FAQ
Frequently Asked Questions
For Beginners
What is Sendit in simple terms? Sendit is a DeFi protocol on Solana where you can earn interest, borrow against your tokens, or trade with up to 3x leverage. It supports both mainstream and meme tokens.
Do I need to create an account or verify my identity? No. Sendit is a permissionless protocol — simply connect a Solana wallet like Phantom, Backpack, or Solflare to start.
Is Sendit only for advanced users? No. While Sendit offers advanced strategies, it abstracts the complexity. Depositing, trading, and borrowing are made simple with a clean interface and automation.
How do I get started?
Connect your Solana wallet.
Deposit SOL to earn yield or SPL tokens to use as collateral.
Borrow SOL or open leveraged trading positions.
Monitor your position’s health and withdraw anytime liquidity is available.
Are there minimum deposit amounts? No, there are no strict minimums to lend or borrow.
General
What is Sendit? Sendit is a permissionless borrowing, lending, and margin trading protocol on Solana. It allows anyone to create markets for SPL tokens and earn or borrow against them.
How does Sendit work?
Lenders deposit SOL into isolated liquidity pools and earn interest.
Borrowers deposit collateral (SPL tokens) and borrow SOL.
Traders use leverage by borrowing SOL to buy tokens and take long positions.
What are isolated markets? Each token on Sendit has its own independent pool for lending and borrowing. This contains risk and protects the system from contagion in the event of a token crash.
What blockchain is Sendit built on? Sendit is deployed on Solana, chosen for its high speed, low fees, and DeFi ecosystem.
SOL Earn Vaults
What is SOL Earn? SOL Earn is a suite of vaults where users can deposit SOL and earn automated yield. The vaults reallocate SOL across markets to maximize yield.
What are the different vaults?
Blue Chip Vault: safest; allocates to large-cap tokens (>$500M).
Mid Cap Vault: includes blue chips + mid-cap tokens (>$100M).
Small Cap Vault: highest yield and risk; includes small caps (>$10M).
Where does the yield come from? Yield is generated from:
Lending APR
Loan Origination Interest
Token Incentives (auto-claimed, converted to SOL, re-supplied)
Can I withdraw at any time? Yes, unless the pool is fully borrowed. In that case, withdrawal is possible once liquidity is returned.
Is it safe to use SOL Earn? While automated and risk-optimized, all vaults carry risks such as liquidation, negative yield spreads, or oracle failures.
Memecoin Yielding Vaults
What are Memecoin Vaults? Users deposit a token (usually a memecoin) as collateral. Sendit borrows SOL against it, re-lends the SOL, and captures the yield. The cycle auto-compounds.
How is the yield distributed? Yield is earned in SOL, swapped for the token you deposited, and added to your vault position.
What are the risks?
Collateral devaluation → liquidation
Insufficient yield → negative return
Yield spread inversion
System or oracle malfunction
Trading & Margin
What is margin trading on Sendit? Users borrow SOL to increase buying power and go long on tokens with up to 3x leverage. The bought token becomes collateral.
How does it work?
Select a token to long
Choose leverage (up to 3x)
Use SOL from wallet + borrowed SOL
Token becomes collateral
Trade is physically settled and visible
What is the maximum leverage? Sendit supports up to 3x leverage for margin trading.
Is shorting supported? No. Sendit is long-only to align with token communities and reduce negative impact on assets.
Where are trades executed? Through Jupiter for best price execution. All trades are physically settled (not synthetic).
What is a liquidation price? It’s the price at which your position is forcibly closed to repay borrowed SOL. Visible in the UI and dynamically updated.
Risk & Security
What are the risks of using Sendit?
Smart contract risk
Oracle inaccuracy
Liquidity shortfalls
Market volatility
Yield spread inversion
Bad debt in illiquid markets
What does Sendit do to mitigate risks?
Isolated markets
Pyth-based Verified Markets
Due diligence before vault asset inclusion
Real-time LTV adjustments
Transparent oracles and feed IDs
What is a Health Factor? A metric showing the safety of your position:
1.0 = Safe
< 1.0 = Risk of liquidation
What happens if my Health Factor drops below 1.0? Your position may be liquidated. Collateral will be sold and a penalty applied to cover the borrowed amount.
Fees & Parameters
Are there any fees on Sendit? Yes:
Borrowing Interest (Borrow APR)
Loan Origination Fee (once-off)
Trading Fee (for leveraged margin positions)
Liquidation Penalty (applied on liquidation)
Is there a cost to create a market? Yes, creating a market is subject to a 2 SOL market creation.
Markets & Oracles
What oracles does Sendit use?
Pyth (preferred and trusted)
Switchboard (more flexible, less battle-tested)
What is a Verified Market? Markets using Pyth oracles with validated price feeds. Only one Verified Market per asset is allowed to concentrate liquidity.
How can I verify an oracle myself? Click “Market” on any pool to view its oracle address and feed ID.
Can I create my own market? Yes — anyone can create and deploy a lending market for any SPL token using Pyth or Switchboard.
Support & Help
How can I get help or ask questions?
Join the Sendit community on Discord or Telegram
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