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mrgnlabs / mrgn-ts

https://app.marginfi.com
Apache License 2.0
76 stars 65 forks source link

marginfi xNFT #147

Closed edgarpavlovsky closed 5 days ago

edgarpavlovsky commented 1 year ago

Background

marginfi is a decentralized margin protocol designed for trading across the Solana ecosystem. It aims to solve the fragmentation of the trader experience across different DeFi markets by providing a unified place for traders to access margin, manage risk, and improve capital efficiency across the entire Solana ecosystem. This allows traders to manage their exposure in terms of one unified trading portfolio. The main feature of marginfi is a global margin account for trading across all protocols on Solana​1​.

An xNFT (Executable Non-Fungible Token) is a new token standard built on the Solana blockchain. Unlike traditional NFTs that only contain an asset, xNFTs also contain executable code, allowing for native web3 applications and protocols to run inside of a single wallet. This feature provides greater security and freedom for users, as they are not obligated to depend on any third-party software to use and access their assets​2​.

Backpack is a Solana wallet and application management platform for xNFTs, functioning as an operating system for all xNFTs developed on-chain. It manages private keys and provides access to decentralized applications. Any dapp built on Solana can create an xNFT and be executed natively inside the Backpack wallet​2​.

Project Description

The aim of this issue is to build an xNFT for marginfi, allowing the protocol's functionalities to be executed directly within a user's wallet, using the Backpack platform. This would provide a seamless, secure, and user-friendly experience for traders using marginfi.

Goals

Create an xNFT for marginfi, encapsulating all of its features and functionalities. Ensure the xNFT can be executed natively within the Backpack wallet. Provide a user-friendly interface for traders to access margin, manage risk, and improve capital efficiency. Possible Challenges Ensuring the xNFT successfully represents all functionalities of marginfi. Ensuring user-friendly access and execution within the Backpack wallet. Ensuring proper security measures for users. Examples of xNFTs There are several examples of successful xNFTs in use today. For instance, Mango Markets, a DeFi platform on Solana, launched an xNFT allowing users to access their trading account and manage their positions directly from the Backpack wallet​2​. Furthermore, the Degenerate Ape Academy (DAA) developed a metaverse community channel for facilitating meetups and communication among holders of DAA NFTs. Users can communicate with members inside their Backpack wallet​2​.

This project would build on these successful examples to create a new xNFT for marginfi, aiming to simplify and secure the trading experience for users across the Solana ecosystem.

Please note: This task requires more research to get a deeper understanding of the technical aspects of xNFTs and how they can be integrated with marginfi. We should also look into any potential legal or regulatory considerations involved in creating an xNFT for marginfi.

irfanshaik11 commented 1 year ago

Hi! I'm interested in scoping this out and taking this on.

k0beLeenders commented 1 year ago

Hi, I'm working on this :)!