One leveraged account across Save and Orca.
Borrow USDC into an account the program controls. It lends on Save and provides liquidity on Orca at the same time, and its health is one number, checked on the whole account at the end of every transaction.
Example account: 12,000 USDC posted, 18,000 borrowed, and the owner’s own SOL beside the LP. Each shape is filled as far as it counts.
Or drag sideways across the positions.
10,000 + 1,275 + 10,500 + 0 = 21,775 ÷ 18,000 debt = 1.20Cash counts in full, Save 85% of what its reserve could pay out now, the LP 70% of its USDC side, SOL nothing. Moves must end at or above 1.10; below 1.00 anyone can liquidate.
Why one account
A lender counts only what it holds.
Split across products, each position is checked alone. When SOL falls, the LP vault sees its LP shrink against its own debt and liquidates it. The cash and the Save deposit can’t help: the vault has no claim on them.
Yoke holds the same positions in one account, against one debt. The pool lent to the account, so it counts everything the account holds, each as far as it could be paid out in USDC.
SOL falls 40% again. The LP’s USDC side shrinks while cash and Save hold, and health moves from 1.20 to 1.07: under 1.10, so the owner can’t add risk, and over 1.00, so no one can liquidate.
Where the money can go
The account has four gates.
Your credit account is held by the Yoke program, not by a wallet. It holds USDC, SOL, a Save deposit and an Orca position, and money moves only through four gates, each open to a short list of actions.
Transactions
Every transaction ends with a health check.
Every change to your positions is one transaction: up to nine steps through Save and Orca, signed once. The whole account is checked after the last step. If it would finish below 1.10, the transaction fails and none of it happened. Build one on your account from the top of the page.
- beginone transaction
- Add a step
- endhealth ≥ 1.10
Health here is at today’s price. A transaction that goes through changes your account at the top of the page. In the app, the same steps run on chain, checked before you sign.
Liquidation
Below 1.00, anyone can unwind the account.
A different example: almost all of it in the Orca LP. 30,000 borrowed, health 1.17 to start. Every percent SOL falls takes USDC out of the LP’s counted side.
At SOL −29% health crosses 1.00. The owner can still repay, and anyone can now liquidate.
The liquidator goes through the same adapters in one transaction: remove the LP, repay the pool, keep 5% of what was repaid. The SOL and the rest of the USDC stay in the account.
Liquidator’s transaction
- Liquidator signs
- Remove the Orca LP+41,288 USDC
- Repay the pool−30,000
- 5% to the liquidator−1,500
- Left for the owner10,788 + the SOL
- Pool, repaid in full
- 30,000
- Liquidator, 5% of the repayment
- 1,500
- Owner keeps, with the SOL
- 10,788
Example numbers. A liquidation can also take part of an account, as long as what’s left is no less healthy than before.
Lenders
Lenders fund one USDC pool and pick no positions.
Lenders deposit USDC for pool shares, and every credit account borrows from that pool. The rate follows how much of the pool is lent out, and all of the interest goes to lenders: Yoke takes no cut.
Lenders carry the borrowers’ risk. Debt an account can’t repay in full lowers the pool’s value for every share. Withdrawals need cash in the pool; what’s on loan comes back as borrowers repay.
The pool’s curve, fixed when the pool was created. X axis: share of the pool lent out. Y axis: yearly rate.
| Lent out | Borrowers pay | Lenders earn |
|---|---|---|
| 20% | 4.0% | 0.8% |
| 50% | 7.0% | 3.5% |
| 80% | 10.0% | 8.0% |
| 90% | 20.0% | 18.0% |
| 100% | 30.0% | 30.0% |