MarginFi is Solana's #2 money market. Cross-margin design, LST-friendly, and a solid mid-tier alternative to Kamino. For users wanting cleaner separation of lending vs LP + Multiply, MarginFi is the focused choice.
What MarginFi actually is
MarginFi is a Solana-native lending protocol. Users deposit collateral and borrow against it with cross-margin — all your positions contribute to your overall health factor.
Supports SOL, all major LSTs, and stablecoins. Cross-margin design lets users deposit multiple assets as collateral for consolidated borrowing power.
Fees
- Supply rate: variable based on utilization
- Borrow rate: variable based on utilization
- Liquidation penalty: 5-10% depending on asset
Who should use MarginFi
- Solana users wanting cross-margin lending
- LST holders wanting a Kamino alternative
- Users preferring focused lending-only (vs Kamino's broader suite)
Verdict
MarginFi is Solana's solid #2 lending market. Cross-margin design and LST support make it a legitimate alternative to Kamino for pure lending use cases.