> ## Documentation Index
> Fetch the complete documentation index at: https://docs.vanna.finance/llms.txt
> Use this file to discover all available pages before exploring further.

# Farm Overview

> Put your margin account's balances to work in Kamino, Perena and delta-neutral basis vaults.

**Farm** deploys tokens from your margin account into yield venues. You can farm with your own collateral or with borrowed funds (leveraged yield). Whatever you receive back, a Kamino receipt or vault shares, **stays in your margin account and counts as collateral**, so farming barely moves your health factor.

![Farm page with a Farm DeFi Yields banner, Net Health Factor, Your Deposit TVL, Your Earnings, Net Farm APY and Pending Rewards, and a Kamino table for SOL and USDC under Lending/Single Assets](https://mintcdn.com/vannafinance/nTvFas2wipJFpeKy/images/solana/farm/overview.png?fit=max\&auto=format\&n=nTvFas2wipJFpeKy\&q=85\&s=4b98753ed9c2d0b567f10e585b2eaca6)

Farm: your farm stats, then Vaults / Positions and the Lending/Single Assets and Delta-Neutral categories.

## Stats

| Stat | Meaning |
| - | - |
| **Your Deposit TVL** | What you currently have deployed in Farm |
| **Your Earnings** | Yield earned across your Farm positions |
| **Net Farm APY** | Your blended APY across positions |
| **Pending Rewards** | Rewards not yet claimed |
| **Net Health Factor** | Your margin account's health factor (same number as on Margin) |

## Categories

| Category | Venues | Guide |
| - | - | - |
| **Lending / Single Assets** | **Kamino** lending (SOL, USDC, USDT) and **Perena** USD\* vaults | [Kamino](https://docs.vanna.finance/solana/guides/farm/kamino.md) · [Perena](https://docs.vanna.finance/solana/guides/farm/perena.md) |
| **Delta-Neutral** | Vanna's **basis vaults**: SOL, ETH, BTC, TSLA and META Basis, earning Phoenix funding | [Delta-Neutral](https://docs.vanna.finance/solana/guides/farm/delta-neutral.md) |

**Vaults** lists everything you can farm; **Positions** lists what you hold. Use **All Pools**, search and the column filters to narrow the list.

**Lending / Single Assets**

Kamino reserves (SOL, USDC, USDT) with total deposits and borrows, supply and borrow APY, utilization and your holding, then the **Perena vaults** (USD\* and USD\* Junior) with TVL, share price, APY (7D), holders and your holding.

![Kamino rows for SOL, USDC and USDT with total deposits, total borrow, supply APY, borrow APY, utilization and holding, and a Perena vaults table with USD\* and USD\* Junior showing TVL, share price, APY 7D and holders](https://mintcdn.com/vannafinance/nTvFas2wipJFpeKy/images/solana/farm/lending-vaults.png?fit=max\&auto=format\&n=nTvFas2wipJFpeKy\&q=85\&s=d91db17ee05fe5da1912e30aa6dc6ca2)

Lending/Single Assets: Kamino reserves and Perena vaults.

**Delta-Neutral**

Vanna's basis vaults (SOL, ETH, BTC, TSLA and META Basis) with total deposits, capacity used, Vault APY, **Funding Now**, open interest and your holding.

![Delta-Neutral table listing SOL, ETH, BTC, TSLA and META Basis vaults on Jupiter and Phoenix with total deposits, capacity, vault APY, funding now, open interest and holding](https://mintcdn.com/vannafinance/nTvFas2wipJFpeKy/images/solana/farm/delta-neutral-vaults.png?fit=max\&auto=format\&n=nTvFas2wipJFpeKy\&q=85\&s=4020f09db53d59518fa5d51abafe85a4)

Delta-Neutral: five basis vaults, each a spot leg plus a 1× Phoenix short.

## Every vault page looks the same

Click a row to open its page:

* **Stats bar** on top (APY, rates, TVL…)
* **All Transactions**: your position value, receipt balance and earned yield, with Current Position and Position History tables
* **Analytics**: charts and details for that venue
* **Deposit / Withdraw panel** on the right. After you enter an amount, a details box shows the network, the amount, the **estimated receipt** you'll get, the share price, the APY and **projected monthly earnings**

## Why the health factor barely moves

A farm deposit swaps one thing in your margin account (USDC, SOL…) for another of about the same value (kUSDC, USD\*, vbSOL…), so total collateral stays the same. What can move it later is the receipt's own value: a vault's share price can rise or fall.

> [!WARNING]
>
> Leverage can get your account liquidated. Prices, borrow interest, swap slippage, perp funding and vault share prices all move your health factor, which must stay **above 1.10**. Only use what you can afford to lose.

## Next steps

> **[Kamino](https://docs.vanna.finance/solana/guides/farm/kamino.md)**
>
> Supply SOL, USDC or USDT to Kamino.

> **[Perena](https://docs.vanna.finance/solana/guides/farm/perena.md)**
>
> USD\* and USD\* Junior stablecoin vaults.

> **[Delta-neutral](https://docs.vanna.finance/solana/guides/farm/delta-neutral.md)**
>
> Earn Phoenix funding without price exposure.


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