Liquid Staking for SKR
Stake SKR. Get cSKR. Earn guardian staking yield while your tokens stay liquid, transferable, and DeFi-ready.
No freeze authority on cSKR. Fee changes require an on-chain timelock anyone can verify. Pool assets held in program-controlled addresses.
Why Perch?
Every claim below is verifiable on-chain. No trust assumptions, no marketing fluff - just program-enforced guarantees.
Program-Controlled Vault
All pool assets are held in a program-derived address (PDA). There is no admin withdrawal instruction in the program - funds can only move through deposit, withdraw, and guardian staking instructions.
Liquid Receipt Token
cSKR is a standard SPL token. Transfer it, use it in DeFi, hold it - whatever you want. The exchange rate to SKR only goes up as guardian staking rewards accrue to the pool.
Guardian Staking Yield
Pooled SKR is delegated to Solana guardian validators through on-chain CPI calls. When yield is withdrawn, total_skr_managed increases while cSKR supply stays constant - that is how the rate goes up.
Peer-to-Peer Queue
When vault reserves are low, unstake requests get matched with new depositors peer-to-peer. The deposit instruction supports optional matching - new depositor's SKR goes directly to the unstaker.
Fee Timelock Protection
All fee changes require a 2-phase on-chain timelock (default 24 hours). Fees are staged first, then anyone can call the permissionless apply instruction after the timelock elapses. No surprises.
No Freeze Authority
cSKR's freeze authority has been permanently revoked via an irreversible on-chain instruction. Your tokens can never be frozen, seized, or locked by anyone. Period.
How it Works
Stake SKR
Deposit SKR into the pool vault. You receive cSKR based on the current exchange rate. If there are pending unstake requests in the queue, your deposit automatically matches them peer-to-peer.
Earn Yield
Your cSKR appreciates as guardian staking rewards flow in. The exchange rate increases every time yield is withdrawn from guardians back into the pool.
Unstake Anytime
Burn cSKR to get SKR at the current rate. Standard withdrawals pull directly from the vault. If reserves are low, use the instant unstake queue with priority tiers and optional depositor tips.
Verify Everything On-Chain
Every fee, balance, and exchange rate lives in a 224-byte pool state account readable by anyone. The program has 25 active instructions across 27 tag slots.
Ready to Stake?
Connect your wallet, verify the pool state yourself, and start earning yield. No sign-ups, no KYC, no permissions needed.
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