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Vanna has two sides that meet in its lending pools:
  • Lenders supply assets to a Vanna lending pool and receive vTokens (vXLM, vBLUSDC, vAqUSDC, vSoUSDC) that grow in value as borrowers pay interest.
  • Traders open a margin account, a personal Soroban smart contract. They deposit collateral, borrow from the pools and use the borrowed funds in Stellar DeFi.

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Follow the tokens

Borrowed funds never go straight to your wallet. They stay in the margin account, where the protocol can see and value them.

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One account, one health factor

Every position in a margin account (tokens, Blend supply and LP shares) backs every loan in it. The health factor compares the account’s total collateral value with its total debt:
Above 1.10 the account is healthy. At 1.10 or below anyone can liquidate it. See Health Factor.

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The pieces

Account Manager

The entry point for every margin action: create, deposit, borrow, repay, withdraw and route to external protocols.

Risk Engine + Oracle

Values every position with Reflector prices and blocks actions that would leave the account at 1.10 or below.

Controllers

Approved adapters for Blend, Soroswap and Aquarius. Your margin account can only call what the Registry allows.

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What’s in the app

Earn, Margin, Spot, Farm, Portfolio, Analytics and Copilot. Spot is the only trading surface on Stellar; there are no perps or options. Rewards is marked Soon. See Core Concepts for the accounting model and Developers for the contracts.