Stipend

How Stipend works

The token

Each Stipend LST is a standard SPL stake pool token. The pool delegates everything to Solana Compass and keeps 100% of the staking reward as its epoch fee, so one LST is always redeemable for one SOL and the token never appreciates. That is the point: the yield leaves the pool as SOL every epoch and comes back to you as the asset the LST is named after.

Every epoch

  1. The pool is updated and the epoch’s reward, minted to the pool as LST, is redeemed for SOL from the reserve.
  2. The platform fee is taken (see below).
  3. Every wallet holding the LST is snapshotted at that moment. Only wallet balances count; LST sitting in a DEX pool or a lending market earns nothing until we add look-through for that venue.
  4. The remaining SOL is swapped into the asset on Jupiter, in one fill for the whole pool.
  5. The asset is transferred to each holder in proportion to their snapshot balance. If a wallet has no token account for the asset, Stipend creates one and pays the rent.
  6. Amounts below the minimum payout are carried in a ledger and paid once they clear it.

The snapshot, the fill, and every transfer are recorded and shown on the Stats page and on each LST’s Epochs table, so anyone can rebuild the split from public data.

Yield

The number shown everywhere on the site is the validator’s staking yield net of the platform fee. It is derived from the live inflation rate divided by the share of SOL that is staked, compounded per epoch, plus MEV. Solana inflation falls about 15% a year until it reaches 1.5%, so the SOL yield declines over time; the Calculator models that. The quantity of the asset you receive also moves with the SOL and asset prices at each epoch’s fill.

Fees

Platform fee
15% of each epoch’s yield. It funds the swaps, the payout transactions, and the token accounts Stipend creates for new holders.
Deposit (SOL)
0%
Deposit (stake account)
0%
Redeem to SOL
0.1% of the amount. This is what stops someone minting just before a snapshot and redeeming just after: a day of yield is far less than the fee.
Withdraw as stake
0.1%

Redemptions to SOL come from the pool reserve. If the reserve is short, redeem less, wait for the next rebalance, or sell the LST on a DEX at 1:1.

Programs and keys

Stake pool program
SPoo1Ku8WFXoNDMHPsrGSTSG1Y47rzgn41SLUNakuHy
Validator
EARNynHRWg6GfyJCmrrizcZxARB3HVzcaasvNa8kBS72

Stipend runs no custom on-chain program. Your SOL sits in the SPL stake pool program; the pool manager can change fees within the program’s limits but cannot touch principal. Each LST’s addresses are listed on its page.