What Satril does
Satril is a vault for dollars on Solana. You deposit USDC into a vault that belongs to your wallet. Satril lends it on Kamino, the largest lending market on Solana, where borrowers pay interest for it. Your deposit is never spent: you can take it back at any time. Only the interest leaves the vault, and it leaves as Bitcoin. When the interest is worth a swap, it is turned into cbBTC (Coinbase Wrapped BTC) and sent to your own wallet.
The name says it: sat, the smallest unit of Bitcoin, and rill, a small stream. The dollars stay where they are; a small stream of sats runs out of them.
How a vault works
Open a vault
Your vault is an account of the Satril program that only your wallet controls. Opening it creates three small accounts; you pay their rent (a little SOL) and get it back when you close the vault.
Deposit USDC
The minimum deposit is $1. The program moves your USDC into Kamino's main-market USDC reserve in the same transaction and keeps the receipt tokens in your vault. Your principal is the amount you put in.
Interest accrues slot by slot
Kamino's exchange rate rises with the chain's clock, so your vault's value is a little higher in every slot (about 2.5 a second). Interest is that value minus your principal. The rate is set by demand for USDC loans and moves; it is never promised.
Reading the live rate…
Reading Kamino API and Pyth…
The harvest
A keeper checks every vault every 30 minutes. Once a vault's interest is worth at least $0.50 (smaller swaps would be eaten by their own costs), the program redeems exactly that interest from Kamino. It keeps a vault fee of 10 % of it and swaps the rest to cbBTC through a whitelisted swap route, measured against the Pyth BTC price: the Bitcoin received must be at least the oracle price less 1.5 %, or the harvest does not happen. A stale price stops a harvest; it never mis-prices one.
Bitcoin lands in your wallet
The cbBTC goes straight to your own wallet's cbBTC account. There is nothing to claim. You can also harvest your own vault from the app at any time it is over the minimum.
Withdraw any amount, any slot
You can withdraw any amount up to your vault's value whenever you like, even while new deposits are paused. If you withdraw more than your principal, the extra is unharvested interest and comes back as USDC with no fee: the vault fee applies only when interest becomes Bitcoin. When the vault is empty you can close it and get its rent back.
No instruction lets the admin, the keeper or anyone but you move your principal. The keeper can only cause interest to leave, and only as Bitcoin into your own wallet, minus the fee.
The 0.1 % line
Wallets that hold at least 0.1 % of the live $SATRIL supply are on the line. Two things follow, with no staking, no lock and no claim:
- No vault fee. When your vault is harvested, the program checks your $SATRIL balance in the same transaction. On the line, the 10 % fee is waived and all of the interest becomes Bitcoin.
- Bitcoin drops. Part of the trading fee buys cbBTC. Every 30 minutes, when the pool holds at least 1,000 sats, it is dropped to every wallet on the line, split by balance, straight into each wallet.
The line is measured against the live supply, so every burn lowers it. Program accounts, pools and the dev wallet are never paid. You can check any wallet against the line on the ledger.
Where the money goes
The trading fee
Every buy and sell of $SATRIL pays a 1.95 % fee, in SOL. The first minute after launch charges more, falling from 90 % to 1.95 % over 60 seconds, so bots that buy in the first second pay for it. Of each fee:
| Goes to | Share of the fee | Of every trade |
|---|---|---|
| Meteora, the pool's protocol | 20 % | 0.39 % |
| The dev wallet (public) | 64 % | 1.248 % |
| The drop pool (Bitcoin for the line) | 16 % | 0.312 % |
Said plainly: the 1.56 % that reaches Satril's router is split 80 % to the dev wallet and 20 % to the drop pool. The dev share pays for building and running Satril. The split is set in the program: it can only be lowered, never raised above 80 %.
The vault fee
The 10 % vault fee taken at each harvest is USDC. Every dollar of it buys $SATRIL on the market and burns it, about once an hour. None of it goes to the team. The fee can only be lowered (it is compiled with a ceiling of 20 %), and wallets on the line never pay it.
So the more dollars sit in vaults, the more $SATRIL is bought and burned, and the more trading there is, the more Bitcoin is dropped to the line. Every buyback, burn and drop is on the ledger with its transaction.
The token
- Supply
- 1,000,000,000 $SATRIL, fixed. The mint authority is revoked when the token is created, so no more can ever be made. Burns only lower it.
- Authorities
- No freeze authority. The metadata is immutable.
- Launch
- On a Meteora bonding curve. When the curve completes it moves to a Meteora DAMM v2 pool at the same 1.95 % fee, with its liquidity locked to Satril's router for good.
- Presale, team
- No presale, no team allocation, no vesting. Every token starts on the curve.
- Dev buy
- 1 % of the supply (10,000,000 $SATRIL), bought in public after the first minute at the normal fee, then burned in full in the next transaction. Both transactions are posted.
- Future supply
- None. Nothing unlocks later, because nothing is locked: there is no reserve of tokens anywhere.
Deposit caps while new
While Satril is new, deposits are capped at $10,000 per wallet and $100,000 in all. The admin can raise them later within limits compiled into the program, or pause new deposits. Withdrawals are never capped and never paused.
Risks
Read these before you deposit. Satril keeps your principal where you put it, but it cannot remove the risks of the places your dollars sit.
- Kamino lending
- Your USDC is lent through Kamino Lend. A bug in Kamino, a failed liquidation or bad debt there could reduce what your vault is worth. If that ever happens your vault shows the loss as it is; it is never hidden.
- Withdrawal delays
- When almost all of the reserve's USDC is lent out (full utilisation), a withdrawal can have to wait until borrowers repay or new deposits arrive. Kamino's rates rise sharply in that state to bring liquidity back, but the wait is not under Satril's control.
- cbBTC custody
- The Bitcoin you receive is cbBTC, a token backed by bitcoin that Coinbase holds. It depends on Coinbase as custodian and issuer.
- A new program
- The Satril program is new. Its rules are the ones on this page and its source is public; an outside audit will be listed here when one is done.
- Prices and rates
- The interest rate changes with demand for loans, and the dollar value of the sats you receive moves with the Bitcoin price. Nothing here is a promise of a return.
- The token
- $SATRIL is traded on open markets and its price can fall. Holding it is not needed to use a vault.
Addresses
Everything Satril touches, on Solana.
- $SATRIL contract (CA)
- Posted here and on X at launch. Anything else claiming to be it is not.
- Satril program
- H2deyPrqGY4aXNzhP98wYo4TG7wtLyqRSbsNEM8S6KZs
- Kamino Lend program
- KLend2g3cP87fffoy8q1mQqGKjrxjC8boSyAYavgmjD
- Kamino USDC reserve
- D6q6wuQSrifJKZYpR1M8R4YawnLDtDsMmWM1NbBmgJ59
Questions
Can anyone else move my deposit?
No. Only the wallet that owns a vault can deposit to it, withdraw from it or close it. The keeper and the admin cannot move principal.
Do I have to claim anything?
No. Harvested Bitcoin and Bitcoin drops arrive in your wallet by themselves.
How often does Bitcoin arrive?
Whenever your vault's interest passes $0.50, at the next check (every 30 minutes). How soon that is depends on the size of your deposit and the rate; the app shows your own progress toward it.
What if my interest is below the minimum?
It stays in your vault, still earning, until it passes the minimum. If you withdraw before then, it comes back to you as USDC with no fee.
Is there a lock-up or a withdrawal fee?
No. Withdraw any amount at any slot. Satril charges nothing on deposits or withdrawals; you pay only Solana's network fee.
Do I need $SATRIL to use a vault?
No. Anyone can open a vault. Holding at least 0.1 % of the supply only removes the vault fee and adds Bitcoin drops.
Why cbBTC and not native bitcoin?
Because it lives on Solana, so it can land in your Solana wallet in the same transaction. You can hold it, or bridge or redeem it through Coinbase.
Which wallets work?
Any Solana wallet: Phantom, Solflare, Backpack, OKX Wallet, MetaMask (Solana), Coinbase Wallet and Trust Wallet among them.
Where can I see what happened?
On the ledger: every harvest, every drop and every buyback and burn, each with its transaction on the explorer.
Nothing on this page is investment advice. Satril is software you use yourself; read the risks above.