Protocol Integrations

Keystone funds interact with external Solana programs via manual Cross-Program Invocation (CPI). No external SDK dependencies are used at the Rust level — instructions and account structures are built directly, then signed by the fund authority PDA.

let instruction = Instruction {
    program_id: protocol_program_id,
    accounts: account_metas,
    data: instruction_data,
};
invoke_signed(&instruction, &accounts, fund_authority_seeds)?;

This approach eliminates Cargo version conflicts and reduces external dependency surface.

---

Keystone Alpha Fund

Protocol	Purpose	Notes
Pyth	SOL/USD price oracle	5-minute staleness check, 2% confidence check. Required for rebalancing and fee collection
Jupiter V6	USDC ↔ jitoSOL swaps	API-provided swap routes executed on-chain with slippage protection
Marginfi	Idle USDC lending	Deposits earn ~3–5% APY. Program: MFv2hWf31Z9kbCa1snEPYctwafyhdvnV7FZnsebVacA
Jito	Liquid staking (jitoSOL)	~5.8% APY from staking rewards + MEV. Token: J1toso1uCk3RLmjorhTtrVwY9HJ7X8V9yYac6Y7kGCPn

Keystone Neutral Fund

Protocol	Purpose	Notes
Jupiter Perps	SOL-PERP short (standard basis) + SOL-PERP long (reverse basis)	AMM-based perp DEX for delta-neutral hedging. Program: PERPHjGBqRHArX4DySjwM6UJHiR3sWAatqfdBS2qQJu
Pyth	SOL/USD price oracle	Same configuration as Keystone Alpha Fund
Jupiter V6	USDC ↔ jitoSOL swaps	Used at deployment, withdrawal, and position close
Kamino KLend	jitoSOL borrow (reverse basis only)	Neutral only. Borrows jitoSOL against USDC collateral in a Kamino obligation after enable_reverse_basis; deploy_reverse / close_reverse crank borrow/repay. Standard basis and parking do not use Kamino. Program: KLend2g3cP87fffoy8q1mQqGKjrxjC8boSyAYavgmjD
Marginfi	Optional USDC lending / parking	Separate from Kamino: idle USDC can earn in Marginfi when configured (park_capital / lending paths). Program: MFv2hWf31Z9kbCa1snEPYctwafyhdvnV7FZnsebVacA
Jito	Liquid staking (jitoSOL)	Spot leg of the standard basis trade

Capital flow — Standard Basis (positive funding):

Deposit USDC → split by collateral_bps:
     ↓ (collateral portion)
Jupiter Perps: deposit USDC as collateral + open short SOL-PERP
     ↓ (remainder)
Jupiter: USDC → jitoSOL → earns staking yield
     ↓
earn jitoSOL staking yield + positive funding payments

Capital flow — Reverse Basis (negative funding):

Kamino: borrow jitoSOL → sell jitoSOL for USDC collateral
     ↓
Jupiter Perps: open long SOL-PERP
     ↓
earn negative funding payments (shorts pay longs)

---

Keystone Defense Fund

Protocol	Purpose	Notes
Jupiter Perps	SOL-PERP long position	Opens a leveraged long during market dislocations; borrow fees read directly from position account
Jupiter V6	JupSOL ↔ USDC swaps	Used on crisis exit and recovery re-entry
Marginfi	USDC lending (idle / crisis dry powder)	USDC can be lent when lending_enabled; program: MFv2hWf31Z9kbCa1snEPYctwafyhdvnV7FZnsebVacA
Jito / Jupiter	Liquid staking (JupSOL)	Held in normal market conditions; JupSOL earns staking + Jupiter MEV

---

Protocol Status

Protocol	Status	Last Verified
Pyth	Active	Feb 2026
Jupiter V6	Active	Feb 2026
Marginfi	Active	Feb 2026
Kamino KLend	Active (Neutral reverse basis)	Feb 2026
Jupiter Perps	Active	Apr 2026
Jito	Active	Feb 2026

Resources:

• Marginfi GitHub · Solscan

• Jupiter Perps · Solscan