Solana-based project 0 is planning to become a tool with which traders can manage all their Defi positions in one place.
Summary
- Project 0 is launched on Solana and connects the positions of users in Defi
- The platform offers uniform margins for Kamino, Drift and Jupiter, and more
- This approach is intended to eliminate unnecessary liquidations and overcollateralization
Defi has long promised an open alternative to Wall Street, but adoption has suffered due to a fragmented and inefficient user experience. Yet this is changing slowly. On Thursday, September 11, Project 0 was launched on Solana (SOL) and he claims to be the first Defi-Native Prime broker.
“Today’s launch marks the first time that users can borrow against their entire portfolio at locations such as Kamino, Drift and Jupiter, with a uniform margin. This eliminates the frustrating scenario where users are liquidated on one platform, even though they have compensated for positions elsewhere,” Macbrennan Peet.
The project offers a uniform margin for traders on various platforms, including Drift, Kamino and Jupiter. According to Project 0, traders no longer have to be afraid of liquidations on one platform, even though they have sufficient collateral on the other. Due to the reduced risk of liquidations, the platform will also reduce the need for overcollateralization for margin transactions.
“The crypto industry has a hyperfixation in reinventing existing, working applications; the project 0 team strives to help industry ahead,” said Peet. He added that the project in this way “fundamentally revises the Defi trading experience.”
Solana-based project 0 wants to revise Defi-trade
In addition to making trade more capital efficient, Macbrennan Peet, founder of Project 0, is of the opinion that this platform also has the opportunity to change the way in which traders deal with Defi. He explains the role that Prime Brokerages play in Tradefi and why adult Defi needs them.
“Prime Brokerage Services are fundamental infrastructure in traditional finances,” says Peet. “For the first time, we are resting Defi-traders with the same cross-platform Portfolio management benefits that have long been enjoyed by hedge funds and institutional players, so that the playing field fundamentally leveled,” he added.
