Getting Started

Getting set up on Spout takes a few minutes. Here is the full flow from first visit to active position.

Step 1: Connect Your Wallet

Visit app.spout.finance and connect a Solana wallet (Phantom, Backpack, or any compatible wallet). If you do not have one, the app will walk you through creating one.

Step 2: Get Collateral

You have two paths depending on what you already hold.

• Path A: Buy directly through Spout. Complete a one-time KYC verification inside the app (takes a few minutes), then deposit stablecoins and swap them for any supported spAsset. The protocol handles the tokenization: your stablecoins purchase real shares at the regulated broker, mint the corresponding spAssets, and deliver them to your wallet. No brokerage account needed. KYC is required only for this path because you are purchasing regulated equity-backed tokens.
• Path B: Deposit existing tokenized equities. If you already hold xStocks, Ondo tokens, or other compatible tokenized equities in your wallet, you can deposit them directly as collateral. Connect the same wallet, and those positions are immediately available. No KYC required through Spout for this path since your tokens were already issued through a KYC-compliant provider.

Step 3: Lock and Borrow

Once you hold spAssets, lock them as collateral to enroll in the options cycle. Then borrow up to 50% of the locked value in stablecoins at 0% interest. You can also lock without borrowing if you just want exposure to the borrower's share of cycle yield.

Step 4: Lend (Optional)

To earn yield instead of (or in addition to) borrowing, deposit stablecoins into the lending pool. Choose Senior for lower risk and ~7% APY, or Junior for first-loss exposure and ~25%+ APY. Distributions arrive every Monday.

For Lenders Only

If you only want to earn yield and have no interest in borrowing, you can skip Steps 3 and 4 entirely. Deposit stablecoins into the lending pool and start earning immediately. No collateral needed, no options exposure on your end. Your stablecoins earn yield from the options premium generated by borrowers' collateral across the protocol.