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Vanna has two sides: lenders who supply assets to pools, and margin accounts that borrow from those pools and put the loan to work on other Solana protocols.

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The pieces

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Follow the money

1

Lenders supply

A lender supplies USDC on Earn and receives vUSDC. The USDC sits in the pool, ready to be borrowed.
2

A trader deposits collateral

A trader opens a margin account and deposits collateral, for example SOL, USDC or TSLAx.
3

The trader borrows

The trader borrows USDC from the pool. The USDC moves into the trader’s margin account, not their wallet, and the account records the debt.
4

The loan goes to work

From the margin account the trader swaps, opens a perp, or moves into a Farm vault. Each result (tokens, kSOL, vbSOL, a Phoenix position) stays in the account and counts as collateral.
5

Interest flows back

Borrowers pay interest that accrues to the pool. Lenders’ vTokens are worth more underlying over time.
6

Unwind

The trader closes positions and repays (or uses Flash repay to do it all in one flow), then withdraws what’s left.

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Account health

Every asset counts at its full oracle value, with no per-asset weighting. At 1.10 or below the account can be liquidated. The app blocks withdrawals and new borrows that would take you under a 1.15 safety floor, so you always keep a buffer. More in Health Factor.

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Predict

Predict is a separate flow on World.xyz markets. When you hold matching Yes and No shares of the same market, Vanna pairs them, merges them back into USDC and lends that USDC in its pool, so the pair earns interest until the event resolves. See Earn While You Wait.

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Next steps

Getting Started

Sign in and mint test funds.

Architecture

The programs behind it, for developers.