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What is Wick?

Wick is a yield-swap protocol built on Solana by Lantern. It lets you deposit SOL and receive your staking yield in a token of your choice, like USDC, USDT, CRT, or HYPE.

Here's the basic idea: when you deposit SOL into Wick, your SOL gets staked through Lantern's validator (via the lanternSOL liquid staking token). The staking rewards that accumulate over time are then converted into whichever target token you selected. Your original deposit stays intact and keeps earning, while you collect yield in the token you actually want.

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How it works

  1. You deposit SOL into Wick

  2. Behind the scenes, your SOL is converted to lanternSOL (Lantern's liquid staking token) and placed into the Wick vault

  3. As staking rewards accrue, the protocol converts them into your chosen target token

  4. You can claim your accumulated yield at any time

  5. You can withdraw your principal whenever you want

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Why use Wick?

Get yield in stablecoins. If you want exposure to SOL staking rewards but prefer receiving USDC or USDT, Wick handles the conversion for you automatically.

Pick your payout token. You're not limited to one option. You can open multiple positions with different target tokens at the same time. Maybe you want some yield in USDC and some in CRT.

Keep your principal liquid. Your deposit can be withdrawn at any time. You're not locked in. You can pull out as lanternSOL, swap to SOL instantly through Jupiter, or unstake through the stake pool (which takes until the end of the current epoch).

Single transaction deposits. The entire flow from SOL to staked position happens in one transaction. No need to manually mint lanternSOL first.

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Key concepts

lanternSOL is the liquid staking token you receive when staking SOL with Lantern's validator. It appreciates in value relative to SOL as staking rewards accrue. Wick uses lanternSOL under the hood for all deposits.

Target token is the token you want to receive your yield in. When you open a position, you pick a target token and all future yield from that position will be denominated in it.

Position is your individual deposit in Wick. Each position is keyed by your wallet and the target token you chose. If you deposit again with the same target token, it adds to your existing position rather than creating a new one.

Claimable yield is the amount of target tokens that have accumulated in your position and are ready to be claimed to your wallet.

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