24h Change-6.1%
All Time HighJan 19, 2025$293.31
All Time LowMay 11, 2020$0.5
Market Cap$40.62b
Fully Diluted Valuation$44.076b
Circ. Supply578.44m SOL
Outstanding FDV$50.715b
CEX Volume$2.461b
DEX Volume$1.356b
ICO · Mar 26, 2020$1.76m
ICO · Jun 9, 2021$314m
How much debt can be issued against SOL as collateral across lending protocols.
Maximum possible exposure to SOL
$4.95m
$3.11m (max additional borrows against SOL) + $1.84m (bad debt if SOL was hacked now)
Venus Core Pool
$2.84m at-risk exposure = $63,296 bad debt if hacked + $2.78m additional borrowable against SOL
Morpho V1
$2.11m at-risk exposure = $1.78m bad debt if hacked + $331,475 additional borrowable against SOL
Showing collateral exposure for SOL on onchain. Max Borrowable uses the backend's liquidity-bounded borrow-capacity metric (`collateralMaxBorrowUsdLiquidity`) for the maximum additional USD debt that can be issued against the asset right now. Bad Debt at $0 is the minimum known bad debt if the collateral asset price goes to zero; null rows are excluded from this total rather than treated as zero, so totals may remain lower bounds.
Each row is one protocol-chain exposure for SOL as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.
Protocol | Chain | |||
|---|---|---|---|---|
SOL0x570a5d26f7765ecb712c0924e4de545b89fd43df | $2.78m | $63,296 | ||
SOL0x311935cd80b76769bf2ecc9d8ab7635b2139cf82 | $331,474 | $1.78m | ||
SOL0xea17e5a9efebf1477db45082d67010e2245217f1 | $1.14 | $252.18 |
Risk-management actions published about SOL by tracked risk managers and governance contributors, newest first.
SOL's historical drawdowns, including a 22.2% drop in October 2025, fit within the proposed 72% LTV and 75% LLTV buffer for 1-4 hour liquidation latencies, backed by dual Pyth and Chainlink oracle coverage that remained live during stress. As the sole volatile collateral, it enables delta-neutral positioning for Ethena's spot SOL holdings.
SOL dipped to $77 during the 48-hour Drift exploit and UXD stress window, contributing to four large SOL/USDC liquidations totaling $137K seized. Overall SOL supply contracted 6.1% amid DeFi-wide deleveraging, but liquidations were contained without bad debt.
Drift exploit's fund drains impacted SOL fixed deposits in Elemental DeFi, with approximately $2.7M affected due to the protocol's reliance on Drift for yield generation in borrow/lend integrations.
SOL supply fell 37.3% in USD terms due to a 27.6% price drop from $104 to $81, compounded by $49M in net token outflows as users withdrew during the February 4-6 crash that triggered widespread liquidations. Debt contracted 32.8% in USD but only 7.2% in native SOL terms, reflecting deleveraging amid the two-phase correction.
SOL-denominated supply contracted in USD terms due to 10.4% price decline from $125 to $112, triggering 13,435 liquidations with zero bad debt during the January 29-31 crash.
SOL price dropped 18% from $92 to $76 during the February 5-6 market correction, triggering $4.67M in SOL/USDC liquidations and $6.89M total SOL collateral seized across pairs. The protocol handled all 27,845+ liquidations efficiently with no bad debt generated.
SOL's 35% price decline from $192 to $134 correlated with protocol liquidity swings and triggered major liquidations totaling $87M across three events, underscoring volatility risks despite nominal supply growth and high utilization (80-90%) from leveraged staking strategies.
SOL debt rose $12M (3.56M SOL) as users leveraged up at lower price points during the 7% drawdown, with supply holding steady at 4.28M SOL and utilization climbing to 83.2% reflecting sticky demand.
SOL experienced a 29% price drawdown to $134, triggering widespread deleveraging with supply and debt contracting 19% and 18% respectively, alongside $16.5M in liquidations across 9,634 events. Stress tests show resilience with zero bad debt even in real-world 23% drawdowns, far below projected risks in -20% shocks.
SOL joins other large-cap assets as acceptable collateral in Spark Prime, supporting hedged portfolio financing with constraints on venues and exposure limits to mitigate counterparty risks.
An is required to view token usage.
An is required to view token liquidations.
An is required to view token unlocks.
Showing 10 of 1448 pools
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabSOL-USDCCL10 - 0.035% | $284,926 | 5021% | 1465% | ||||||
| open in new tabSOL-CBBTCCL10 - 0.035% | $279,431 | 547% | 372% | ||||||
| open in new tabXAI-WSOLStandard - 0.25% | $149,658 | 652% | 652% | 414% | |||||
| open in new tabSPACEX-WSOLStandard - 0.25% | $132,372 | 645% | 645% | 360% | |||||
| open in new tabSPACEX-WSOLStandard - 0.25% | $124,394 | 663% | 663% | 430% | |||||
| open in new tabSPACEX-WSOLStandard - 0.25% | $116,198 | 725% | 725% | 439% | |||||
| open in new tabWSOL-BRCAStandard - 0.3% | $44,921 | 617% | 67.99% | 549% | 1028% | ||||
| open in new tabSOL-GRASS | $27,441 | 577% | 577% | 174% | |||||
| open in new tabWSOL-100MStandard - 4% | $25,675 | 828% | 828% | 799% | |||||
| open in new tabAC-WSOLStandard - 0.25% | $21,853 | 5170% | 5.20% | 666% |
Showing 10 of 5957 routes
Pool | Project | Chain | |||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabSOL ➞ DAI | $7.98m | 802% | 802% | 0% | 75% | $126,623 | $126,623 | ||
| open in new tabSOL ➞ DOGE | $6.61m | 802% | 802% | 0% | 75% | $126,623 | $126,623 | ||
| open in new tabSOL ➞ SPYX | $1.7m | 802% | 802% | 0% | 75% | $126,623 | $126,623 | ||
| open in new tabSOL ➞ TRX | $842,415 | 802% | 802% | 0% | 75% | $126,623 | $126,623 | ||
| open in new tabSOL ➞ FLAME | $798,310 | 802% | 802% | 0% | 75% | $126,623 | $126,623 | ||
| open in new tabSOL ➞ TPX | $394,473 | 802% | 802% | 0% | 75% | $126,623 | $126,623 | ||
| open in new tabSOL ➞ POLIS | $1 | 802% | 802% | 0% | 75% | $126,623 | $126,623 | ||
| open in new tabSOL ➞ USDC | $0 | 802% | 802% | 0% | 75% | $126,623 | $126,623 | ||
| open in new tabSOL ➞ USDC | $0 | 802% | 802% | 0% | 75% | $126,623 | $126,623 | ||
| open in new tabSOL ➞ USDC | $0 | 802% | 802% | 0% | 75% | $126,623 | $126,623 |
