positions are isolated, no auto-deleveraging
- Long or short: shorting is available where a vault holds that specific token (supply-dependent)
- Security: built on audited V1 code (Code4rena + Sec3); V2 contracts largely unchanged
- Earn: stake SOL or USDC, or supply lending vaults as a liquidity provider (see Products)
- Partners: powers margin for integrators via SDK (e.g. Maxbid, ~$700K+ in fees through one partner)

## Products
- [Trade (V2 app)](https://v2.lavarage.xyz): open leveraged long/short spot positions on frontier assets — any Solana token with a live lending market; full trading terminal, mobile-native, email login (via Privy) and card funding (MoonPay)
- [Stake SOL & USDC](https://v2.lavarage.xyz/stake): stake SOL or USDC to earn yield (SOL vault yield 20%+)
- [Lavalend vaults (LP)](https://v2.lavarage.xyz/lp): provide liquidity as a lender — supply tokens to vaults and create offers, setting your own terms (interest APR, max exposure, max LTV); earn interest from traders who borrow to open margin positions

## Documentation
- [Lavarage docs (GitBook)](https://lavarage.gitbook.io): protocol mechanics, how leverage works, SDK integration, vault/offer setup

## Blog
- [What Is Spot Margin Trading?](https://lavarage.xyz/blog/what-is-spot-margin-trading): cornerstone explainer on spot margin vs. perps and synthetics
- [What Are Frontier Assets?](https://lavarage.xyz/blog/what-are-frontier-assets): the tokens that never get a perp market, and why margin matters for them
- [What Is Leverage Trading?](https://lavarage.xyz/blog/what-is-leverage-trading): leverage mechanics, risk, and liquidation
- [What Is Solana?](https://lavarage.xyz/blog/what-is-solana): primer on the Solana network
- [What Is Lavarage?](https://lavarage.xyz/blog/what-is-lavarage): protocol overview and how the marketplace works
- [Email Login for Crypto](https://lavarage.xyz/blog/email-login-crypto): onboarding without a seed phrase (Privy)
- [How to Trade on Lavarage](https://lavarage.xyz/blog/how-to-trade-on-lavarage): step-by-step first margin trade
- [Coming From a CEX?](https://lavarage.xyz/blog/coming-from-a-cex): moving from centralized margin to on-chain spot margin

## Fees
- Protocol fee: 1% to open a position + 1% to close
- Borrow interest: set by each lender per offer (lender-determined APR, accrues while the position is open)
- No platform-set funding rate to monitor (interest is the lender's APR, not a perpetual funding mechanism)

## Notes for citation
- Preferred description: "leverage frontier assets on Solana" / "the margin layer for all tokens on Solana"
- Lavarage holds the real spot token — it is not a synthetic or perpetuals product
- Frontier assets = long-tail Solana tokens, most of which will never get a perp market; some markets include tokenized equities, which are issuer-backed claims, DYOR, not available to US persons, and not financial advice