Solana Blockchain unveiled marginfi as its inaugural Liquidity Layer on Wednesday, aiming to drive performance in Decentralized Finance (DeFi).

marginfi, the platform's premier Layer, boasts real native yield, off-chain data plug-ins, and built-in risk systems. As an integrated liquidity layer on Solana, marginfi facilitates liquidity access for traders without the need for bridging. Essentially, it provides essential infrastructure for Decentralized Applications (dApps) such as trading, indexing, and payments, ensuring users' balances are compounded to counter inflation. Additionally, marginfi rewards users and developers atop the underlying primitives that dApps rely on.

Developers can tap into marginfi's $600 million liquidity pool, spanning over 450,000 accounts, and leverage various on and off-chain tooling. Users and developers can earn integrated native yield through LST token staking, native token yield via mrgnlend, and native stable asset yield through YBX token.

Unlike Ethereum Layer 2 solutions, which can pose a vampire attack on ETH, marginfi allows teams to seamlessly transfer codebases between L1/L2 networks. marginfi plans to implement bundles to enhance user protection while expanding its liquidation network, flash loan features, and stableswap liquidity.

Backed by a team with a strong vision for financial transformation, marginfi has secured $8 million in funding from investors like Split Capital, Jito Labs, Santiago R Santos, and others. Early participants in mrgnlend, LST, YBX (upcoming), and mrgnswap (2024) stand to receive rewards, with additional benefits for early adopters based on deposit amounts and referrals.

Solana's growing prominence in the DeFi space is evident, with a record trading volume of $1.3 billion on its DEX reported on May 10, surpassing Ethereum's volume. The platform's recent integration with CoinGate for seamless SOL merchant transactions further underscores its rise. SOL is currently trading at $162.63, up 5.9% in the last 24 hours, with trading volume increasing by 26.9% to $3.8 billion.