| Program | What it does | SDK class |
|---|---|---|
| Exponent Core | Strip SY into PT + YT, merge back, manage yield positions | Vault |
| Exponent CLMM | Concentrated liquidity AMM — buy/sell PT and YT, provide liquidity | MarketThree |
| Exponent Orderbook | Limit order book — post offers at specific APY levels, market orders | Orderbook |
What Each Program Does
- Exponent Core is the foundation — it manages vaults, mints PT and YT, and handles yield positions. The other two programs depend on it.
- Exponent CLMM is a concentrated liquidity AMM designed for trading PT and YT. It uses an APY-based tick system where liquidity providers concentrate capital around specific yield ranges. Trades execute instantly at market price, and the program calls into core automatically when a swap requires stripping or merging under the hood.
- Exponent Orderbook is a limit order book where users post offers at a specific implied APY. Orders can be filled immediately (market orders) or sit passively until matched. YT offers continue to accrue yield while resting on the book. Like the CLMM, the orderbook calls into core when settlement requires stripping or merging.
Core Program Addresses
| Program | Address |
|---|---|
| Exponent Core | ExponentnaRg3CQbW6dqQNZKXp7gtZ9DGMp1cwC4HAS7 |
| Exponent CLMM | XPC1MM4dYACDfykNuXYZ5una2DsMDWL24CrYubCvarC |
| Exponent Orderbook | XPBookgQTN2p8Yw1C2La35XkPMmZTCEYH77AdReVvK1 |
SY (Standardized Yield) Programs
Each SY program handles wrapping/unwrapping for a specific yield source.| Program | Flavor | Address |
|---|---|---|
| Generic | generic | XP1BRLn8eCYSygrd8er5P4GKdzqKbC3DLoSsS5UYVZy |
| Kamino | kamino | XPK1ndTK1xrgRg99ifvdPP1exrx8D1mRXTuxBkkroCx |
| marginfi | marginfi | XPMfipyhcbq3DBvgvxkbZY7GekwmGNJLMD3wdiCkBc7 |
| Jito Restaking | jitoRestaking | XPJitopeUEhMZVF72CvswnwrS2U2akQvk5s26aEfWv2 |
| Perena | perena | XPerenaJPyvnjseLCn7rgzxFEum6zX1k89C13SPTyGZ |