Solana Unveils a New Liquidity Layer: Redefining DeFi with marginfi

• Solana welcomed marginfi, a liquidity protocol to power its innovative community.
• Solana remains a major destination for major builders in the DeFi and memecoin ecosystem.

On Wednesday, Solana Blockchain introduced marginfi as its first liquidity layer. Through the platform, Solana aims to power a new performance layer for decentralized finance (DeFi).

How marginfi works

marginfi describe comes as the first layer with real native yield, off-chain data plugins and integrated risk systems. As an integrated liquidity layer on Solana, marginfi allows traders to access liquidity without a bridge.

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Essentially, the platform gives decentralized applications (dApps) such as trading, indexing, and payments the rails needed to operate. These dApps automatically compound user balances, ensuring that they do not lose value due to inflation. Additionally, marginfi rewards will be earned on the core primitives the dApps are built on.

Developers can directly access $600 million in liquidity, gain access to over 450,000 accounts, and connect to a variety of on-chain and off-chain support tools. Marginfi users and developers can get built-in native yield through natural staking using the LST token, native token yield through mrgnlend, and native stable asset yield through the YBX token.

It is worth noting that all developers can rely on mrgnlend, Solana’s highest yielding lending dApp, YBX, marginfi’s LST-backed integrated stablecoin, and mrgnswap, crypto’s first integrated stablecoin swap (2024 ).

While Ethereum Layer 2 solutions act as a fundamental vampire attack against ETH, marginfi does not act in the same way as Solana. With marginfi, teams can easily copy and paste codebases from one L1/L2 to another.

marginfi hopes to use bundling to ensure user protection as it expands its liquidation network, flash loan features, and stable liquidity.

marginfi gets support

The platform is built by a team united by deep beliefs about transforming finance. So far, marginfi has raised $8 million in its lifetime, with support from investors like Split Capital, Jito Labs, Santiago R Santos and many more.

marginfi is already live and everyone who participates in mrgnlend, LST, YBX (coming soon), and mrgnswap (2024) is eligible for rewards. However, early members get more points depending on the amount they deposit and the people they invite to the platform.

It is evident that Solana has become a leading player in the DeFi space. On May 10, Solana recorded $1.3 billion in trading volume on its DEX, eclipsing Ethereum’s $1.29 billion as previously. reported by Crypto News Flash.

Solana’s increasing DEX trading volume indicates its growing importance in DeFi. Over the past few months, Solana has attracted the attention of memecoin enthusiasts, leading to a notable increase in the value of tokens like DogWifHat and Bonk.

By Crypto News Flash reportsThe Solana community celebrated another milestone following an announcement from CoinGate on SOL integration for seamless merchant transactions.

Notably, SOL is currently taking advantage of this numerous bullish news to trade at $162.63, representing an increase of 5.9% over the last 24 hours. Trading volume also increased by 26.9% to $3.8 billion.

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