LST Manager – Solana Liquid Staking DApp

Live Project Link: https://solana-devnet-lst.vercel.app/

Overview

• Goal: Let users deposit SOL and receive a liquid staking token (LST), request redemptions, and claim SOL after cooldown. Admin stakes vault SOL to validators and manages withdrawals.
• Program language: Rust (native Solana program, no Anchor).
• Frontend: React + Vite + Tailwind, Solana wallet adapter, Recoil state.
• Network: Defaults to devnet in the frontend.

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User Demo

Complete user flow : connecting wallet → staking SOL → receiving LST → unstaking dSOL → waiting for cooldown → claiming SOL

Admin Demo

Complete admin flow : connecting admin wallet → staking vault SOL to validator → unstaking for epoch → withdrawing from split stake → users claiming SOL

Program Architecture

Instruction Reference (contract/src/instruction.rs)

1. InitialiseLST
   • Creates PDAs: lst_manager, lst_manager_vault, lst_manager_user_withdrawl_vault, lst_mint, stake_registry_record.
   • Sets admin (signer), initializes mint (9 decimals), seeds stake registry indices to 1.
2. DepositSOLToVault (user)
   • Transfers SOL → vault; mints LST to user ATA using dynamic exchange rate from total SOL/LST.
   • Updates total_lst_supply.
3. StakeVaultSOLToValidator (admin)
   • Creates stake PDA (by next stake index), funds from vault, initializes and delegates to validator vote account.
   • Increments next_stake_index; updates total_sol_staked.
4. BurnLstToRedeemSOL (user)
   • Burns LST from user ATA, computes SOL owed (rate from total SOL/LST).
   • Creates/updates user_withdraw_request and epoch_withdraw PDAs.
   • Increments total_pending_withdrawl_sol; decrements total_lst_supply.
5. UnstakeSOLFromValidator (admin)
   • For an epoch’s requests: splits a stake account into split_stake_acc, deactivates it, marks epoch withdraw finalised.
   • Updates total_sol_staked and next_split_index.
6. WithdrawFromSplitStake (admin)
   • Withdraws lamports from a deactivated split_stake_acc into lst_manager_user_withdrawl_vault.
7. ClaimSOLFromWithdrawVault (user)
   • After cooldown (epoch >= requested_epoch + 1), transfers SOL from user withdraw vault to user and marks request COMPLETED.
   • Decrements total_pending_withdrawl_sol.

On-chain PDA State Accounts

LSTManager{admin: Pubkey, lst_mint: Pubkey, total_sol_staked: u64, total_lst_supply: u64, total_pending_withdrawl_sol: u64 }
StakeRegistryRecord{ next_stake_index: u64, next_split_index: u64}
UserWithdrawRequest{ user: Pubkey, sol_amount_user_gets: u64, requested_epoch: u64, withdraw_status: PENDING | COMPLETED}
EpochWithdraw{ sol_amount_to_unstake: u64 , requested_epoch: u64 , finalised: bool }

Core PDAs (seeds → purpose)

• ["lst_manager", bump] → LST manager state (admin, mint, totals).
• ["lst_manager_vault", lst_manager, bump] → SOL vault escrow.
• ["lst_manager_user_withdrawl_vault", lst_manager, bump] → SOL escrow for user withdrawals.
• ["lst_mint", lst_manager, bump] → LST mint authority set to lst_manager.
• ["stake_registry_record", lst_manager, bump] → Tracks next_stake_index and next_split_index.
• ["stake_acc", stake_index, lst_manager, bump] → Stake accounts delegated to validators.
• ["split_stake_acc", split_index, lst_manager, bump] → Deactivated split stakes used for withdrawals.
• ["user_withdraw_request", user, bump] → Per-user pending withdrawal info.
• ["epoch_withdraw", epoch, bump] → Per-epoch aggregate withdraw request for unstaking.

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Frontend (frontend/)

Tech

• React 18, Vite, TypeScript, Tailwind CSS, Recoil, Solana wallet adapter (React UI).
• Toast notifications via react-hot-toast with clickable Solana Explorer links.
• Defaults to clusterApiUrl("devnet").

Running locally

cd frontend
npm install
npm run dev   # Vite dev server

Key Screens & Flows

• Navbar: Connect wallet (wallet adapter UI), shows app brand with gradient logo and title.
• User Dashboard (UserPage):
  • Stats grid (TVL, LST supply, APY, exchange rate, active staked SOL, pending withdrawals).
  • Stake SOL:
    • Sends DepositSOLToVault; mints LST tokens to user ATA.
  • Unstake dSOL:
    • Sends BurnLstToRedeemSOL; creates/updates withdraw request and epoch withdraw PDAs.
  • Pending Withdrawals:
    • Shows current request with epoch information.
    • If epoch passed, enables claim button (calls ClaimSOLFromWithdrawVault).
• Admin Dashboard (AdminPage):
  • Stats grid with same metrics as user dashboard.
  • Stake Vault SOL to Validator:
    • Dropdown to select validator vote account (fetches all available validators).
    • Select a validators and stake the vault SOL to that Validator
  • Unstake SOL:
    • Split a main Stake account into a split account for processing user's withdrawl Requests
  • Withdraw from Split Stake:
    • Withdraw amount from split stake account to user withdrawl vault from where users can requests and claim their withdrawls

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Typical Flows

User

1. Connect wallet.
2. Stake SOL → receives LST (DepositSOLToVault).
3. Unstake dSOL → burns LST, creates withdraw request for current epoch (BurnLstToRedeemSOL).
4. After next epoch, Claim SOL → ClaimSOLFromWithdrawVault.
5. View pending request status and claim readiness in UI.

Admin

1. Connect with admin wallet (matches LSTManager.admin).
2. Periodically Stake Vault SOL to validator (StakeVaultSOLToValidator).
3. For an epoch with pending withdrawals, Unstake SOL to create/deactivate split stake (UnstakeSOLFromValidator).
4. Once split stake is inactive, Withdraw to User Vault (WithdrawFromSplitStake).
5. Users can then claim from the withdraw vault.

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Deployment (program)

• Build: cargo build-bpf (or cargo build-sbf with your toolchain).
• Deploy: solana program deploy <path/to/so>; update frontend constants with the new program ID and derived PDAs (using the same seeds and bumps).
• Verify PDAs (using seeds listed above) match constants used in the frontend.

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Notes on Exchange Rates

• Deposit mints LST using sol_to_lst_rate(total_sol_in_protocol, total_lst_in_protocol).
• Unstake burns LST and records SOL owed using lst_to_sol_rate.
• total_pending_withdrawl_sol is excluded from the available SOL when computing rates for fairness.

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Screenshots Demo

1. User Dashboard - Overview

Main user dashboard showing stats grid, stake/unstake tabs, and pending withdrawals card.

2. Admin Dashboard - Overview

Main admin dashboard showing stats grid, admin action tabs, and stake/split account lists.

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Repository Layout

• contract/ — Solana program (Rust, non-Anchor).
• frontend/ — React + Tailwind + wallet adapter UI.
• README.md — This document.