Using Markets and Blinks - Dialect Developer Documentation

The Markets and Positions APIs provide a strong read layer for Solana’s top DeFi protocols. Using them allows you to build sophisticated applications for your users as well as AI agents. But reading is just one part of the equation. Writing to the blockchain is just as important. Blockchain links (Blinks) fill this gap by providing ready-to-sign transactions for each available protocol, so that your users can take immediate action based on the data they see. This guide walks you through the full process of fetching market data, understanding the response structure, and executing transactions.

What You’ll Learn

By the end of this guide, you’ll understand how to:

Fetch real-time market data from multiple protocols
Identify available actions in the API response
Use Blinks to execute transactions
Track positions across protocols

Getting Real-Time Market Data

The Markets API aggregates real-time market data from multiple protocols and returns it in a detailed, unified data format.

Fetching Market Data

In our example, we will focus on data from the Kamino lending market. You can find the full API reference for the Markets API here.

const response = await fetch(
  'https://markets.dial.to/api/v0/markets?type=yield&provider=kamino',
  {
    headers: {
      'x-dialect-api-key': 'pk_demo'
    }
  }
);

const data = await response.json();
console.log(data.markets);

Please note that the pk_demo key is for testing purposes only! Request your production API key by getting in touch with us.

Understanding Market Data

The API returns detailed market information including rates, liquidity, rewards, and available actions. You can see the full response for this market in the accordion below.

View Complete Response Example

{
  "markets": [
    {
      "id": "kamino.lend.BqBsS4myH82S4yfqeKjXSF7yErWwSi5WTshSzKmHQgzw",
      "type": "yield",
      "provider": {
        "id": "kamino",
        "name": "Kamino",
        "icon": "https://imagedelivery.net/C7jfNnfrjpAYWW6YevrFDg/5cddfb2e-c98e-4734-528b-b541fb5e2b00/public"
      },
      "token": {
        "address": "2u1tszSeqZ3qBWF3uNGPFc8TzMk2tdiwknnRMWGWjGWH",
        "symbol": "USDG",
        "decimals": 6,
        "icon": "https://424565.fs1.hubspotusercontent-na1.net/hubfs/424565/GDN-USDG-Token-512x512.png"
      },
      "websiteUrl": "https://kamino.com/lend/usdg-prime",
      "depositApy": 0.1273,
      "baseDepositApy": 0.0997,
      "baseDepositApy30d": 0.0818,
      "baseDepositApy90d": 0.1678,
      "baseDepositApy180d": 0.1993,
      "totalDeposit": 17454683.181014914,
      "totalDepositUsd": 17454683.18,
      "rewards": [
        {
          "type": "deposit",
          "apy": 0.0276,
          "token": {
            "address": "KMNo3nJsBXfcpJTVhZcXLW7RmTwTt4GVFE7suUBo9sS",
            "symbol": "KMNO",
            "decimals": 6,
            "icon": "https://cdn.kamino.finance/kamino.svg"
          },
          "marketAction": "deposit"
        }
      ],
      "additionalData": {
        "vaultAddress": "BqBsS4myH82S4yfqeKjXSF7yErWwSi5WTshSzKmHQgzw",
        "vaultSlug": "usdg-prime"
      },
      "actions": {
        "deposit": {
          "blinkUrl": "blink:https://kamino.dial.to/api/v0/lend/usdg-prime/deposit"
        },
        "withdraw": {
          "blinkUrl": "blink:https://kamino.dial.to/api/v0/lend/usdg-prime/withdraw"
        }
      }
    },
    // ... more markets ...
  ]
}

To beter understand the response, let’s break it down into its components.

Market Identity

Each market is uniquely identified by its protocol, type, and token:

{
  "id": "kamino.lend.BqBsS4myH82S4yfqeKjXSF7yErWwSi5WTshSzKmHQgzw",
  "type": "yield",
  "provider": {
    "id": "kamino",
    "name": "Kamino",
    "icon": "https://imagedelivery.net/C7jfNnfrjpAYWW6YevrFDg/5cddfb2e-c98e-4734-528b-b541fb5e2b00/public"
  },
  "token": {
    "address": "2u1tszSeqZ3qBWF3uNGPFc8TzMk2tdiwknnRMWGWjGWH",
    "symbol": "USDG",
    "decimals": 6,
    "icon": "https://424565.fs1.hubspotusercontent-na1.net/hubfs/424565/GDN-USDG-Token-512x512.png"
  },
  "websiteUrl": "https://kamino.com/lend/usdg-prime"
}

id: Unique identifier combining protocol, market type, and address
type: Market category, e.g. yield for lend, lending for borrow etc.
provider: Protocol information for branding in your UI
token: Token information for use in your application
websiteUrl: Direct link to the market on the protocol’s website

Understanding Earnings

The earnings structure shows the current and historical market rates including rewards.

{
  "depositApy": 0.1273,              // 12.73% total
  "baseDepositApy": 0.0997,          // 9.97% base rate
  "baseDepositApy30d": 0.0818,       // 30-day average
  "baseDepositApy90d": 0.1678,       // 90-day average
  "baseDepositApy180d": 0.1993,      // 180-day average
  "rewards": [
    {
      "type": "deposit",
      "apy": 0.0276,                 // 2.76% in KMNO tokens
      "token": {
        "symbol": "KMNO",
        "address": "KMNo3nJsBXfcpJTVhZcXLW7RmTwTt4GVFE7suUBo9sS"
      }
    }
  ]
}

depositApy: Total yield you earn (base rate + all rewards combined)
baseDepositApy: The protocol’s base lending rate
baseDepositApy30d/90d/180d: Historical APY averages over different time periods
rewards: Additional earnings from rewards on top of the base rate

In this example: 9.97% (base) + 2.76% (KMNO rewards) = 12.73% (total APY)

Markets can offer multiple reward tokens. See the Rewards Guide for detailed examples.

Market Liquidity

Market size indicators help you understand liquidity and stability:

{
  "totalDeposit": 17454683.181014914,
  "totalDepositUsd": 17454683.18
}

totalDeposit: Total tokens deposited (in token’s native units)
totalDepositUsd: Total value in USD

Available Actions

Each market includes a set of actions that can be executed on the market. A more detailed explanation of the actions is provided in the next section.

{
  "actions": {
    "deposit": {
      "blinkUrl": "blink:https://kamino.dial.to/api/v0/lend/usdg-prime/deposit"
    },
    "withdraw": {
      "blinkUrl": "blink:https://kamino.dial.to/api/v0/lend/usdg-prime/withdraw"
    }
  }
}

Additional Data

Based on the market, this field can be empty or contain protocol-specific data:

{
  "additionalData": {
    "vaultAddress": "BqBsS4myH82S4yfqeKjXSF7yErWwSi5WTshSzKmHQgzw",
    "vaultSlug": "usdg-prime"
  }
}

Taking Action on a Market

The actions object contains blink URLs for each available operation. These URLs return ready-to-sign transactions, which eliminates the need for teams to integrate protocols through complex SDKs as well as the maintenance of these integrations.

From Markets to Transactions

Once you have a blink URL from the Markets API, you can use it to fetch and execute transactions. The process involves three steps:

Fetch transaction

Send a POST request with user’s wallet address and the required parameters to receive a transaction from the API

Update blockhash (recommended)

It’s recommended to update the blockhash of the transaction before signing it to ensure it remains valid

Sign and send transaction

Sign the transaction with any Solana wallet and broadcast it to the network

Integration Options

There are two ways to integrate blinks into your application. Please follow the links below for hands-on code examples:

Programmatic (Headless)

Full control over the user experience. Ideal for custom UIs and AI agents.

UI Components

Drop-in components with automatic rendering and state management of blinks.

Tracking Positions Across Protocols

After executing transactions, track user positions across all protocols:

const response = await fetch(
  'https://markets.dial.to/api/v0/positions/owners?walletAddresses=6JpNV6DK88auwzKVizdeT4Bw3D44sam5GqjcPCJ7y176',
  {
    headers: {
      'x-dialect-api-key': 'pk_demo'
    }
  }
);

const data = await response.json();
console.log(data.positions);

Please note that the pk_demo key is for testing purposes only! Request your production API key by getting in touch with us.

Position data includes:

Current balance and USD value
Accumulated yield
Health factor for leveraged positions
Available actions
etc.

As of today we offer two endpoints that would allow you to track positions across protocols:

List Positions by Wallet

Get all positions for a wallet address across supported protocols

Historical Position Data

Track position growth and portfolio analytics over time

For more information about how to use the historical position data endpoint, please see the Historical Position Data guide.

GETTING STARTED

Markets

Positions

​What You’ll Learn

​Getting Real-Time Market Data

​Fetching Market Data

​Understanding Market Data

​Market Identity

​Understanding Earnings

​Market Liquidity

​Available Actions

​Additional Data

​Taking Action on a Market

​From Markets to Transactions

​Integration Options

Programmatic (Headless)

UI Components

​Tracking Positions Across Protocols

List Positions by Wallet

Historical Position Data

What You’ll Learn

Getting Real-Time Market Data

Fetching Market Data

Understanding Market Data

Market Identity

Understanding Earnings

Market Liquidity

Available Actions

Additional Data

Taking Action on a Market

From Markets to Transactions

Integration Options

Tracking Positions Across Protocols