what's Exponent?
Exponent is a DeFi protocol built on the Solana blockchain, designed to introduce innovative primitives that enable users to generate fixed returns and enhance lending yields. It allows participants to trade yields on various assets by locking in fixed yields, taking long positions on variable yields, or providing market-making liquidity for additional incentives. The protocol integrates with established Solana lending markets such as Kamino and marginfi, facilitating seamless yield optimization without traditional intermediaries. At its core, Exponent operates through principal tokens (PT) and yield tokens (YT), which separate the principal and yield components of assets. Users can swap underlying assets for these tokens to hedge or speculate on future yields, with maturities set for specific dates to match market needs. This structure supports a range of strategies, from predictable income streams to leveraged exposure on yield fluctuations, all while maintaining composability with other Solana ecosystems. The platform lists markets for diverse yield-bearing tokens, including liquid staking derivatives, optimized yield vaults, and lending receipts, enabling broader access to yield trading opportunities previously limited in DeFi.
stORE, ORE's liquid staking token, offers fixed APY or yield speculation for ORE holders.
Partnered with OnRe and Loopscale to launch institutional-grade RWA strategies on Solana, featuring reinsurance-backed yield with a fixed maturity structure.
Exponent is included in a recommended Solana Q1 2026 playbook strategy that involves swapping SOL to bulkSOL and depositing to Exponent.
Launches new USX and eUSX maturities with migration rewards.
Listed stORE, the liquid staking token of ORE, enabling ORE holders to access fixed APY or speculate on future yield rates.
USX PT yields 14.3% APY with $20M liquidity and 56 days remaining. A new ONyc PT offering yields 16% APY with $2.4M liquidity and 41 days remaining.
ttrofel debuts the platform for building experiences around interest-rate swaps like fixed-rate borrowing.
Rockaway_X partners with Kamino, Exponent Finance, and MidasRWA to launch risk-curated RWA vaults on Solana, announced at Breakpoint 2025.
Solstice flares reach 37B with 1.67B daily generation rate, Season 1 ends February with 180-200B projected total. FDV estimated at $50M with potential launch around February 21st.
PT-USX becomes available on Kamino yielding 15.91% APY. YT-USX offers 30x Flares multiplier and YT-eUSX offers 15x Flares multiplier for farming.
A $17M eUSX pool expires Feb 9th with PT-eUSX yielding 17.35% APY (15.87% APY for 100k eUSX deposits). PT-USX positions matured on February 9, 2026, allowing roll over to June 1 positions until February 13, 2026.
Increased USX liquidity cap to $35M for YT/PT-USX trading pairs with Solstice, up from 30M.
YT-BulkSOL yield token trades at 11.36% implied APY for farming BulkSOL staking rewards.
eUSX trades 0.5% below NAV as users move into USX positions on the platform, creating an arbitrage opportunity with redemption periods of 1 day for amounts under 1K eUSX and 7 days for larger amounts.
Solstice USX liquidity pool cap raised to $30m, maintaining 20x Flares reward multiplier.
The total Solstice Flares rewards points supply is 21 billion.
Exponent raised the cap on their Solstice USX liquidity pool which filled to $12m quickly, offering 20x Flares multiplier plus USX rewards.
Flares farmers receive 8% of total SLX token supply allocation, while YT-USX declines 16% to $841 and YT-eUSX drops 51% to $492 from $1,000 initial positions.
Solstice TVL crosses $300m, up from $291m reported on 2025-11-14, continuing growth toward the $375m community reward milestone.
Solstice compensates early YT-eUSX holders with bonus Flares at TGE following communications failure during YT-USX launch on Exponent. eUSX currently yields 13% APY on the platform.
Solstice TVL increases $11m to $291m in less than 24 hours as users deposit to earn Flares points, with next community reward milestone set at $375m TVL.
Exponent launches YT-USX (Yield Token for USX) with 30x Flares multiplier, the highest multiplier offered on the platform.
Solstice USX LP on Exponent annualizes >50% APY, with most returns from trading fees.
Exponent open-sources its Core onchain engine with audited code publicly verifiable via Solana's verified builds and launches $250K bug bounty program. Token experiences approximately 30% price decline.
Exponent introduces 20x Flares multiplier for USX liquidity supply to yield markets.
Solstice TGE projected for mid-end December (approximately 45 days from now). Exponent offers 63% fixed APY for xSOL long positions with 14 days remaining until expiry.
eUSX vault on Exponent provides approximately 30% APY with 10x Flare multiplier for depositors.
Integration with xeetdotai allows users to earn Xeets tokens while discussing Solstice on the platform.
YT-eUSX maturity date is March 11, with current APY projecting 27% losses for holders at maturity according to Exponent Finance.
Additional looping capacity opens on Kamino with the 5x leverage loop offering 51% APY and $1M remaining to borrow.
YT-eUSX strategy generates over 1M Flares per day but experienced 12% price decline in recent days. An upcoming Token Generation Event is referenced.
USX supply hits $11M on Kamino and bumps into deposit caps. USX suppliers receive 50k USX in monthly rewards and 5x Flares boost.
Solstice adds yield looping feature for PT-eUSX holders on Kamino, enabling users to loop collateral and stack Flares rewards on top of fixed yield.
Deposit caps doubled on Kamino after initial PT-eUSX capacity filled within one hour of launch, adding 10M in new deposit capacity.
Supports PT-eUSX positions as collateral for borrowing USX or USDC on Kamino and Loopscale.
Exponent PT positions currently project -30% returns at maturity if eUSX yields remain unchanged.
New Exponent vaults for eUSX launch as the optimal method to earn 10x Flares multiplier, offering ~30% APY with a $100 minimum deposit requirement.
Solstice partnership offers 15x Flares multiplier for PT-eUSX and YT-eUSX strategies, plus 20,000 USX in monthly rewards distributed across all paths.
Solstice eUSX pool goes live offering 37.69% APY for liquidity providers with 10x Solstice Flares through March 2026 expiration, with pool cap nearly filled.
Partnership with Solstice goes live, offering liquidity providers over 40% returns.
Integrated with Loopscale lending platform, supporting Exponent+Solstice Finance principal token (PT-USX) for leveraged looping strategies up to 5x.
Solstice plans to integrate with Exponent next, adding to existing partnerships with Kamino, Orca, and Raydium for its $210M+ TVL stablecoin products USX and YieldVault.
New eUSX/USX looping opportunity goes live on Kamino via Solstice integration with partner referral codes for bonus points.
New Jupiter API integration enables multi-route DeFi yield swaps across Solana's largest assets.
syrupUSDC launches with dual yield options offering fixed and leveraged APY exposure strategies.
USDC yield farming program launches with points rewards system.
PT-fragSOL currently offers 18%+ yield, matching maximum SOL looping returns in multiply.
New market launches with 5x Drift Fuel boost for liquidity providers partnering with Sanctum and Drift Protocol.