MarginFi no longer runs its own app: the old dApp at app.marginfi.com now tells users that marginfi has moved to Project 0 and points them to app.0.xyz, per the marginfi deprecation page. To lend or borrow against SOL with the MarginFi program today, you connect a Solana wallet to Project 0, which the Project 0 blog says has powered the marginfi program, dApp, and MRGN validators since its September 11, 2025 announcement.
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This guide explains what changed, what Project 0 is, how borrowing works there, what happens to existing MarginFi positions and points, and the risks to weigh before using it.
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MarginFi was a Solana lending protocol built by Mrgn Labs. Its team rebuilt the product as Project 0, a cross-venue margin protocol that runs on the same lending program. The standalone MarginFi app has been retired, and existing main-pool positions are managed inside the Project 0 app instead.
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The Project 0 announcement dated September 11, 2025 states that Project 0 would drive development of marginfi from that day and that the marginfi lending venue and dApp would be powered by Project 0. The live marginfi app page now reads as a deprecation notice with a single link to the Project 0 dApp, and says active positions can be managed there. The official marginfi account on X also describes marginfi as a venue powered by Project 0 and says main pool positions did not need to be re-deposited.
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Project 0, written P0 or Project Ø, describes itself as a DeFi-native prime broker on Solana. It gives a user one self-custodial margin account that can count deposits on several lending venues as collateral, then lets that user borrow against the combined value instead of managing separate loans on each venue.
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The Project 0 documentation says P0 is built on mrgnLendv2, the marginfi borrow-lending program, and extends it with cross-venue collateral. The Project 0 website lists Kamino, Drift, and Jupiter as supported venues, and the documentation names Kamino markets and Drift markets as live with Jupiter Lend marked as coming soon. The Project 0 GitHub repository hosts the open-source program code under the marginfi-v2 name.
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You deposit assets either into Project 0's own lending pools or into a supported outside venue through Project 0. Each deposit is valued by the risk engine, and your borrowing power is the sum of all positions. Loans themselves are drawn only from Project 0's native pools, not from the outside venues.
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According to the Project 0 documentation, a deposit into a third-party venue through P0 keeps earning that venue's lending yield while also counting as collateral. Third-party positions serve as collateral only, and borrowing is limited to P0 native banks. The same page gives the example of depositing USDC on Kamino at a higher lending rate and borrowing on P0 at a lower rate to capture the spread. Live supply and borrow rates float with utilization, so check them in the Project 0 app before sizing any position.
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The basic flow is short. Connect a Solana wallet to the Project 0 app, deposit an asset, review the account health shown before signing, then borrow from a native pool. Keep a buffer above the liquidation threshold, because a falling collateral price can trigger liquidation on the whole account rather than on one venue.
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Self-custodial main pool positions from the old MarginFi app carried over to Project 0 without a new deposit. You open the Project 0 app with the same wallet and manage, repay, or withdraw from there. The old MarginFi web address no longer offers lending functions of its own.
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The marginfi account on X states that self-custodial main pool marginfi positions are live on P0 and that there is no need to re-deposit. The marginfi deprecation page repeats that all active positions can be managed through the Project 0 dApp. If a position does not appear, confirm you connected the same wallet address used on MarginFi before contacting Project 0 support.
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The long-expected MFI token was replaced by plans for a Project 0 token. Project 0 took over the points program, and said it would match MRGN points one to one. Points only activate if the wallet holds a live deposit in the Project 0 app.
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In its September 11, 2025 post, Project 0 said it was matching MRGN points 1:1, that points were discontinued on the marginfi dApp, and that a live deposit on the Project 0 dApp is required to activate them. The same post proposed a token split of 20% community, 20% user incentives, 20% team, 20% investors, and 20% foundation, and said the team intended to launch the Project 0 token in 2025. Check the Project 0 blog for current token and distribution status before acting on any older airdrop guidance.
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Kamino and Drift are venues, while Project 0 sits on top of them as a margin layer. Using Kamino directly gives you Kamino's own loan terms. Routing a Kamino deposit through Project 0 lets that same deposit back a loan from Project 0's pools alongside your other positions.
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For a deeper look at each venue, see the Kamino Finance Guide and Drift Protocol: Solana Perpetuals DEX Deep Dive.
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Using Project 0 combines lending risk with the risks of every venue you connect. Smart contract bugs, oracle errors, sharp collateral price drops, and liquidations still apply. A single unified account also means one bad position can pull down the health of everything you have posted as collateral.
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Project 0 states on its website that its audits are published in its documentation and that it inserts a self-custodial account between the user and each venue. That design does not remove the underlying venue risk: a deposit routed to Kamino or Drift still depends on that venue's contracts. Liquid staking tokens used as collateral can also trade below SOL during heavy unstaking, which lowers account health. Size positions so a sudden SOL move does not push the whole account to liquidation.
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This guide was rebuilt on October 6, 2026 from Project 0 and marginfi official pages, including the deprecation notice on the old app, the Project 0 announcement post, the Project 0 documentation, and the open-source repository. Rates and token status change often, so confirm them on official channels.
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Sources: marginfi deprecation page, Project 0 announcement, Project 0 documentation, Project 0 website, and Project 0 GitHub repository.
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