What is rkuSOL, and how does it work on Jupiter Lend?

rkuSOL is Raiku's liquid staking token, backed by SOL delegated to validators running Raiku's client and issued via Sanctum. Since 4th November 2026, rkuSOL can be used on Jupiter Lend, Jupiter's lending protocol on Solana. You deposit rkuSOL as collateral and can borrow USDC against it, up to a 75% loan-to-value ratio. The rkuSOL stays in the position as rkuSOL, so it continues to accrue staking rewards, but a borrowing position can be partly liquidated if its value falls. rkuSOL isn't available to residents of the UK, China, Japan or South Korea.

What is rkuSOL?

rkuSOL is a liquid staking token (LST). When you stake SOL through the Raiku stake pool, you receive rkuSOL in exchange for your SOL. The underlying SOL is delegated to validators running Raiku's client, and rkuSOL accrues Solana staking rewards and validator MEV over time. Rewards vary with validator performance and network conditions, and they aren't fixed.

Because rkuSOL is a token, you can hold it, transfer it, swap it, or use it in other Solana apps while the underlying SOL stays staked. It's issued via Sanctum, and it entered the top 30 Solana LSTs on Sanctum's tracker within a week of launching in June 2026.

Staking supports the network that Blackline, Raiku's execution product, runs on. It isn't a route into Blackline, which is invitation only.

What is Jupiter Lend?

Jupiter Lend is a non-custodial lending protocol on Solana, built by Jupiter. Users can supply assets or use them as collateral to borrow other assets. Every loan is overcollateralized, which means the collateral must be worth more than the amount borrowed. Each market, called a vault, has its own risk settings, and borrow rates move with demand for the borrowed asset.

How does using rkuSOL on Jupiter Lend work?

The rkuSOL market on Jupiter Lend is the rkuSOL/USDC vault. rkuSOL is the collateral and USDC is the asset you borrow. This is the flow as shown in Jupiter's app:

1. Check you're eligible. rkuSOL isn't available in every country (see below). Read the Raiku Risk Disclosure and Jupiter's own terms and documentation first.
2. Hold rkuSOL in a Solana wallet. You can mint it by staking SOL at stake.raiku.com, or swap SOL for rkuSOL on Jupiter.
3. Open the market. Go to the rkuSOL/USDC market on Jupiter Lend and connect your wallet.
4. Deposit rkuSOL as collateral. It shows under "Supplied Collateral". Jupiter lets you deposit and borrow in a single transaction.
5. Choose how much USDC to borrow, if any. The most you can borrow is 75% of your collateral's value. The app shows a Position Health figure that tells you how close the position is to liquidation.
6. Monitor the position. If the value of your rkuSOL falls, your debt-to-collateral ratio rises. You can repay USDC or add rkuSOL at any time to bring it down.
7. Close the position. Repay the USDC debt and withdraw your rkuSOL. Jupiter lets you repay and withdraw in a single transaction.

Key parameters

These figures come from the Jupiter Lend market page on 4 November 2026. Jupiter sets them and can change them, so always check the live page.

What the numbers mean. Say you deposit rkuSOL worth $2,000. You could borrow up to $1,500 of USDC (75%). If you borrowed the full $1,500, the position would become eligible for liquidation once your collateral's value fell to $1,875, because $1,500 is 80% of $1,875. That's a drop of about 6%. Borrowing less than the maximum leaves a wider margin.

What are the risks?

• Liquidation. Once a position reaches the 80% liquidation threshold, third-party liquidators can repay part of the debt and take part of your collateral, plus a 5% penalty on the portion they liquidate. Jupiter's liquidations are partial, but further falls can trigger more of them. Jupiter's documentation also describes a hard limit above which a position is fully liquidated.
• Price moves in SOL. Your debt is in USDC and your collateral is priced in US dollars, so a fall in the SOL price can push the position toward liquidation even if rkuSOL itself works as intended.
• Variable borrow rates. The USDC borrow rate changes with demand. A higher rate grows your debt faster.
• Oracle risk. Position health is calculated from oracle prices. Delayed or inaccurate price data could affect when liquidations happen.
• Smart contract risk. rkuSOL depends on the stake pool and Sanctum infrastructure, and Jupiter Lend runs on its own smart contracts. Bugs, outages or exploits in either could cause losses. Audits don't remove this risk.
• Depeg and liquidity risk. rkuSOL's market price can trade away from the value of the SOL backing it, especially in stressed markets. Slashing or other penalties could also reduce that backing.
• Staking rewards vary. Rewards depend on validator performance and network conditions and may change.

Read the full Raiku Risk Disclosure before using rkuSOL.

Who can't use rkuSOL?

rkuSOL isn't available to residents of the United Kingdom, China, Japan or South Korea, or of jurisdictions subject to OFAC, UN, EU or UK sanctions. Jupiter Lend applies its own terms and regional restrictions, which you should also check.

FAQ

Can I borrow against rkuSOL on Jupiter Lend? Yes. The rkuSOL/USDC vault lets you deposit rkuSOL as collateral and borrow USDC, up to a 75% loan-to-value ratio.

Does rkuSOL keep accruing staking rewards while it's collateral? Your collateral stays as rkuSOL, so it continues to accrue staking rewards through the stake pool. Rewards vary and aren't fixed.

What happens if the price of SOL falls? Your collateral is worth less, so your debt-to-collateral ratio rises. At 80%, part of the position can be liquidated, with a 5% penalty on the liquidated portion.

What can I borrow against rkuSOL on Jupiter Lend? USDC. That's the only borrow asset in this vault.

Is Jupiter Lend non-custodial? Jupiter describes Jupiter Lend as a non-custodial lending protocol. Positions are managed by smart contracts, not held by Raiku.

Can I use rkuSOL on Jupiter Lend from the UK? No. rkuSOL isn't available to residents of the UK, China, Japan or South Korea.

Is Raiku responsible for the Jupiter Lend market? No. Jupiter runs Jupiter Lend and sets the market's parameters. Raiku issues rkuSOL.

This article is for information only and isn't financial, investment or legal advice. Using rkuSOL and Jupiter Lend puts your capital at risk.