Question:

MarginFi just launched to mainnet as a lending foundation for Solana.

After the FTX collapse, Solana defi has been somewhat nonexistent outside of dex swaps. MarginFi is the first new product in the wave of "Defi 2.0" on Solana.

Create a dashboard that tracks key KPI's for MarginFi.

How has adoption been so far and what pools have been most popular?

What type of user has experimented with MarginFi so far?

What other programs have users been exposed to (Solend, Jet etc) that are now using MarginFi?

What do borrowers do with their new found capital after using MarginFi?

Are there signs of early growth of this new wave of Solana defi?

Overview of analysis

This analysis contains the analysis related to the MarginFi protocol on Solana ecosystem.

This investigation contains the following parts:

1. Stats of MarginFi
2. How users interacted with MarginFi?
3. Comparison of lending protocols on Solana
4. Impacts of launching MarginFi on Solana ecosystem
5. Summary and references

About MarginFi

Solana is a blockchain platform that offers a variety of lending programs to its users. These programs are designed to provide users with access to capital and financial services, allowing them to borrow and lend funds in a secure and transparent manner. The Solana blockchain is powered by a Proof-of-Stake consensus mechanism, which allows users to stake their tokens in order to earn rewards. This helps to ensure the security of the network and its users. Through its lending programs, Solana provides users with access to a variety of financial services, such as margin trading, short selling, and decentralized finance (DeFi) applications. These services are designed to help users maximize their returns, while also providing them with a secure and reliable platform for their transactions.

MarginFi is a decentralized margin lending platform built on the Solana blockchain. It enables users to securely and easily access lending and borrowing with low latency, high throughput, and low fees. MarginFi provides a variety of features to make margin trading easier and more efficient, including a user-friendly interface, real-time market data, and a wide range of lending tools. With MarginFi, users can access a variety of markets, including crypto, stocks, and commodities, and take advantage of the unique features of the Solana blockchain, such as low latency and high throughput. By leveraging the power of the Solana blockchain, MarginFi provides users with a secure, fast, and cost-effective way to access margin trading.

Methodology

To handle this analysis, the data from Flipsidecrypto has been utilized. The following steps have been used in this analysis:

Step 1: Stats of MarginFi on Solana

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• Currencies-> SOL and USDC

• Metrics-> Count of borrow and lend, users interacted with protocol, the total volume of lend and borrow, 7-day moving average volume, Average user per day and etc

Step 2: Behavior of users interacted with MarginFi

• Metrics-> Distribution of lenders and borrowers, Are users create wallets especially for MarginFi or just ordinary wallets?, Most popular sectors and programs among MarginFi borrowers, Most popular NFTs and swap pairs among MarginFi users

Step 3: Comparison of MarginFi with other protocols

• Protocols-> Solend and Jet

• Metrics-> Interaction and active users, Attraction of newcomers, Market share

Step 4: Impacts of MarginFi launch on the Solana ecosystem

• Metrics-> Interaction with various sectors before and after launch, interaction with Defi programs before and after launch

Step 5: Summary and references