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Crypto is the largest source of funding-rate yield in finance. Historically, perpetual funding has paid double-digit APY to whoever is willing to sell leverage. And yet the people who actually benefit are centralized desks, off-shore market makers, and a small club of on-chain degens with the engineering to harvest it themselves. Kimia exists to fix that.

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What we’re building

A single, composable stack on Solana that turns perpetual funding into transferable, tradable, lendable fixed income:
  • On-chain perpetuals with permissionless liquidation, Pyth Hermes pull oracles, and no privileged keepers, the yield source.
  • A delta-neutral vault that owns the hedge for you, the yield generator.
  • PT + YT tokenization so yield becomes two ERC20-style tokens you can sell, lend, or bundle, the yield distribution layer.
  • A yield-space AMM where PT and underlying trade at a price that decays into par at maturity, the fixed-rate discovery layer.
  • An intent router that guarantees the end-to-end APY you asked for, across three transactions, the UX layer.

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What we believe

Every layer is a separate Anchor program. If you only want our vault, you can take it. If you only want the AMM, you can take that. Nothing is gated behind our frontend.
Liquidation, funding, rebalancing, and reward syncs are open to any keeper. There is no whitelist. There is no privileged oracle. If it’s on-chain, it’s crankable.
Margin, funding, and yield formulas are public, auditable Rust in the perps-math and kimia-math crates. Every rounding direction is documented. There are no magic numbers.
Crypto cannot serve institutions, treasuries, or mainstream capital without a fixed-income layer. Kimia is that layer for Solana.

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Where we’re going

  • V1 (now): SOL-PERP, USDC collateral, 30-day tenors, Pyth Hermes oracles.
  • V2: Multi-asset perps, multi-collateral margining, long/short funding asymmetry, structured product building blocks.
  • V3: Institutional-grade fixed-rate desks building on top of Kimia same primitives, white-labeled UIs, regulated wrappers.

Start here

The devnet end-to-end takes 10 minutes and touches every program.