Introducing marginfi

Hello world, hello traders! We are proud to announce marginfi, a decentralized margin protocol for trading across Solana. In a world where DeFi markets are exploding in numbers, marginfi makes it easy for traders to access margin, manage risk, and improve capital efficiency across the entire Solana ecosystem from one unified place.

Markets, markets, markets

Trading on Solana is growing at a breakneck pace. Finding a market to optimize your financial exposure has never been easier — over 100 DeFi projects are building on Solana. There are DeFi protocols to trade a multitude of tokens across spot, futures, and options markets. New primitives are enabling critical solutions to risk management — take note of anything Paradigm’s Dave White has published in the last three months (and protocols implementing these primitives like Bridgesplit and 01). Projects like cypher’s pre-public derivatives are making the un-tradable tradable and democratizing important access to exposure. The volume is staggering: Serum alone pushed nearly $2B in volume in September.

New financial products give traders more flexibility than they’ve had in the history of all of finance, and it’s incredible to see a growing ecosystem of projects powering this revolution. Protocols are finding new niches in which to specialize and adding complementary solutions in one major decentralized effort.

However, the increasing number of markets presents a critical problem: the fragmentation of the trader experience. As protocols specialize in their own product niches, traders must operate across protocols to optimize their financial exposure and access complementary products.

You can access a better financial system than ever before, but you have no way of thinking about all of your exposure in terms of one unified trading portfolio.

We believe in decentralization and the power of the new financial products DeFi is empowering. We want traders to trade the markets they need without being constrained by the operational complexity of managing their portfolio. The road to the ultimate solution will be long with many steps, but we think it’s important to start with a financial primitive that sits at the core of trading: margin.

Introducing marginfi

marginfi gives traders a global margin account for trading across all protocols on Solana. It is one place for traders to take on margin when they need it, manage margin requirements across the protocols they trade, and maximize the capital they put to work.

marginfi will empower traders to do things like:

• Access the benefits of cross-margin by using profits in one protocol to offset losses in another
• Borrow & lend margin under one global context
• Structure complex exposure and participate in more markets

Trade with leverage.

Stay tuned

There’s a lot to do. If this problem space resonates with you — we’d love to have you involved.

We’ll be sharing more about marginfi in the coming days and weeks. For the latest, join our discord and follow us on twitter.

Keep an eye out for content on our approach to building the protocol, our take on DeFi’s evolution on Solana, and more.

As always, no marginfi content should ever be considered financial advice and no reference to financial to any assets, securities, derivatives, or other financial products should be considered an endorsement of the aforementioned. Please consult a licensed financial advisor before making any and all investment decisions, and please do your own research.