How Basket works
Basket turns protocol trading fees into a portfolio of tokenized stocks. Hold $BASKET, earn points from fees, and spend them on real on-chain equities — all on Solana.
The loop
- 01Fees accrue. Trading on the $BASKET/SOL pool (Meteora DAMM v2) generates fees in SOL.
- 02Converted to USDC. A keeper claims those fees and swaps them to USDC via Jupiter.
- 03Distributed as points. The USDC is deposited and split pro-rata to $BASKET holders as points. 1 point = $0.01.
- 04Redeemed for stocks. Holders spend points on tokenized stocks (xStocks), delivered straight to their wallet.
Points & distributions
Every time USDC enters the protocol (from fees or a manual top-up), a snapshot of all $BASKET holders is taken and points are credited pro-rata to holdings. A deposit of $U mints U × 100 points total.
The snapshot is computed off-chain and committed on-chain as a Merkle root, so anyone can verify it. Only normal (on-curve) wallets earn — program vaults and AMM/LP pool accounts are excluded automatically. Claim your points anytime from the dashboard; they accumulate until you spend them.
Staking & tiers
Holding alone earns points (1.00×). Staking $BASKET multiplies your share of every distribution — and locking longer earns more. Multipliers (governable on-chain):
Liquid stakes can be withdrawn anytime with no penalty. Locked stakes can be exited early, but 10% of the position is burned as a penalty. After a lock ends, you can unstake freely.
Redeeming for stocks
In the builder, pick stocks and allocate your points (in dollars). On redeem, the keeper swaps the backing USDC into the chosen stock via Jupiter and sends it directly to your wallet — the protocol never custodies your stocks. 21 liquid, on-chain-routable tickers are available; we curate to names with real liquidity so redemptions actually fill.
xStocks are tokenized securities (issued by Backed Finance) and are issuer-controlled Token-2022 tokens; availability may be restricted by jurisdiction. You hold them in your own wallet, the same as any xStock holder.
Custody & safety
- USDC is held in a program vault; an admin safety-hatch can recover only the free (un-earmarked) balance.
- Redemptions earmark their USDC so it can't be double-spent, and unfilled requests can be cancelled to reclaim points.
- Global pause switches exist for incident response.
- The program is open and on-chain but unaudited — start small and do your own research.