Introducing Slumlord

Slumlord is the world’s first public and in-production Ideally program. Ideally is an alternative approach to Native Solana programming invented by our co-founder HY. It’s a game changer because we believe it’s the most ideal (haha get it) way to approach Solana programming in the future. [It’s also called Ideally because you write the IDL first before writing the program.] You can take a look here. It deserves a further writeup soon.

slumlord

So what kind of a program is Slumlord? Here at Sanctum, we have a continued commitment to building open source public goods, the Slumlord program is a zero-fee flash loan program that anyone can use to temporarily pay for an ephemeral account's rent. 🔗: https://github.com/igneous-labs/slumlord

Building atop the instructions introspection flash loan model pioneered by Hana from Solana Labs, anyone can take a flash loan of the slumlord account's entire SOL balance as long as a CheckRepaid instruction that verifies the repayment of the loan follows within the same transaction

We've also made the following improvements:

1. Borrow is safe to call from within a CPI, making it more composable with other programs.

2. All instructions take much fewer account inputs, with the largest instructions, Borrow and Repay, only taking 3(!) account inputs.

3. All instructions use no more than 5000 compute units, so you don't have to worry about paying a fortune in priority fees.

4. By splitting Repay and CheckRepaid into 2 different instructions, CheckRepaid, the only instruction required to be top-level, now only requires 1 account input. This, plus our use of 1-byte instruction discriminants, means it'll only take up 7 bytes of additional space in a solana transaction, leaving more space for you to work with.

So, what can you use this for? For starters, you can use it to temporarily fund a wrapped SOL account if you wish to buy SOL on Jupiter, but don't hold enough to create the account. You can read a more detailed explanation here.

That’s just the beginning. The possibilities are endless. Slumlord is now live on Mainnet at s1umBj7CEUA6djs6V1c6o2Nym3QrqF4ryKDr1Nm1FKt with 0.01 SOL available to flash loan anytime. That's enough SOL for 4 different token accounts! We can't wait to see what you guys come up with!