Xenon Protocol: Enjooy leveraging your portfolio across the Solana ecosystem

Xenon Protocol
4 min readJun 16, 2022


Closed Alpha Launch Announcement

Xenon is Solana’s first universal margin protocol that allows you to cross-margin your portfolio across the ecosystem. With an abundance of liquidity being locked in the form of LP positions and spot bags, we see users being limited in how efficient their capital can be. After all, it is not about size, but how you use it and that is why we give users the privilege of composable leverage to use between protocols. We also believe in the power of connectedness and are truly focused on bringing protocols together and growing the ecosystem as a whole.

“So what’s in it for users?”

For lenders, Xenon provides a central liquidity hub, which is both protocol agnostic as well as capital efficient. Since the liquidity you provide is not restricted to any single protocol and spread across the ecosystem, you can be sure to get the best rates possible. Composability => Efficiency!

For traders, Xenon provides a one-stop shop for trading across protocols whilst providing optimised strategies through which leverage can be accessed. Use capital efficiently by connecting your positions across protocols. No more isolation, no more idle positions, unify your portfolio through Xenon!

“What’s in it for protocols?”

Composability is what makes DeFi special and we believe that its necessary for protocols to leverage one another in order to make the ecosystem more connected and whole.

By compoooosing over protocols, Xenon creates a meta-ecosystem of sorts where the underlying protocols not only get a boost in their TVLs but also get access to native leverage infrastructure. By connecting protocols, liquidity is unlocked and this would increase the userbase not on an individual level but across protocols as whole.

As we are now in the midst of our closed alpha testing, with mainnet launching shortly after, here is a taste of the fruits we have to offer:

Mango Markets: Enjooy leveraged funding arbs

At Xenon we never want our traders to miss a great opportunity whether that be via arbitrage or derivatives trading and be limited by illiquidity. No more excuses, unlock your capital and get to work on Mango Markets!

Mango integration into Xenon Protocol

Solend: Unlock liquidity from your staked bags

Our next integration is Solend, the go-to lending protocol on Solana. Have cTokens sitting idle in your wallets? Deposit them on Xenon and unlock liquidity whilst collecting your APYs! Instead of holding a spot why not hedge your cSOL position with a short on Mango markets?

Solend integration into Xenon Protocol

Saber: No more idle LP positions!

(We hope) everyone has an allocated amount of stablecoins, whether that be USDC, USDT or UST… too soon. After all, you want your size to be size right?

There’s over $80m across the UXD, USDC, USDT LPs all staked on Saber. We’d like to free capital for users allowing them to stake their positions, collect their liquidity provision fees and use the liquid capital to trade. By increasing the TVL of Saber, users will now be able to trade with the least slippage benefitting the protocol and providing a much more seamless experience.

Saber integration into Xenon Protocol

Jupiter: Enjooy a seamless exchange with leverage

Jupiter is a core part of the ecosystem reducing the fragmentation of liquidity by allowing the numerous renditions of wrapped tokens to be seamlessly traded with the best routing possible. With this integration, you can be sure to get the best possible rates for your swaps and arbs on your margin account.

The integration also provides various leveraged arbitrage opportunities allowing them to take any given opportunity and not be limited by their locked LPs. Therefore providing a seamless experience within the ecosystem!

Jupiter integration of Xenon Protocol

Quarry Protocol: Enjooy farming Defi Liquidity Mines!

We all love a solid LP position as much as the next enjooyer, but we at Xenon think that users should be able to do more with their positions than simply stake and farm. That is why with our Quarry Protocol integration, users are able to stake their LP positions, earning interest on them whilst freeing up liquidity to trade elsewhere in the ecosystem!

Pretty cool, right? — using a staked LP position as collateral — and we’re just getting started :)

Quarry Protocol Integration

So what now?

Well, with our closed alpha testing going live, you wouldn’t want to miss the chance at being early to profit from a new primitive within the ecosystem. Stay tuned for various gated NFT pass giveaways with integrated protocols on our Twitter page!

Don’t forget to keep track of our updates on social media and come meet your fellow Enjooyers in our discord:

Twitter: https://twitter.com/XenonProtocol

Discord: discord.gg/stH63eaUG6

Closed Alpha link: https://app.xenon.so/



Xenon Protocol

Universal Margin Protocol built on Solana @ https://xenon.so