The rules the program enforces
- Borrow limit. A loan can never take you past 50% of your deposit’s value. Withdrawals that would break that limit are refused.
- Every trade is backed. Opening a trade reserves four times its margin from the pool’s free cash, so a winning trade can always be paid. Reserved cash can’t be withdrawn.
- Fair fills. Prices come straight from each stock’s Solana pool. A trade fills at the worse of the current price and the 30-minute average, so a single pool can’t be pushed for a better fill.
- Liquidation by anyone. A trade whose equity falls to 1% of its size, or a loan above 80% of its deposit, can be settled by anyone, for a small fee. No one decides who gets liquidated.
- The books always balance. The pool’s token account always holds exactly its free cash plus the margin of open trades. Our tests check this after every action.
Who can do what
| Who | Can | Cannot |
|---|---|---|
| You | Deposit, withdraw, borrow, trade, repay and close your own trades, from your own wallet | Touch anyone else’s deposit or trade |
| The Dormo program | Hold the pool’s USDG and move it only by the rules above | Move funds outside those rules |
| Admin wallet (Dormo) | List new stocks and markets; hand the admin role to another wallet | Move deposits, change loans, close or edit your trades, change fees or rates |
| Upgrade authority (the deploy wallet) | Upgrade the program’s code, or close it once the pool is empty | Act without leaving a public record on Solana |
| Paxos (USDG issuer) | Freeze or move USDG, including the pool’s, through USDG’s permanent delegate | Change the Dormo program |
| xStocks issuer | Pause, freeze or move its own tokens | Touch your USDG |
| Raydium / Orca pools | Set the prices the program reads | Move any funds |
Safety questions
Is it audited? Not yet. The program has a full test suite, including a random walk that checks the books after every step and a run against the real USDG token, but it has not been reviewed by an outside auditor. Start small.
Can anyone pause it? No. Dormo has no pause switch. The admin can’t stop withdrawals, repayments or closing a trade.
Who sets the prices? The xStock/USDC pools on Raydium and Orca, read directly by the program in the same transaction.
Which wallets work? Phantom, Solflare, Backpack and other Solana wallets.
Found a bug? Write to hello@dormo.family. Our security.txt has the details.