Ranger Earn
Overview
Ranger Earn provides curated access to institutional-grade yield strategies managed by professional asset managers and hedge funds. The platform simplifies access to sophisticated trading strategies that traditionally require specialized tools and expertise, making them available through a one-click interface.
Built on Ranger's vault infrastructure, the platform enables curators to execute trading strategies within secure, non-custodial frameworks and established risk parameters. Ranger Earn delivers sustainable, real yield opportunities across stablecoins and real-world assets, supporting the next generation of DeFi growth on Solana.
How It Works
Transparent Yield Generation
Ranger Earn abstracts the complexities of DeFi yield generation while maintaining full transparency. Users gain access to diverse strategies including funding rate arbitrage, lending optimization, and cross-exchange strategies without requiring deep technical knowledge.
All vault positions and protocol interactions are visible on-chain, ensuring users understand exactly how yield is generated and can assess the protocols involved. This transparency allows informed decision-making around protocol risk exposure.
Non-Custodial Security
Ranger vaults operate on a non-custodial basis. For fully on-chain strategies, neither Ranger nor curators can withdraw user deposits. Strategy execution is restricted to whitelisted protocols and functions, ensuring funds remain under programmatic control.
For strategies involving off-chain execution on centralized exchanges or cross-chain DEXs, curators may withdraw funds to whitelisted addresses. These addresses are typically third-party custodians or curator-managed exchange accounts, with withdrawal permissions clearly disclosed in vault documentation.
Professional Curation
All vault curators featured on Ranger Earn have completed KYC/KYB verification and demonstrated proven track records in strategy execution. This vetting process helps mitigate counterparty risk and ensures only quality strategies are presented to users.
Yield Strategies
Ranger Earn goes beyond simple yield optimization and pool rebalancing. Curators employ sophisticated trading strategies designed to generate sustainable real yield that does not rely solely on token emissions.
Example strategy types include:
Cross-Exchange Funding Rate Arbitrage: Capturing rate differentials between trading platforms
Funding Rate Farming: Optimizing delta neutral positions to collect funding payments
Yield Optimization: Automatic rebalancing to capture highest lending yields based on risk profile
Each vault's specific strategy, risk profile, and yield sources are documented in detail on its respective vault page.
Vault Architecture
Ranger's vault infrastructure consists of modular, composable programs that enable flexible strategy execution across multiple protocols.
Core Components
Vault Program (voltr-vault)
The vault program manages user interaction and accounting:
Vault creation and initialization
User deposits and withdrawals
Share price calculation and tracking
Fee collection and distribution
Total assets under management (AUM) accounting
Security controls through role separation and deposit caps
Adapter Programs
Adapters are specialized modules that handle protocol-specific interactions. Curators can combine multiple adapters to execute complex, multi-protocol strategies. Each adapter is designed to interact with specific DeFi primitives while maintaining security guardrails.
Available Adapters
Ranger currently supports the following protocol integrations:
Lending Adaptor
Kamino Lending Market, Marginfi Lending Market, and Save Lending Market
Drift Adaptor
All Existing Drift Vaults
Raydium Adaptor
All Raydium CLMM Pools
Swaps
Jupiter Spot
Trustful Adaptor
CEX
The adapter architecture is designed to be extensible, allowing for integration with additional protocols as the Solana DeFi ecosystem evolves.
Deployed Programs
Both programs are deployed on Mainnet with the following addresses:
Vault
vVoLTRjQmtFpiYoegx285Ze4gsLJ8ZxgFKVcuvmG1a8
Lending Adaptor
aVoLTRCRt3NnnchvLYH6rMYehJHwM5m45RmLBZq7PGz
Drift Adaptor
EBN93eXs5fHGBABuajQqdsKRkCgaqtJa8vEFD6vKXiP
Raydium Adaptor
A5a3Xo2JaKbXNShSHHP4Fe1LxcxNuCZs97gy3FJMSzkM
Trustful Adaptor
3pnpK9nrs1R65eMV1wqCXkDkhSgN18xb1G5pgYPwoZjJ
Role-Based Access Control
Security is enforced through strict role separation:
Admin Role: Controls adapter addition/removal and vault configuration
Manager Role: Executes strategy operations including deposits and withdrawals to/from protocols
User: Deposits and withdraws from the vault
All privileged operations require signature verification from the appropriate role, preventing unauthorized actions.
Vault Tokens (LP Tokens)
Share Representation
Vault deposits are represented by SPL tokens (using the Token Program), commonly referred to as LP (Liquidity Provider) tokens. Each LP token represents a proportional claim on the vault's Net Asset Value (NAV).
Token Price Formula:
Where Total NAV includes:
Idle assets held in the vault
Current value of all active strategy positions
Yield-Bearing Nature
Vault tokens are yield-bearing and automatically compound returns. As the underlying strategies generate profits, the NAV per LP token increases. Users realize gains through the appreciation of their LP tokens rather than receiving separate yield distributions.
When users withdraw, they redeem their LP tokens for a proportional share of the vault's current NAV, capturing all accrued yield.
Fee Structure
Ranger's vault infrastructure supports a comprehensive fee framework that aligns incentives between the protocol, vault administrators, and strategy managers.
Issuance Fee
Deposit
Percentage deducted from deposits before LP tokens are minted
Redemption Fee
Withdrawal
Percentage deducted from assets during withdrawal
Management Fee
Assets Under Management (AUM)
Annual percentage fee that accrues continuously based on time elapsed
Performance Fee
Net Profit
Percentage of profits generated, subject to High Water Mark
High Water Mark (HWM)
Performance fees are calculated using a High Water Mark mechanism to ensure fees are only charged on new profits. The system tracks the highest historical asset-per-LP ratio. Performance fees only accrue when the current ratio exceeds this peak.
If a vault experiences losses, the curator must recover to the previous high water mark before performance fees resume. This structure ensures curators are only compensated for generating net positive returns.
Fee Distribution
Fees are distributed across three parties through an LP token minting mechanism:
Protocol: Receives a protocol-level fee percentage
Vault Admin: Receives a portion as the vault owner
Vault Manager: Receives a portion as the strategy executor
Rather than withdrawing assets from active strategies, the system calculates the asset value of fees owed and mints an equivalent amount of new LP tokens to fee recipients. This approach maintains capital efficiency while ensuring proper compensation.
Accumulation vs. Harvesting
The fee system operates in two stages:
Accumulation Fees are calculated automatically during core vault operations (deposits, withdrawals, strategy interactions, or configuration updates). During accumulation, calculated fees are added to the vault's FeeState as "accumulated LP tokens." These accumulated fees increase the virtual supply used for share price calculations, ensuring the NAV accurately reflects outstanding fee obligations.
Harvesting To transfer accumulated fees to actual wallets, any user can call the harvest_fee instruction. This triggers the minting of accumulated LP tokens from the vault's mint authority to the Associated Token Accounts of the Protocol, Admin, and Manager. Harvesting converts virtual fee obligations into real, transferable LP tokens.
Fee Processing Events
Fees are calculated and updated during the following events:
Deposits and Withdrawals: Ensures users transact at accurate NAV after fee adjustments
Strategy Interactions: When funds move in or out of strategies, realized PnL triggers fee calculations
Configuration Updates: Outstanding fees process at the current rate before new fee parameters take effect
For Curators: Vault as a Service
Ranger's vault infrastructure enables hedge funds, asset managers, and protocols to deploy and manage their own vaults without extensive blockchain development.
Key Benefits
Rapid Deployment
No smart contract development required
Leverage production-ready vault and adapter programs
Reduce deployment timeline from months to days
Integrated Operations
Built-in accounting and NAV calculation
Automated fee distribution and tracking
Comprehensive SDK support for strategy implementation
Security-First Design
Non-custodial infrastructure with role-based access controls
Audited smart contracts with established security practices
Focus on strategy performance while infrastructure handles security
Flexible Integration
Modular adapter system supports multi-protocol strategies
TypeScript SDK for seamless integration with existing trading systems
Customizable fee structures to align with your business model
Curators interested in deploying vaults on Ranger should contact the team for onboarding requirements and technical integration support.
Security
Ranger's vault infrastructure has undergone professional security audits to ensure the safety of user funds.
Last updated