> Solana Developer Platform docs, served as Markdown. The [docs index](https://platform-beta.solana.com/docs.md) lists every page and [llms.txt](https://platform-beta.solana.com/docs/ai/llms.txt) the key ones; [SKILL.md](https://platform-beta.solana.com/SKILL.md) has the rules for building on SDP.

# Strategies

Find a strategy your project can deposit into, then check its slippage policy, rate, eligibility, and withdrawal terms.

> **Earn is under active development.** Features, API endpoints, and docs may change.

Every deposit names a strategy. List the catalog, keep the strategies your
project can fund, and check each one's terms before you offer it to
customers.

Set `SDP_API_URL` and `SDP_API_KEY` as shown in the
[Quickstart](/docs/earn/quickstart#before-you-begin).

## List the catalog

[`GET /v1/earn/strategies`](/docs/reference/api/earn/list-earn-strategies)
returns the strategies your project can see, largest first. It defaults to
your project's cluster: devnet for sandbox, mainnet for production.

```bash title="Terminal"
curl --fail-with-body -sS "${SDP_API_URL:?Set SDP_API_URL}/v1/earn/strategies?pageSize=100" \
  -H "Authorization: Bearer $SDP_API_KEY"
```

```json title="Response (trimmed)"
{
  "data": {
    "strategies": [
      {
        "id": "earn_strategy_3b6a81ce-00b0-4c5a-9761-cb359932e97e",
        "provider": "kamino",
        "providerReference": "C7N2fqV2GvhFghDf5PJSwstyjedjLNCY1cm2Ak7TeU83",
        "name": "Kamino Vault USDC",
        "sourceKind": "defi",
        "depositMints": ["4zMMC9srt5Ri5X14GAgXhaHii3GnPAEERYPJgZJDncDU"],
        "shareMint": "CeirL1mAehaM6g2EccgMUQwohNfnuyicskVQ4r9ekXk6",
        "apyType": "variable",
        "liquidityTerm": "instant",
        "status": "active",
        "depositSlippage": null,
        "withdrawalSlippage": null,
        "hostCluster": "devnet",
        "fundable": true
      }
    ],
    "total": 6,
    "page": 1,
    "pageSize": 100
  }
}
```

The catalog pages with `page` and `pageSize` (default 20, up to 100). Keep
reading pages until you have `total` strategies. Narrow the list with
`sourceKind`, `apyType`, or `liquidityTerm`.

## Check that it takes deposits

| Check | Pass when |
| --- | --- |
| `status` | `"active"`. Paused and deprecated strategies take no new deposits. |
| `fundable` | `true`. The strategy exists on your project's cluster. |
| `hostCluster` | Matches your project: `devnet` in sandbox, `mainnet-beta` in production. |
| Deposit token | `depositMints[0]` is the token a deposit takes. Fund the wallet with it. |
| Preview | A [deposit preview](/docs/reference/api/earn/create-earn-vault-deposit-preview) returns an empty `blockingIssues`. |

In sandbox, `?cluster=mainnet-beta` lists mainnet strategies for browsing.
They stay `fundable: false`: a sandbox project cannot deposit into them.

Your organization also needs each provider activated, once for all its
projects. Until it is, previews and builds return `403` with `FORBIDDEN` and
`details.reason` set to `provider_not_entitled`:

```json title="Response"
{
  "error": {
    "code": "FORBIDDEN",
    "message": "Kamino requires manual activation for this organization.",
    "details": { "reason": "provider_not_entitled" }
  }
}
```

Ask your SDP contact to activate the provider for your organization.

## Read the slippage policy

`depositSlippage` and `withdrawalSlippage` say whether a transaction needs a
floor derived from a live quote:

| Policy | Deposit | Withdrawal |
| --- | --- | --- |
| `null` | Omit `minSharesOut`. | Omit `minAmountOut`. |
| `{ "quoteRequired": true, "defaultToleranceBps": 10 }` | Preview, then send `minSharesOut`. | Preview, then send `minAmountOut`. |

[Slippage floors](/docs/earn/integration-details#slippage-floors) shows how
to compute a floor exactly.

## Show rates and terms

| Field | How to show it |
| --- | --- |
| `currentApy` | A decimal rate: `"0.062"` is 6.2%. When absent, show "Unavailable", never 0%. |
| `apyType` | A `variable` rate moves with the strategy's returns; a `fixed` rate does not. |
| `liquidityTerm` | A label, not a promise. Read live [withdrawal options](/docs/earn/withdrawals#1-choose-a-route) before you offer a withdrawal route. |
| `redemptionDelayDays` | Expected timing, not a guaranteed deadline. |
| `riskMetadata` | Provider fees and risk facts, when the provider reports them. |

An APY describes a rate, not a guaranteed return. Holding a token in the
customer's own wallet does not guarantee principal, backing, or liquidity.

## Confirm eligibility

SDP access authorizes API calls, not investment. For restricted products,
confirm investor, jurisdiction, wallet, subscription, and redemption
requirements with the provider, for each customer and for the wallet that
will hold the position. One usable strategy does not make a provider
permissionless.

## Follow the funds

| Strategy shape | Money in | Money out |
| --- | --- | --- |
| Vault or lending market | One transaction exchanges the deposit token for shares. | Shares redeem under the provider's liquidity and withdrawal rules. |
| Yield-bearing token | One transaction acquires the token in the customer's wallet. | A sale depends on market liquidity; a redemption may need provider approval. |
| Provider order | A transaction pays into the provider's order. | The provider completes the order later. |

## Paused and deprecated strategies

Pausing or deprecating a strategy stops new deposits only. Existing positions
stay visible and withdrawable, subject to the provider's liquidity. See
[Withdraw funds](/docs/earn/withdrawals).

Next, [make your first deposit](/docs/earn/quickstart).