Clearstone yield

Clearstone Yield - KYC-Gated Lending on Solana

Regulated lending pools built on permissionless infrastructure

Clearstone Yield brings institutional-grade compliance to DeFi lending by enforcing KYC at the asset layer while leveraging existing audited lending infrastructure. Instead of building isolated permissioned protocols, Clearstone wraps real-world and staking-backed assets into compliance-enforced collateral tokens that plug directly into permissionless markets like Kamino Lend V2.

The result is a composable, regulated lending primitive for institutions, funds, and compliant users - without sacrificing DeFi capital efficiency.

What Clearstone Yield Is

Clearstone Yield introduces KYC-wrapped collateral assets using Solana Token-2022 extensions and an on-chain governance layer.

At the core is cUSDY, a compliant wrapper around Ondo's USDY, and csSOL, a compliant wrapper around Jito-backed restaking positions. These assets can be deposited into permissionless Kamino lending markets while ensuring that only verified wallets can mint, hold, or interact with the wrapped collateral.

This architecture follows the same model pioneered by Aave Horizon:

Compliance is enforced at the token layer, not at the lending protocol layer.

By separating compliance from lending infrastructure, Clearstone preserves composability while meeting institutional onboarding requirements.

Core Flow

KYC Provider ──▶ Governor ──▶ delta-mint ──▶ Kamino Lend V2(off-chain)      (orchestrator) (Token-2022) (audited protocol)1. Operator initializes regulated lending pool2. User completes KYC verification3. Wallet is whitelisted on-chain4. User receives compliant wrapped asset5. Asset is deposited into Kamino as collateral6. User borrows against collateral in permissionless markets

Only KYC-approved wallets can hold Clearstone-issued assets, meaning only compliant participants can access the lending ecosystem.

Products

cUSDY — KYC-Wrapped USDY for Stablecoin Lending

cUSDY is a compliant wrapper around Ondo's USDY, designed for institutional stablecoin lending.

Users who pass KYC receive cUSDY 1:1 against deposited USDY. The wrapped asset is then deposited into a permissionless Kamino market where users can borrow USDC with up to 95% LTV in Kamino's stablecoin elevation group.

Key Properties

• Token-2022 compliance-enforced wrapper

• On-chain wallet whitelisting

• Permissionless Kamino borrowing

• Institutional stablecoin collateral

• Devnet deployment completed

• Integrated with Kamino Lend V2

csSOL — KYC-Gated Re-Staked LST on the Jito Stack

csSOL extends the same compliance primitive to liquid staking and restaking infrastructure.

Users deposit SOL and receive csSOL, a compliant collateral asset backed by a Jito Vault VRT position. csSOL can then be used as collateral in Kamino's LST/SOL elevation group to borrow wSOL at up to 90% LTV.

Unlike synthetic yield systems, csSOL sources yield directly from the underlying Jito Vault state on-chain.

Jito Integration Architecture

Clearstone integrates deeply into the Jito stack across four layers:

LayerJito ProductPurpose

Key Architectural Guarantees

• Vault mint authority is controlled by Clearstone's governor PDA

• VRT minting only occurs through verified KYC-gated CPI flows

• Non-whitelisted wallets cannot mint or receive csSOL

• Yield accrues directly from the underlying Jito infrastructure

• No manual pricing authority exists in the oracle path

This creates a regulated restaking primitive while preserving real on-chain yield exposure.

AML & Compliance Model

Clearstone Yield enforces compliance at every protocol layer it controls.

Token-Level Enforcement

The delta-mint program uses Token-2022 controls to restrict transfers exclusively to approved wallets. Non-whitelisted destinations are rejected at the token layer itself.

Vault-Level Enforcement

For csSOL, the governor pool PDA acts as the mintBurnAdmin for the underlying Jito Vault. This guarantees that VRT minting can only occur through Clearstone's KYC-verified wrapping flow.

Upstream Asset Separation

Underlying assets such as USDY and JitoSOL remain governed by their upstream issuers and compliance frameworks. Clearstone operates as a regulated wrapper and access-control layer on top of those primitives rather than modifying the underlying protocols themselves.

This mirrors the institutional design philosophy of Aave Horizon:

Permissionless infrastructure with regulated access enforced at the asset boundary.

Architecture

Governor Program

The governor acts as the orchestration and control layer.

Responsibilities

• Pool initialization

• Participant onboarding

• KYC role assignment

• Mint orchestration

• Lending market registration

• Emergency freeze controls

Core Instructions

initialize_pool()add_participant()mint_wrapped()register_lending_market()set_pool_status()

Delta-Mint Program

The delta-mint program manages:

• Token-2022 mint creation

• Wallet whitelisting

• Compliance enforcement

• Confidential transfer support

• Role-based permissions

Roles

RolePermissions

External Integrations

Kamino Lend V2

Clearstone uses Kamino's audited permissionless lending markets instead of building custom lending infrastructure.

Pyth Oracle

Price feeds are sourced from Pyth for lending collateral calculations.

• USDY/USD Oracle

• USDC/USD Oracle

• SOL/USD Oracle

• Jito-backed vault pricing

Why Clearstone Yield Matters

Most institutional DeFi systems sacrifice composability by building fully permissioned lending silos.

Clearstone takes the opposite approach:

• Keep lending infrastructure permissionless

• Enforce compliance at the token boundary

• Reuse audited protocols

• Preserve DeFi composability

• Enable institutional participation

This creates a scalable primitive for compliant on-chain credit markets without fragmenting liquidity or rebuilding core lending systems from scratch.

Vision

Clearstone Yield is not a single lending product - it is a generalized framework for compliant collateralized finance on Solana.

Any yield-bearing, real-world, or staking-backed asset can be wrapped into a regulated collateral primitive while still participating in permissionless DeFi infrastructure.

The architecture is extensible by design:

• RWAs

• Treasury-backed assets

• Liquid staking tokens

• Restaking positions

• Structured yield products

• Institutional vaults

All governed through the same compliance-enforced token layer.

Clearstone Yield turns permissionless DeFi infrastructure into institution-ready financial rails.