
## Overview

The Solana DeFi Handbook provides a thorough introduction to decentralized finance on Solana, explaining both the concepts and technical implementation details. This resource is ideal for developers and protocol designers looking to understand or build DeFi applications on Solana's high-performance blockchain.

The handbook covers:
- Core DeFi primitives on Solana
- Automated market makers, liquidity pools, and orderbooks
- Lending and borrowing protocols
- Staking and yield farming strategies
- Tokenomics design principles
- DeFi protocol security considerations

Unlike Ethereum-based DeFi, Solana's low transaction costs and high throughput enable more capital-efficient protocols with different design considerations, which this handbook thoroughly explores. 

A comprehensive guide to understanding and building on Solana's DeFi ecosystem, covering AMMs, lending protocols, yield farming, and tokenomics.

Solana DeFi Handbook


This workshop from PwnedNoMore examines the infamous Cashio protocol exploit that resulted in millions of dollars in losses. By recreating a simplified version of the vulnerability, you'll understand the critical security flaw that led to the hack.

## Workshop Content

- Step-by-step recreation of the Cashio protocol exploit
- Detailed explanation of account validation vulnerabilities
- Hands-on exercises to understand signature verification issues
- Analysis of how proper security checks could have prevented the exploit

The workshop provides valuable insights for Solana developers working on DeFi protocols, highlighting the importance of proper account validation and the risks of insufficient security checks in financial applications. 

Learn about the famous Cashio exploit that led to millions in losses, through a step-by-step workshop recreating the vulnerability.

Cashio Exploit Workshop


The Pool challenge simulates vulnerabilities in DeFi liquidity pool contracts on Solana. This advanced challenge tests your understanding of complex financial protocols and their potential security weaknesses.

## Challenge Goals

- Understand DeFi liquidity pool implementations on Solana
- Identify security vulnerabilities in complex financial protocols
- Learn about mathematical and logical exploits in financial systems
- Develop skills for auditing sophisticated DeFi applications

Originally presented at Paradigm CTF, this challenge reflects the complexity of real-world DeFi protocols and the security considerations they require. It's particularly valuable for developers working on financial applications in the Solana ecosystem. 

A complex Solana DeFi contract exploitation challenge focusing on liquidity pool vulnerabilities.

Pool


This course is for students wishing to explore blockchain technology’s potential use—by entrepreneurs & incumbents—to change the world of money and finance.

Kicking off with a review of the technology’s initial application, the cryptocurrency Bitcoin, students will gain an understanding of the commercial, technical and public policy fundamentals of blockchain technology, distributed ledgers and smart contracts in both open sourced and private applications.

The class will then turn to current and potential blockchain applications in the financial sector. This will include reviews of potential use cases for payment systems, central banking, venture  capital, secondary market trading, trade finance, commercial banking, post trade possessing and digital ID.

Along the way, we will explore the markets and regulatory landscape for cryptocurrencies, initial coin offerings, other tokens and crypto derivatives.

This course is for students wishing to explore blockchain technology's potential use—by entrepreneurs and incumbents—to change the world of money and finance.

Blockchain and Money


The purpose of this class is to bring together students and interdisciplinary experts in Computer Science and Finance to discuss the emerging area of Decentralized Finance (or DeFi). DeFi has experienced an unprecedented growth, with hundreds of projects and a countless stream of financial, distributed systems, and blockchain innovations. The total value locked (TVL) in decentralized finance — a measure of the total value of assets committed to the DeFi ecosystem — has reached over $80 billion. When compared to the traditional centralized finance (CeFi), DeFi offers products and services serving similar financial goals, but critically innovates with novel capabilities such as instantaneous multi-billion USD flash loans. By utilizing blockchain and smart contract technologies, DeFi as a whole aims to provide a new platform for programmable, automated finance services that remove the reliance on central trust and intermediaries.

Our goal is to provide a framework to understand this new area of financial services. For each finance function, we will consider 1) the current intermediated structure, and then b) the DeFi version (actual or proposed) that fulfills the function. Is either one of these optimal? We will evaluate both through the lens of CS and finance. Is the application computable (efficiency, decidable), programmable (automatic)? Is the application welfare-enhancing and stable (not a source of systemic risk). How do the new and old systems interact? We aim for the students to be able to critically evaluate whether a new DeFi protocol is novel and practical. We further will capture the security danger in DeFi, as well as their impact on the underlying consensus security. Lastly, we hope to give an insight into how to program and structure secure and incentive-compatible DeFi applications.

Through the exposure to cutting-edge research as well as remaining open challenges, we hope for our students to quickly integrate into academic as well as industrial projects related to DeFi.

Summarizing, we will cover a broad spectrum of topics, including:

- A comprehensive introduction covering a computer science and finance background required for the remainder of the course. We will discuss the basics of decentralized systems, permissionless blockchains, consensus, smart contracts and contrast DeFi to traditional finance.

- We will cover the computer science and economic aspects of DeFi assets, and how they link to CeFi through stablecoins. The course will elaborate on DeFi asset exchanges and contrast the traditional limit order book models to automated market makers. Just like in CeFi, debt and derivatives play a fundamental role in DeFi. We’ll dive into the various debt models, such as under- and over-collateralized debt, as well as synthetic assets in DeFi. Insurances, portfolio management and prediction markets form equally crucial elements to a decentralised economy as we will elaborate on. Last but not least, we will show different attempts at measuring and tracking systemic risk and its computability.

- To link blockchains with financial information from the real-world, we will provide a deep-dive into oracles. We will discuss decentralized reputation, identities and proof of properties. Because most DeFi is transparently readable, including transaction amounts, fees, dates/times, etc, privacy plays an increasingly important role in DeFi. We will cover various privacy technologies including zero-knowledge proofs and their applications in DeFi. We will also discuss various attempts at how to enforce data ownership, data monetization and valuation as well as controlled use and misuse of data.

- A digital economy would not thrive without strong security. We will outline the many past security attacks, introspect a few of them in closer detail and provide recommendations on how to strengthen DeFi security. We will discuss the systemic risks stemming from Miner Extractable Value (MEV) and how MEV can be minimized by design. Decentralized governance provides power to a pseudonymous collective, and we will explore how governance works, and how it may be attacked.


The purpose of this class is to bring together students and interdisciplinary experts in Computer Science and Finance to discuss the emerging area of Decentralized Finance (or DeFi).

DeFi MOOC


Token engineering is the design, verification and optimization of token-based economic systems.
It is a cross-disciplinary field that draws from established practices in systems, electrical, robotics & controls engineering, and more. It also draws from fields as diverse as behavioural & ecological economics, operations research, AI & optimization, and others.

It is a methodology that goes all the way from ideation to design, modelling, simulation, testing, deployment, fraud detection & defense, and continuous optimization.

Study, contribute to open-source knowledge & tools, and apply your skills to solve the most exciting challenges in Web3.

Token Engineering Academy


We launched this effort with a focus on enabling the entire user base, with its wide range of talents, to contribute those skills to the protocol in their own ways-whatever those ways are! Our approach to achieving that goal is to offer users the option to apply for Micro Grants in addition to proposals that require much more attention. These will serve as the on-ramp for the less involved, smaller budget proposals in an effort to be accessible by the entire userbase.

The PoolTogether grants committee “Community Led, Community Focused.”

PoolTogether Grants


This is a video from Rekt, the dark web of DeFi journalism.


A dystopian view of the new financial world emerging from crypto

Hopium Diaries


## Overview

The Solana Podcast provides in-depth discussions with the ecosystem's leading builders and thinkers. Episodes cover technical deep dives, project announcements, ecosystem trends, and the future of Solana development.

Recent episodes have featured conversations about Solana's performance optimizations, mobile development, NFT innovations, DeFi protocols, and developer tooling. The podcast is an excellent resource for staying up-to-date with Solana's rapidly evolving ecosystem. 

Official Solana ecosystem podcast featuring interviews with builders, founders, and innovators in the Solana community.

The Solana Podcast


The bi-weekly podcast where our host DeFi Dave talks to industry leaders about everything DeFi and beyond.

The DeFi Scoop

Spark is a decentralized non-custodial liquidity market protocol where users can participate as suppliers or borrowers. 

Unveiling the Power of Spark Protocol: A Comprehensive Review


## Overview

Yield-bearing vaults are fundamental DeFi primitives that allow users to deposit tokens and automatically earn returns. This tutorial walks through implementing such vaults on Solana.

Key topics covered:

- Understanding Solana's token vault architecture and the SPL Vaults program
- Implementing deposit/withdrawal mechanics with proper share calculations
- Adding yield strategies by integrating with lending protocols and stake pools
- Managing slippage and fees for optimal returns
- Implementing automatic compounding through Clockwork automation
- Security considerations for vault programs

This guide is essential for DeFi developers looking to build composable yield products on Solana, whether for staking rewards, lending interest, or LP fee accumulation. 

Learn how to create token vaults on Solana that automatically compound yield from staking, lending, and other DeFi protocols.

Building Yield-Bearing Token Vaults on Solana


## Overview

In this tutorial, you'll learn how to integrate with the Orca DEX on Solana. We'll walk through creating a basic integration that performs token swaps using Orca's concentrated liquidity pools.

Here's what we'll accomplish:

- Set up a development environment for Solana and Orca integration
- Run a local Solana validator for testing
- Write code to perform token swaps on Orca using TypeScript SDK
- Test your integration against Devnet

This guide is perfect for developers who want to add DeFi functionality to their Solana applications. 

Learn how to integrate with Orca, one of Solana's leading decentralized exchanges. This guide walks you through setting up a development environment and creating your first swap integration.

Building Your First Orca DEX Integration on Solana


## Overview

Jupiter is Solana's primary swap aggregator, routing trades through all available liquidity sources to find the best prices. This tutorial shows you how to integrate Jupiter into your Solana applications for token swaps.

Key topics covered:

- Setting up the Jupiter SDK in your TypeScript application
- Fetching token information and available routes
- Executing swaps with the best routing
- Building a simple swap interface with price quotes
- Handling slippage and transaction confirmation
- Working with Jupiter's V6 API for advanced use cases
- Integrating limit orders and dollar cost averaging (DCA)

Jupiter processes over 10 million transactions weekly and handles a significant portion of all Solana DEX volume. By integrating Jupiter into your application, you'll provide users with the best possible swap experience, accessing deep liquidity across the entire Solana ecosystem. 

Learn how to integrate Jupiter, Solana's leading swap aggregator, into your DeFi applications for optimal token swaps across all Solana liquidity sources.

Building DeFi Applications with Jupiter Swap SDK


Imagine the following scenario: you just found a critical vulnerability that allows funds in a smart contract to be drained. The exploit, however, is complicated and requires multiple payload parameters to be set correctly for it to be effective or even profitable at all.

It quickly turns out that calculating optimal parameters by hand is infeasible, due to the complex nature of the exploit. And yet, you want to responsibly disclose a Proof of Concept (PoC) that maximizes the amount of funds that can be drained from the contract. Why? Because it’s often true that the greater the funds at risk, the higher the bug bounty reward.

In such a situation, linear programming can be an exceptionally helpful tool. This is an advanced tutorial for whitehats who are looking to take their hacking skills to the next level.

How to Get a Bigger Bounty by Optimizing Attack Parameters

Optimizing Attack Parameters


## Overview

Privacy is a fundamental need for many blockchain applications. This tutorial explores how to implement private transactions on Solana using zero-knowledge proofs and shielded pool designs.

Key topics covered:

- Introduction to privacy primitives on Solana
- Understanding shielded pool architecture 
- Implementing deposit and withdrawal functions with ZK proofs
- Managing nullifiers to prevent double-spending
- Creating and verifying zero-knowledge proofs on Solana
- Building a private transaction interface with TypeScript
- Balancing privacy with compliance requirements

Solana's performance characteristics enable privacy solutions that would be too expensive on other chains. This tutorial demonstrates how to build robust privacy-preserving payment systems and applications while leveraging Solana's speed and cost advantages. 

A step-by-step guide to implementing confidential token transfers and transactions on Solana using zero-knowledge proofs and shielded pools.

Building Private Transactions on Solana with Zero-Knowledge


## Overview

As blockchain ecosystems evolve, the ability to build applications that span multiple chains becomes increasingly important. This tutorial explores how to connect Solana with other blockchains to create truly interoperable applications.

Key topics covered:

- Understanding cross-chain messaging and token bridging
- Working with Wormhole for secure cross-chain communication
- Implementing token bridges to move assets between Solana and other chains
- Building applications that leverage multiple blockchain ecosystems
- Security considerations for cross-chain applications
- Testing and debugging cross-chain interactions
- Cross-chain composability patterns and best practices

This guide is essential for developers looking to expand beyond a single blockchain ecosystem and tap into the unique strengths of multiple networks. You'll learn how to leverage Solana's speed and cost-efficiency while maintaining connections to other major blockchains and their ecosystems. 

Explore how to build applications that connect Solana with other blockchains using bridges, wormhole, and cross-chain messaging protocols.

Cross-Chain Development with Solana: Bridges and Interoperability


## Overview

Solana's high throughput and low transaction costs make it an ideal platform for DeFi applications. This guide explores the fundamentals of building decentralized finance protocols on Solana.

Key topics covered:

- Designing token economics and protocol incentives
- Implementing automated market makers (AMMs) and liquidity pools
- Building lending and borrowing protocols with interest models
- Creating staking and yield farming mechanisms
- Managing protocol fees and treasury operations
- Implementing governance mechanisms for protocol parameters
- Security considerations for financial applications
- Testing and simulation for DeFi protocols

Solana's unique capabilities enable DeFi protocols that would be impractical on other chains due to gas costs. This guide provides the architectural patterns and implementation details needed to build secure, efficient financial applications that can scale to millions of users. 

A comprehensive guide to developing decentralized finance protocols on Solana, covering AMMs, lending platforms, staking, and yield farming implementations.

DeFi Programming on Solana: Building Financial Protocols


## Overview

Staking is the process of locking up SOL tokens to help secure the Solana network through the proof-of-stake consensus mechanism. In return, stakers earn rewards generated from transaction fees and inflation. This comprehensive guide covers everything you need to know about staking on Solana.

Key topics covered:

- Understanding Solana's proof-of-stake consensus and validator roles
- Creating and managing stake accounts
- Choosing validators based on performance and commission rates
- Delegation strategies for maximizing returns
- The staking lifecycle: warmup, active stake, cooldown, and withdrawal
- Options for liquid staking with protocols like Marinade, Lido, and Jito
- Using stake pools to diversify your validator selection
- Tax implications and tracking stake rewards

Whether you're staking directly through a wallet like Phantom or using a liquid staking solution, this guide will help you make informed decisions to optimize your staking experience on Solana. 

Learn how to stake SOL tokens to secure the Solana network and earn yield, including choosing validators, managing stake accounts, and delegation strategies.

Complete Guide to Staking SOL


## Overview

Token Extensions, part of the SPL Token program, offer enhanced functionality for tokens on Solana. This official guide introduces developers to these new capabilities, enabling more complex and customizable token behaviors.

Key learning points:
- Understanding the architecture of Token Extensions.
- How to initialize new mints with various extensions (e.g., transfer fees, interest-bearing, non-transferable).
- Practical examples of using extensions like metadata pointers, permanent delegates, and mint close authority.
- Interacting with tokens that have extensions enabled.

This tutorial is vital for developers working with fungible or non-fungible tokens on Solana who want to utilize the latest features for advanced tokenomics and control. 

Explore the new Token Extensions on Solana. This guide covers creating custom tokens, managing them, and leveraging advanced features like transfer hooks and metadata pointers.

Creating and Interacting with Tokens using Token Extensions


## Overview

Maximal Extractable Value (MEV) works differently on Solana compared to Ethereum due to fundamental differences in the blockchains' architectures. This guide explains how validators and extractors operate on Solana, the role of priority fees, and how developers can build applications that remain robust in this environment.

Key topics covered:

- How the Solana transaction processing flow enables different MEV extraction mechanisms
- The rise of Jito and MEV extraction infrastructure on Solana
- Priority fee markets and their impact on transaction ordering
- How developers can design applications that minimize MEV vulnerability
- Comparing Solana's MEV landscape with Ethereum's

This tutorial is essential for DeFi developers working on Solana who want to understand the economic implications of their protocol design. 

This tutorial explores Maximal Extractable Value (MEV) on Solana, how it differs from Ethereum, and the implications for users and developers.

Understanding MEV and Validator Extraction on Solana


DeFi is one of the most interesting and fastest growing movements with an amazing potential of completely disrupting traditional finance. Although I believe DeFi is the future, it can be quite difficult for newcomers as it combines a lot of elements from two poorly understood subjects: finance and technology. I started Finematics to make it easier to understand this new, fascinating world.

Educational videos on DeFi (Decentralized Finance).

#defi

📚 Solana DeFi Handbook

🏆 Cashio Exploit Workshop

🎓 Blockchain and Money

🎓 DeFi MOOC

📺 Finematics