Introduction

Nolus is a spot margin protocol on Solana with fixed-rate loans. A user puts down a payment, Nolus lends the rest from a lending pool, and the position holds the real asset on Solana. Because the loan rate is fixed when the position opens and stays fixed until it closes, the cost of leverage does not move with the market.

Behind the markets is a set of protocol contracts, with one contract for each position, one lending pool for each market, an oracle for prices and a registry that lists the contract addresses of every protocol. These contracts run on Nolus, which is deployed on a purpose-built, semi-permissioned ledger, and the architecture page describes how they fit together.

The loans that positions take come from the lending pools, where lenders deposit the pool currency and receive nLPN pool shares in return. Through those shares, lenders earn the loan interest that positions pay.

Solray, the Nolus program on Solana, activates the Nolus money market there using IBC channels and architecture. Tokens stay on Solana while Nolus works with receipts for them, and Solray holds each position's assets in a dedicated Solana account and runs its swaps through Metis, Jupiter's routing engine.

Users therefore work entirely from a Solana wallet. They connect Phantom or Solflare in the app, and because their Nolus account is derived from the same Solana key, the Solana wallet also signs their Nolus transactions.

What you can do with these docs

With these docs, developers and integrators can work with the protocol directly:

• Read live protocol state, such as contract addresses, pool rates, prices and positions, through smart queries.
• Build the exact JSON messages that open, repay and close a position, or that deposit into and withdraw from a pool.
• Follow how a position's tokens stay on Solana while Nolus works with receipts for them.
• Pull historical and aggregated data from the public APIs.

Where to start

The protocol overview is the best first read, and the other pages below go deeper into positions, lending, Solray and the public APIs.