Yield Stripping SDK

Set up the Exponent Core SDK and walk through its complete lifecycle, from stripping yield assets into PT and YT, to collecting yield, and merging back.

Installation

yarn add @exponent-labs/exponent-sdk

npm install @exponent-labs/exponent-sdk

pnpm add @exponent-labs/exponent-sdk

Setup

import { Vault, YtPosition, LOCAL_ENV } from "@exponent-labs/exponent-sdk";
import {
  Connection,
  PublicKey,
  Transaction,
  sendAndConfirmTransaction,
  Keypair,
} from "@solana/web3.js";

const connection = new Connection("https://api.mainnet-beta.solana.com");
const wallet = Keypair.fromSecretKey(/* your keypair */);
const vaultAddress = new PublicKey("...");

const vault = await Vault.load(LOCAL_ENV, connection, vaultAddress);

Initialize a Yield Position

Before stripping, create a YieldTokenPosition account for your wallet. This is a one-time setup per vault.

YT is just an SPL token — the protocol can’t track yield for tokens sitting in your wallet. The YieldTokenPosition account escrows your YT and records the SY exchange rate at entry, which is needed to compute earned yield. ixStripFromBase automatically deposits YT into this position, so it must exist before stripping.

const initIx = vault.ixInitializeYieldPosition({
  owner: wallet.publicKey,
});

const tx = new Transaction().add(initIx);
await sendAndConfirmTransaction(connection, tx, [wallet]);

Strip Base Tokens into PT and YT

Use ixStripFromBase to convert a base asset directly into PT and YT. This wraps the base into SY, strips it into PT and YT, and deposits the YT into your yield position in a single atomic instruction.

const ix = await vault.ixStripFromBase({
  owner: wallet.publicKey,
  amountBase: 1_000_000n, // e.g. 1 USDC (6 decimals)
});

const tx = new Transaction().add(ix);
await sendAndConfirmTransaction(connection, tx, [wallet]);

const ytPosition = await YtPosition.loadByOwner(
  LOCAL_ENV,
  connection,
  wallet.publicKey,
  vault,
);

If you already hold SY tokens, use vault.ixStrip() instead. It skips the base-to-SY wrapping step, but does not auto-deposit YT. In that case, call ytPosition.ixDepositYt() separately.

Stage Yield

Before collecting, stage yield. This computes earned interest and emissions based on the current SY exchange rate.

const stageIx = ytPosition.ixStageYield({
  payer: wallet.publicKey,
});

const tx = new Transaction().add(stageIx);
await sendAndConfirmTransaction(connection, tx, [wallet]);

Collect Interest

After staging, collect earned interest, which is paid in SY tokens.

const collectIx = ytPosition.ixCollectInterest({
  signer: wallet.publicKey,
});

const tx = new Transaction().add(collectIx);
await sendAndConfirmTransaction(connection, tx, [wallet]);

Withdraw YT

Before merging, withdraw YT from the yield position back to your wallet. The merge instruction burns YT directly from your token account.

const withdrawIx = ytPosition.ixWithdrawYt({
  amount: 1_000_000n, // amount of YT to withdraw
});

const tx = new Transaction().add(withdrawIx);
await sendAndConfirmTransaction(connection, tx, [wallet]);

Merge PT and YT Back to Base

When you’re ready to exit, merge PT and YT back into the base asset.

const { ixs, setupIxs } = await vault.ixMergeToBase({
  owner: wallet.publicKey,
  amountPy: 1_000_000n, // amount of PT & YT to merge
});

const tx = new Transaction().add(...setupIxs, ...ixs);
await sendAndConfirmTransaction(connection, tx, [wallet]);

Reading State

Query vault and position state without sending transactions:

// Current SY exchange rate
const rate = vault.currentSyExchangeRate;

// Vault expiration
const expiresAt = vault.expirationDate;

// Claimable interest (in base token units)
const claimable = ytPosition.getClaimableInterest(rate);

// Claimable emissions
const emissions = ytPosition.getClaimableEmissions();

Next Steps

Vault Instructions

TypeScript SDK instruction functions for Exponent Core

YtPosition Instructions

TypeScript SDK instructions for managing yield positions

Read Functions

Read functions available for querying Core market state without submitting transactions.

Exponent Core

Order Book

CLMM

Installation

Setup

Reading State

Next Steps

Vault Instructions

YtPosition Instructions

Read Functions

​Installation

​Setup

​Reading State

​Next Steps

Vault Instructions

YtPosition Instructions

Read Functions

Installation

Setup

Reading State

Next Steps