14 lab-driven lessons. Break the protocols safely.
Go deep on AMMs, liquidity provision, lending curves, liquidations, LSTs and tokenomics. Each lab is a pure browser sandbox, so you can stress-test real protocol math with zero real money on the line.
Pure simulation - instant, zero-risk results
The Intermediate Curriculum
I1FREE
How a Liquidity Pool Really Works
How x · y = k prices a swap, and why that rule means a pool can never run empty
Start lab
I2
Be the Liquidity Provider
Deposit a matched pair into a pool and understand exactly what you get back
Start lab
I3
APR, APY, and the 'More Users' Effect
Tell fee income apart from reward-token emissions
Start lab
I4
Impermanent Loss Lab
Understand why providing liquidity costs you when the two tokens diverge
Start lab
I5
Stablecoins and Depegs (The Bank Run Simulator)
Tell fiat-backed, crypto-collateralized, and algorithmic stablecoins apart
Start lab
I6
Lending, Borrowing, and Interest Rate Curves
Read a money market from one number: utilisation = borrows / deposits
Start lab
I7
Collateral, Health Factor, and Liquidation
Know why every DeFi loan is overcollateralized
Start lab
I8
Staking and Liquid Staking (LSTs)
Trace where Solana staking yield actually comes from
Start lab
I9
Tokenomics 1: Supply, Allocation, and Vesting
Tell circulating supply, total supply, and FDV apart without mixing them up
Start lab
I10
Token Cliffs and Unlock Pressure
Model what a cliff unlock actually sends into the market
Start lab
I11
Estimating a Launch (Judge the Launch Game)
Judge a launch on float, cliff length, and insider share instead of unit price
Start lab
I12
Case Studies: Historical Exploits & Lessons
Reconstruct the Mango Markets $114M oracle manipulation on Solana
Start lab
I13
Read the Chain Yourself (Explorer & Holder Analysis)
Inspect any SPL token mint yourself instead of trusting a website
Start lab
I14
Governance, DAOs, and Airdrop Dynamics
See how on-chain governance actually executes a treasury move
Start lab
Finished the labs? Step up to the Pro tier and dissect real exploits.
Educational purposes only. Not financial advice. Tier 1 runs on Solana Devnet and Tier 2 in a sandbox — both use fake money. Never risk real funds.