What is Project 0 (prev. marginfi)?

Project 0 is a decentralized DeFi-native prime broker on the Solana blockchain designed to borrow funds against the collateral of a user's entire DeFi portfolio, regardless of the platforms used. The protocol provides unified margin accounting for multiple DeFi venues, allowing assets to be managed as a single portfolio with a shared credit line. For example, if a user has $100 on Drift, $200 on Kamino, and $300 on Jupiter, they can borrow funds for the entire $600 amount with a single click.

Key features:

• Supported venues: Currently integrated with Kamino (for yield farming and automated strategies), Drift (for perpetual trading), Jupiter (for swaps and liquidity aggregation), and other DeFi platforms. Support is possible for any L1, sidechains, or rollups.

• Functionality: Allows you to conduct cash-and-carry trades, arbitrage perpetual futures rates (perp funding rate arb), create hedged yielding positions, and hunt for yield across multiple venues. Simplifies portfolio management by eliminating the need for separate borrowings with different rules.

• How it works: Inserts a self-custodial account (self-managed wallet) between the user and the venue for deleveraging and solvency protection. This does not add new smart contract risks. The risk and liquidity engine uses Solana's speed to process transactions.

• Advantages: Increases capital efficiency through one-click borrowing; allows you to continue using your favorite venues without migrating assets; provides access to loans against your entire on-chain portfolio. For venue teams on other chains — the ability to integrate so that capital does not leave for Solana during trading opportunities.

• Security and audits: Fully open-source; audited (details in the documentation on the website); stress-tested in various market conditions. Risk and security systems have processed billions of dollars in production without any cases of insolvency. No central custodians; focus on risk minimization through self-custody and proven mechanisms.

• Architecture: Scalable system focused on Solana for high speed and low fees, but with multi-chain venue support. Launched as a tool for traders and investors seeking unified access to DeFi loans.