Getting started

Kestrel is a protocol for tokenized DeFi strategies. A Kestrel token packages an on-chain strategy into a token that can be bought, held, and redeemed.

What a Kestrel token represents

When you buy a Kestrel token, you deposit an underlying asset into the protocol and receive a strategy token in return. That token represents a claim on the protocol's holdings for that strategy at the current on-chain redemption price.

For example, a SOL-based strategy token is intended to be redeemable for SOL according to its current redemption price, subject to available liquidity, protocol rules, and fees.

What Kestrel does not do

Kestrel does not hold your private keys or control your wallet. Transactions are signed by you through your wallet and submitted to Solana.

Kestrel does operate automated services that manage strategies by calling protocol instructions. Those services may refresh prices, rebalance positions, deploy idle collateral, unwind positions, or manage strategy health. They can only act through the permissions and limits enforced by the smart contracts.

What you need before buying

• A supported Solana wallet.
• The underlying asset for the token you want to buy.
• Enough SOL for network fees.
• An understanding of the token's strategy, fees, and risks.

Suggested first steps

1. Review How It Works.
2. Read Risks.
3. Check the token page for the current APY, redemption price, and strategy information.
4. Start with an amount you can afford to lose.