How jolt works.

Overview

The metaphor is a jump start. The project is a pool with a dead battery: almost no depth, so a 10 SOL buy moves price by a third. LPs are the donor. A jolt touches their SOL to the pool for a fixed term, and the probes lift off once the pool catches, meaning organic depth can hold it without help.

Everything runs through a Solana program. It escrows the rent and the cover deposit, owns the DLMM positions through PDAs, streams rent to LPs, and enforces the safety rules. A keeper service watches price and depth and calls the program when something has to move.

Roles

Terms

• Jolt. One rental contract.
• Cables. The LP positions inside a jolt.
• Voltage. The rent APR.
• Capacitor. The project's cover deposit. It pays LPs on loss or fault.
• Fuse. The safety trigger. When it blows, LPs exit and the capacitor pays out.
• Turnover. Graduation, when organic depth is enough to carry the pool.

Split sides on Meteora DLMM

Each side supplies one asset. LPs supply SOL only, placed in bins below the active price as bid support. The project supplies its token only, placed in bins above price as ask depth.

JOLT uses DLMM rather than DAMM v2 because depth is the thing being rented. Bins put the SOL close to price where it reduces slippage, and they give the keeper a concrete position to move. When price climbs away from the SOL bins, the keeper recenters them under the new price.

The LP risk is specific: if price falls through the bid bins, LP SOL converts into a falling token. The capacitor exists to cover exactly that, up to its cap.

Lifecycle

1. Post

The project picks the token, the target depth (such as 300 SOL within 10% of price), a term between 7 and 30 days, and a turnover target. It prepays the rent and funds the capacitor (15% of depth by default) into escrow, then deposits its token side, which stays locked for the term.

Eligibility checks run first: mint and freeze authority must be revoked, holder concentration must sit under a limit, and the pool must meet a minimum age.

2. Charge

The rent rate starts low and rises every hour until the jolt is filled, a reverse Dutch auction. Each LP receives a receipt NFT for its position.

3. Live

The program owns the DLMM positions. Rent streams continuously and is calculated at claim time. LPs keep their trading fees. The keeper recenters the SOL bins when price moves up.

4a. Turnover

When organic depth, meaning depth not provided by JOLT, stays above the target for 24 hours, the jolt ends early. Half of the unused rent is paid to LPs as a bonus and the rest is refunded to the project. The capacitor is returned.

4b. Term end

Positions close. LPs receive their SOL plus any token their bins absorbed. The capacitor covers losses up to its cap and the remainder returns to the project.

4c. Fuse blows

If price falls below the floor, the token side is pulled, or a dev wallet dumps, LPs exit immediately and the capacitor pays them pro rata.

Worked calculation

300 SOL of depth for 14 days at 40% APR gives 4.60 SOL of rent. The capacitor is 45 SOL, covering up to a 15% loss. The protocol takes 0.46 SOL plus a 0.50 SOL listing fee.

Safety and risk score

Three layers protect LPs. The capacitor is a deposit that pays LPs first. The fuse pulls every LP out at once when a trigger fires. The risk score lets LPs judge a jolt before joining.

The score combines:

• Cover ratio, the capacitor divided by depth
• Holder concentration
• Whether mint and freeze authority are revoked
• Dev wallet activity
• The project's history on JOLT

Fees

The protocol keeps 10% of rent and charges a 0.50 SOL listing fee per jolt. LPs keep 90% of streamed rent and all trading fees from their bins. There is no fee on the capacitor; it is returned unless it pays out.

Architecture

• Anchor program. Escrow, program owned DLMM positions through CPI, rent streaming, capacitor, fuse and turnover.
• Keeper worker. Rebalancing, fuse checks and turnover checks over Helius RPC.
• App. A Next.js front end with an indexer for jolts, positions and history.

Roadmap and audit

1. Core. Post, deposit, PDA owned DLMM bins, rent stream, close and settlement.
2. Safety. Capacitor, a price fuse on the DLMM oracle TWAP, turnover and keeper rebalancing.
3. Audit. The program holds user funds, so an external audit and a multisig upgrade authority come before launch.
4. Market. The rising rate auction, risk scores, tradable receipts and reputation.

Prior art

Tokemak ran a liquidity direction market on Ethereum. Meteora farms reward LPs on Solana, but they have no cover, no fixed term and no graduation. JOLT adds all three: a funded capacitor, a term that the project prepays, and turnover once organic depth holds.